MCAP LLC

04/09/2026: MCAP failed to conduct any independent testing of its anti-money laundering (AML) program in calendar years 2021 and 2022, and the firm’s independent testing of its AML program in calendar years 2023 and 2024 was unreasonable, in violation of FINRA Rules 3310(c) and 2010. For these violations, MCAP is censured and fined $15,000.

Reference 2023077010801data-portal.finra.orgfinra.org

04/08/2026: From at least October 2017 to May 2024, MCAP violated FINRA Rules 3110 and 2010 by failing to establish and maintain a system reasonably designed to supervise the firm’s electronic communications. During this period, MCAP’s written procedures failed to identify who was responsible for conducting supervisory reviews of its designated principals’ electronic communications, and the firm allowed certain designated principals to conduct supervisory reviews of their own electronic communications. As a result, MCAP failed to reasonably review thousands of electronic communications sent or received by its designated principals over an approximate seven-year period. In addition, from at least October 2017 to October 2025, MCAP violated FINRA Rules 3110 and 2010 by failing to reasonably supervise both the firm’s OTC sponsorship and market making businesses for compliance with Rule 15c2-11 under the Securities Exchange Act of 1934 and for compliance with FINRA Rule 6432....

Reference 2019062640302data-portal.finra.orgfinra.org

06/21/2016: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20140437712-01 TO: Department of Market Regulation Financial Industry Regulatory Authority ("FINRA") RE: MCAP LLC, Respondent Broker-Dealer CRD No. 139515 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, MCAP LLC (the "firm" 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 2014043771201data-portal.finra.orgfinra.org