The institutional broker-dealer arm of Santander in the United States agreed to pay $100,000 to settle allegations by the Financial Industry Regulatory Authority (FINRA) regarding supervision failures related to misuse of material nonpublic information (MNPI).
Santander U.S. Capital Markets agreed to be censured in reaching settlement for failing to establish, maintain, and enforce a supervisory system and written procedures reasonably designed to achieve compliance with FINRA rules, the self-regulatory organization said in a disciplinary action published Friday.
