NOTE: Stipulations of Fact and Consent to Penalty (SFC); Offers of Settlement (OS); and Letters of Acceptance Waiver, and Consent (AWC) are entered into by Respondents without admitting or denying the allegations, but consent is given to the described sanctions & to the entry of findings. Additionally, for AWCs, if FINRA has reason to believe a violation has occurred and the member or associated person does not dispute the violation, FINRA may prepare and request that the member or associated person execute a letter accepting a finding of violation, consenting to the imposition of sanctions, and agreeing to waive such member's or associated person's right to a hearing before a hearing panel, and any right of appeal to the National Adjudicatory Council, the SEC, and the courts, or to otherwise challenge the validity of the letter, if the letter is accepted. The letter shall describe the act or practice engaged in or omitted, the rule, regulation, or statutory provision violated, and the sanction or sanctions to be imposed.

Chicago Investment Group, LLC
AWC/2006006518903

The Firm failed to 

• establish and maintain an adequate supervisory system, including written procedures, to supervise the firm’s trading and market making;
• reasonably supervise individuals to detect their manipulations of the price of a thinly traded common stock;
• establish and implement AML policies and procedures that could reasonably be expected to detect and cause the reporting of suspicious securities transactions, and internal controls reasonably designed to achieve compliance with the Bank Secrecy Act and the implementing regulations thereunder. 

Chicago Investment Group, LLC: Fined $150,000; Required to certify to FINRA that its AML policies and procedures are in compliance with NASD Rules 3011(a) and 3011(b), and that its system and procedures for trading and market making are reasonably designed to achieve compliance with ap