Piper Sandler & Co.

07/18/2024: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER, AND CONSENT NO.2022073887801 TO: Department of Enforcement Financial Industry Regulatory Authority (FINRA) RE: Piper Sandler & Co. (Respondent) Member Firm CRDNo.665 Pursuant to FINRA Rule 9216, Respondent Piper Sandler & Co. (Piper Sandler) 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, if accepted, FINRA will not bring any future actions against Respondent alleging violations based on the same factual findings described in this AWC.

Reference 2022073887801data-portal.finra.orgfinra.org

04/16/2014: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20130377916-01 TO: Department of Market Regulation Financial Industry Regulatory Authority ("FINRA") RE: Sandler, O'Neill & Partners, L.P., Respondent Broker-Dealer CRD No. 23328 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, Sandler, O'Neill & Partners, L.P. (the "firm") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the

Reference 2013037791601data-portal.finra.orgfinra.org

08/04/2021: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER, AND CONSENT NO. 2017055996901 TO: Department of Enforcement Financial Industry Regulatory Authority (FINRA) RE: Piper Sandler & Co. (f/k/a Sandler O’Neill & Partners, L.P.) (Respondent) Member Firm CRD No. 665 Pursuant to FINRA Rule 9216, Respondent Piper Sandler & Co. submits this Letter of Acceptance, Waiver, and Consent (AWC) for the purpose of proposing a settlement of the alleged rule violations described below.

Reference 2017055996901data-portal.finra.orgfinra.org

11/10/2025: Between January 2022 and December 2023, Piper Sandler published public quarterly reports on its handling of customers’ orders in National Market System (NMS) securities that overstated statistical information related to options orders and failed to adequately describe its arrangements for payment for order flow and profit-sharing relationships with certain execution venues. Therefore, the firm violated Rule 606(a) of Regulation NMS and FINRA Rule 2010. During the same period, the firm’s supervisory system, including its written supervisory procedures, was not reasonably designed to achieve compliance with Rule 606(a). As a result, the firm violated FINRA Rules 3110 and 2010. For these violations, the firm is censured and fined $95,000...

Reference 2023077051701data-portal.finra.orgfinra.org