From June 2019 through June 2022, XP violated FINRA Rules 5210 and 2010 by overstating its advertised trade volume on Bloomberg, a private, subscription-based provider of market data, in approximately 3,300 instances by approximately 446 million shares. From at least June 2019 through December 2023, XP violated FINRA Rules 3110 and 2010 by not establishing and maintaining a supervisory system, including written supervisory procedures (WSPs), reasonably designed to achieve compliance with FINRA Rule 5210. For these violations, XP is censured and fined $185,000.

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. SECURITIES EXCHANGE ACT OF 1934 Release No. 103180 / June 4, 2025 Admin. Proc. File No. 3-21915 In the Matter of the Application of CHARLES SCOTT BURFORD For Review of Disciplinary Action Taken by FINRA OPINION OF THE COMMISSION REGISTERED SECURITIES ASSOCIATION — REVIEW OF DISCIPLINARY PROCEEDING Person formerly associated with FINRA member firm appeals from FINRA disciplinary action finding that he effected unauthorized transactions in deceased customer's account, suspending him for six months, and imposing a $10,000 fine.