In the Matter of Moomoo Financial Inc.

Moomoo Financial Inc. allegedly failed to have a reasonable supervisory system concerning Large Options Positions Report (LOPR) reporting and failed to report thousands of positions to the LOPR. According to FINRA, the WSPs did not identify how often a firm supervisor should assess or report options positions or provide for any supervisory review to ensure that the reporting is accurate and complete. Moomoo Financial Inc. allegedly failed to report positions to the LOPR because it failed to identify and report reportable options positions of its customers that were cleared and held on an omnibus basis.

Summary generated from official Financial Industry Regulatory Authority press release