First Southern LLC

07/17/2025: Since June 30, 2020, First Southern has failed to establish, maintain, and enforce written policies and procedures and a supervisory system reasonably designed to achieve compliance with Regulation Best Interest in violation of Securities Exchange Act Rule 15/-l(a)(l), MSRB Rule G-27, and FINRA Rules 3110 and 2010. Additionally, since January 2020, First Southern has not accurately calculated its net capital, has filed at least 29 inaccurate FOCUS reports, and has failed to reasonably supervise those financial activities in violation of Section 17(a) of the Exchange Act, Exchange Act Rules 17a-3 and 17a-5, MSRB Rules G-8(a)(x) and G-27, and FINRA Rules 3110 and 2010. Finally, between November 2017 and December 2021, First Southern failed to timely and accurately report approximately 5,000 transactions to the MSRB 's Real-time Transaction Reporting System (RTRS) and failed to reasonably supervise that reporting in violation of MSRB Rules G-14 and G-27. First Southern is censured, fined $250,000, and...

Reference 2021069348401data-portal.finra.orgfinra.org