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.

Alvarez & Marsal Securities, LLC
AWC/2008011639901

Acting through a registered principal, the Firm it failed to

• conduct inspections of its main office,
  
• reduce inspections and reviews to a written report, and
  
• conduct annual compliance meetings.
  

For one year, the firm failed to

• document that it had administered a continuing education program in accordance with its evaluation of its training needs and written training plan for its covered registered personnel, and
  
• conduct a needs analysis and prepare a written training plan or administer a continuing education program for its covered registered personnel.
  

Alvarez & Marsal Securities, LLC : Censured; Fined $15,000 ($5,000 joint/several with unnamed party)

Tags: Inspections  Annual Compliance Meeting  Continuing Education