From September 2020 through June 2022, FTP Securities failed to establish, maintain, and enforce a supervisory system, including written supervisory procedures, reasonably designed to achieve compliance with applicable FINRA rules for reviewing and evaluating outside business activities. During this period, the firm received written notice that a registered person was engaging in investment-related outside business activities but failed to reasonably review and evaluate them. As a result, FTP Securities violated FINRA Rules 3110, 3270.01, and 2010, and is censured and fined $35,000.

FINANCIAL INDUSTRY REGULATORY AUTHORITY OFFICE OF HEARING OFFICERS DEPARTMENT OF ENFORCEMENT, Complainant, v. ROBERT JAMES TRACY (CRD No. 1513899), Respondent. Expedited Proceeding No. ARB240021 RCM No. 20240839559 Hearing Officer–LOM EXPEDITED DECISION March 10, 2025 Respondent failed to pay an arbitration award and failed to prove that he had a bona fide inability to pay or make a meaningful payment toward the award. Respondent is therefore suspended from associating with any FINRA member in any capacity until he complies with the award or establishes another valid defense.

From January 2022 to July 2024, Sanctuary Securities failed to develop and implement an anti-money laundering (AML) program reasonably designed to achieve compliance with the requirements of the Bank Secrecy Act (31 U.S.C. § 5311, et seq.) (BSA) and its implementing regulations. In addition, the firm failed to conduct an adequate independent test of its AML program in 2022. As a result, Sanctuary Securities violated FINRA Rules 3310 and 2010.