Apex Clearing Corporation

12/31/2019: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 2019061642801 TO: Department of Enforcement Financial Industry Regulatory Authority (FINRA) RE: Apex Clearing Corporation, Respondent Member Firm CRD No. 13071 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, Respondent Apex Clearing Corporation ("Apex" or "Respondent") submits this Letter of Acceptance, Waiver and Consent (AWC) for the purpose of proposing a settlement of the alleged rule violations described below.

Reference 2019061642801data-portal.finra.orgfinra.org

02/04/2025: From January 2019 through June 2023, Apex entered into securities loans with certain introduced customers without having reasonable grounds to believe that the loans were appropriate for those customers because those customers did not receive a loan fee for lending their shares. In addition, from March 2021 through April 2023, the firm failed to provide many customers enrolled in its fully paid securities lending program (FPLP) with all of the written disclosures regarding the customers' rights with respect to the loaned securities and the risks and financial impacts associated with the customers' loans of securities required under FINRA Rule 4330. Also from January 2019 through June 2023, Apex distributed to certain of its introducing broker-dealers documents that were sent to more than five million retail investors containing misrepresentations about the compensation that those investors would receive for loans under the FPLP. Four of those introducing broker-dealers enrolled approximately five...

Reference 2021072120401data-portal.finra.orgfinra.org

09/20/2016: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO .20140404941-01 TO: Department of Market Regulation Financial Industry Regulatory Authority ("FINRA") RE: Apex Clearing Corporation, Respondent Broker-Dealer CRD No. 13071 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, Apex Clearing Corporation ("QRCC" or the "firm") submits this Letter of Acceptance, Waiver and Consent ("AWC') for the purpose of proposing a settlement of the alleged rule violations

Reference 2014040494101finra.orgdata-portal.finra.org

09/16/2015: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20120346812-01 TO: Department of Market Regulation Financial Industry Regulatory Authority ("FINRA") RE: Apex Clearing Corporation, Respondent Broker-Dealer CRD No. 13071 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, Apex Clearing Corporation ("Apex" or the "Firm") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a

Reference 2012034681201data-portal.finra.orgfinra.org

10/15/2019: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20160494483-01 TO: Department of Enforcement Financial Industry Regulatory Authority ("FINRA") RE: Apex Clearing Corporation, Respondent Member Firm CRD No. 13071 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, Respondent Apex Clearing Corporation ("Apex" or the "firm") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the alleged rule violations described below.

Reference 2016049448301data-portal.finra.orgfinra.org