Regulatory Notice 22-07

Summary

In February 2012, pursuant to an SEC order, FINRA established an accounting support fee (GASB Accounting Support Fee) to adequately fund the annual budget of the Governmental Accounting Standards Board (GASB). The GASB Accounting Support Fee is collected on a quarterly basis from member firms that report trades to the Municipal Securities Rulemaking Board (MSRB). Each member firm’s assessment is based on its portion of the total par value of municipal securities transactions reported by all FINRA member firms to the MSRB during the previous quarter.

2017053083501 Liquidnet, Inc. CRD 103987 AWC sl (2022-1648772498822).pdf

FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 2017053083501 TO: Department of Enforcement Financial Industry Regulatory Authority (FINRA) RE: Liquidnet, Inc. (Respondent) Member Firm CRD No. 103987 Pursuant to FINRA Rule 9216, Respondent Liquidnet, Inc. submits this Letter of Acceptance, Waiver and Consent (AWC) for the purpose of proposing a settlement of the alleged rule violations described below.

2021070239501 Jayanth Hebbar CRD 5244889 AWC jlg (2022-1648772499133).pdf

FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER, AND CONSENT NO. 2021070239501 TO: Department of Enforcement Financial Industry Regulatory Authority (FINRA) RE: Jayanth Hebbar (Respondent) Former Securities Trader CRD No. 5244889 Pursuant to FINRA Rule 9216, Respondent Jayanth Hebbar submits this Letter of Acceptance, Waiver, and Consent (AWC) for the purpose of proposing a settlement of the alleged rule violations described below. This AWC is submitted on the condition that,

2018058292301 Jon Stankovich CRD 4810172 AWC sl (2022-1648686033339).pdf

FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER, AND CONSENT NO. 2018058292301 TO: Department of Enforcement Financial Industry Regulatory Authority (FINRA) RE: Jon Stankovich (Respondent) General Securities Representative CRD No. 4810172 Pursuant to FINRA Rule 9216, Respondent Jon Stankovich submits this Letter of Acceptance, Waiver, and Consent (AWC) for the purpose of proposing a settlement of the alleged rule violations described below.

2019064746502 Worden Capital Management LLC CRD 148366 Complaint sl (2022-1648686031049).pdf

FINANCIAL INDUSTRY REGULATORY AUTHORITY OFFICE OF HEARING OFFICERS Department of Enforcement, Complainant, v. Worden Capital Management LLC (CRD No. 148366), Respondent. Disciplinary Proceeding No. 2019064746502 COMPLAINT The Department of Enforcement alleges: SUMMARY 1. Between January 2019 and March 2020, Worden Capital Management LLC (“WCM”), acting through its chief executive officers, JW, and its registered representatives, raised over $10 million from 121 investors in 22 private placement offerings
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