DriveWealth LLC

Regulator action

United States. Named in 2 sanctions listings.

Sanctions and listings2

Official designation
Financial Industry Regulatory AuthorityUS FINRA Enforcement ActionsUnited States
06/29/2026: Between February 2016 and March 2022, DriveWealth failed to report over 211 million fractional share trades to a FINRA trade reporting facility (TRF) and approximately 169 million reportable events involving fractional share trades to the Consolidated Audit Trail (CAT) Central Repository. Between October 2021 and August 2025, the firm submitted approximately 127 million inaccurate or late reports to the TRFs and approximately 2.1 billion inaccurate reportable events to the CAT Central Repository. As a result, DriveWealth violated FINRA Rules 6380A, 6380B, 6622, 6830, 6893, and 2010. DriveWealth completed its back-reporting of the fractional share trades in March 2022. Thereafter, FINRA identified over 110,000 instances between January 2020 and September 2021 where DriveWealth effected trades during trading halts, pauses, and market-wide circuit breakers, in violation of FINRA Rules 5260, 6121, and 2010.
Reference 2020067647701data-portal.finra.org finra.org
Official designation
Financial Industry Regulatory AuthorityUS FINRA Enforcement ActionsUnited States
06/06/2025: From June 2020 through October 2022, DriveWealth did not take timely action on 1,206 customer requests to transfer securities positions and money balances to another broker-dealer. As a result, DriveWealth violated FINRA Rules 11870(a) and 2010. For these violations, DriveWealth is censured and fined $100,000.
Reference 2021071543601data-portal.finra.org finra.org

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