Carl M. Hennig dinged by SEC over Reg BI lapses
By 
Jeff Dale2023-09-25T18:57:00
A Wisconsin-based broker-dealer agreed to pay a $50,000 fine to settle allegations by the Securities and Exchange Commission (SEC) it failed to comply with Regulation Best Interest (Reg BI).
Carl M. Hennig agreed to cease and desist from further violations and to be censured, the SEC announced in an administrative proceeding Friday. The agency alleged Hennig failed to comply with the compliance, conflict of interest, and care obligations of Reg BI.
Between June 2020 and January, Hennig’s written policies and procedures were not reasonably designed to achieve compliance with Reg BI, the SEC alleged in its order.
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