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Violation Tracker Individual Record

Company: Terra Nova Financial, LLC
Penalty: $400,000
Year: 2009
Date: November 23, 2009
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: financial institution supervision failures
Violation Description: The Financial Industry Regulatory Authority fined Terra Nova Financial, LLC, of Chicago, $400,000 for making more than $1 million in improper soft dollar payments to or on behalf of five hedge fund managers, without following its own policies to ensure the payments were proper.
Level of Government: federal
Action Type: agency action
Agency: Financial Industry Regulatory Authority
Civil or Criminal Case: civil
Source of Data: (click here)
Notes: FINRA is a securities industry self-regulatory body authorized by the federal government.
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.