FINRA fined ABN AMRO Capital Markets $50,000 for conducting business on 84 days with insufficient net capital, sanctioned Cetera firms for AML and Securities Act supervision failures, Wells Fargo moved four advisors from its wirehouse channel to its Financial Network independent platform, the Federal Reserve approved Brazilian bank Banco Inter's application, and seven OCC branch closings led the busiest banking day of the year across 73 total events.

FINRA Fines ABN AMRO $50K for Net Capital Violations

FINRA fined ABN AMRO Capital Markets (USA) LLC $50,000 for conducting a securities business on 84 days between November 2023 and September 2024 during which the firm failed to maintain the required minimum net capital. Net capital violations — breaches of Exchange Act Rule 15c3-1 — are among the most serious regulatory failures a broker-dealer can commit, as the net capital rule is the primary safeguard ensuring firms have sufficient liquid resources to meet obligations to customers and counterparties.

The 84-day duration of the violations means ABN AMRO operated below required capital levels for nearly a quarter of the 10-month period — a systemic deficiency rather than an isolated incident.

FINRA Sanctions Cetera Firms for AML and Section 5 Failures

FINRA sanctioned Cetera Advisors LLC, Cetera Wealth Services (formerly Cetera Advisor Networks), and Cetera Investment Services for failing to maintain supervisory systems reasonably designed to achieve compliance with Section 5 of the Securities Act — the provision governing unregistered securities offerings — from at least March 2019 through August 2021. The firms also failed to maintain AML compliance programs reasonably designed to detect and report suspicious transactions, violating FINRA Rules 3310(a) and 3310(f).

The dual Section 5 and AML failures at multiple Cetera entities suggest a systemic compliance gap that affected the entire Cetera broker-dealer family during the cited period.

FINRA Files Complaint Against Boustead and Sutter Securities

FINRA's Department of Enforcement filed a complaint against Boustead Securities, LLC (CRD 141391), Sutter Securities, Incorporated (CRD 30770), and Keith Charles Moore (CRD 5191450) — initiating a formal disciplinary proceeding that will be adjudicated by FINRA's Office of Hearing Officers. Complaints represent FINRA's most serious enforcement mechanism, reserved for cases where the regulator believes the evidence warrants a full hearing rather than a negotiated settlement.

Wells Fargo Moves Four Advisors to FiNet

Wells Fargo moved four advisors — Natasha Ukani (CRD 7020975), Christopher Davis (CRD 4701533), Robert M. Core (CRD 2050212), and Deryl McGallion (CRD 4488210) — from Wells Fargo Clearing Services to Wells Fargo Advisors Financial Network (FiNet), its independent advisor channel. The four-advisor internal migration reflects Wells Fargo's continued strategic shift of advisors from its employee wirehouse model to its independent-contractor platform.

Raymond James recruited Carmela Bowman (CRD 2737733) from Commonwealth Financial Network. LPL lost David Calderon (CRD 3236220) to Osaic Wealth. Eight total advisor moves were recorded.

Fed Approves Banco Inter, CFTC Issues Enforcement Updates

The Federal Reserve approved the application by Banco Inter, S.A. — a Brazilian digital bank — marking a significant international banking approval. The CFTC published enforcement updates. Huntington National Bank received fiduciary powers from the OCC, and Capital One's previously granted fiduciary powers became effective. Enova Interim Bank filed for a business combination, and Grasshopper Bank flagged a substantial change in assets.

Across the Wire

Seven OCC branch closings were recorded against one establishment — the most closure-heavy banking day of 2026. Thirteen new advisory firms registered, one closed. Four FOCUS reports were filed. Twelve vendor changes and 12 SEC announcements were recorded. The day's 73 events made it the busiest day since January 3.

All data sourced from FINRA BrokerCheck, SEC EDGAR, Federal Reserve, CFTC, OCC, NSCC/DTCC, and the Finleet Terminal as of January 16, 2026. Entity profiles are available at terminal.finleet.com.