In the Matter of TPEG Securities, LLC

TPEG Securities, LLC allegedly violated FINRA’s standards for communications with the public by using aggregated metrics and performance projections. According to FINRA, the firm sent communications that included aggregated Internal Rates of Return (IRR) and Cash Multiple Values relating to the sponsor’s prior closed deals, and the inclusion of aggregated sponsor performance metrics violated FINRA Rule 2210(d)(1)(B) because such metrics mask the performance of the individual closed deals and were not representative of any specific investment return. The firm also allegedly failed to report customer complaints and failed to reasonably supervise to achieve compliance with its complaint reporting obligations. Finally, the firm allegedly failed to establish and maintain a supervisory system, including Written Supervisory Procedures (WSPs), reasonably designed to achieve compliance with its customer complaint reporting obligations.

Summary generated from official Financial Industry Regulatory Authority press release