The Finleet Terminal recorded 126 events across broker-dealer and RIA verticals on Wednesday, led by the parent-company CEO of Canaccord Genuity Group assuming direct operational control of the US broker-dealer subsidiary weeks after a historic $80 million FinCEN penalty, a $400,000 FINRA enforcement action against Aegis Capital for Regulation M violations, a Chief Compliance Officer transition at a major bank-channel firm, and a 27-firm wave of RIA graduations dominated by New York and Virginia.

Canaccord Genuity Group CEO Takes Direct Control of US Broker-Dealer After Record $80M Penalty

Canaccord Genuity LLC (CRD 1020) filed a BrokerCheck update showing Daniel Joseph Daviau (CRD 6096472) moving from Non-Executive Director to Chief Executive Officer and President of the US broker-dealer subsidiary. The filing follows three weeks after FinCEN assessed a historic $80 million civil money penalty against Canaccord Genuity LLC on March 6, 2026 — the largest fine ever imposed against a broker-dealer for Bank Secrecy Act violations.

Daviau has served as President and CEO of the publicly traded parent company, Canaccord Genuity Group Inc. (TSX: CF), since October 2015 and was elevated to Chairman in August 2024. His move from a board-level oversight role to direct operational control of the US subsidiary follows the immediate retirement of Jeff Barlow, who led the US division for 11 years and grew it to 350 professionals generating $500 million in annual revenue. Daviau previously ran Canaccord’s US capital markets business from 2012 to 2015 before ascending to the global CEO role.

The $80 million FinCEN penalty — a coordinated action with the SEC and FINRA — cited willful violations of the BSA’s anti-money laundering requirements between March 2018 and June 2024, including failures to file at least 160 Suspicious Activity Reports related to dozens of OTC securities. FinCEN credited $40 million in payments Canaccord made to the SEC ($20 million) and FINRA ($20 million) as part of the joint resolution. In 2025, FINRA separately suspended the firm’s former Chief Compliance Officer and former head of trading compliance for supervisory failures spanning 2017 to 2022.

Canaccord Genuity LLC — headquartered in New York, registered in 52 states and territories, originally FINRA-approved in April 1946, and operating under MPIDs ADAM, CANA, and CICF — is an introducing broker-dealer that clears fully disclosed through BofA Securities, Inc. (CRD 283942). Before joining Canaccord, Daviau was Co-Head of Investment Banking at CIBC World Markets and a co-founder of Genuity Capital Markets. Despite the regulatory headwinds, the parent company’s stock has risen 38.5% over the past 12 months, with 24% revenue growth and 48% profit growth through the first nine months of fiscal 2026.

FINRA Fines Aegis $400,000 for Regulation M Violations

FINRA issued an Acceptance, Waiver, and Consent (AWC) order against Aegis Capital Group (Case ID 2021073044801), imposing a $400,000 fine — of which $185,000 is payable to FINRA — for violations of FINRA Rules 5190 and 2010 related to Regulation M of the Securities Exchange Act of 1934.

Between January 2021 and January 2025, Aegis submitted untimely or incomplete restricted period notifications and trading notifications in 90 instances, or failed to submit such notifications entirely, in connection with its participation in security distributions. FINRA additionally found that since August 2019, Aegis failed to establish and maintain a supervisory system reasonably designed to achieve compliance with FINRA Rule 5190. The order also cited inaccurate representations in a Corrective Action Statement submitted in connection with a prior July 2019 AWC. The firm is censured and must certify that it will enhance its supervisory procedures.

Cetera Investment Services Replaces Chief Compliance Officer

Cetera Investment Services LLC (CRD 15340) replaced its Chief Compliance Officer, with Joseph Daniel Neary (CRD 2993505) departing and Daniel Paul Burkott (CRD 4710068) joining in the role. Cetera Investment Services — headquartered in St. Cloud, Minnesota, self-clearing under clearing number 0701, and operating under MPID BANK — is a large bank-channel broker-dealer that holds customer funds and introduces customers on a fully disclosed basis across 53 state registrations.

Dowling & Partners Restructures Compliance Leadership

Dowling & Partners Securities LLC (CRD 24746), a small Farmington, Connecticut-based institutional broker-dealer, executed a three-event compliance restructuring: Krista Ann Hilbie (CRD 1712680) departed as Chief Compliance Officer, Richard A Sweeney (CRD 2396562) joined as the new CCO, and Jon Alan Nixon (CRD 4710715) expanded his role from FINOP to FINOP, Principal Financial Officer, and Principal Operations Officer. Dowling & Partners clears through Pershing LLC (CRD 7560).

RIA Graduations: 27 Firms Complete SEC Registration

Twenty-seven advisory firms graduated to full SEC registration on Wednesday, with New York contributing 7 of the 27 and Virginia adding 4. The geographic distribution:

New York (7), Virginia (4), Florida (2), California (2), New Jersey (2), Massachusetts (2), Michigan (2), and one each from Alabama, Georgia, Oregon, Pennsylvania, Texas, and Wisconsin.

Fastest graduation: Doxara Capital LP of Jacksonville, Florida completed its registration in just 82 days — roughly two-thirds of the standard 120-day window. Slowest completions: Four firms — Harvest - Faith-Based Investing (Lynchburg, VA), Pointone Family Office (Manhattan Beach, CA), Musaffa LLC (New York, NY), and Anchored Financial Planning LLC (West Deptford, NJ) — each took 132 days, exceeding the standard window by 12 days.

Notable graduates include Activ8 Family Office LLC (McLean, VA, 114 days), Agriglobe Land Advisors, LLC (Fresno, CA, 125 days), and A-Street Management LP (Brooklyn, NY, 125 days).

Advisor Moves: Boreal Capital Rebrands to Mora Capital with 28 Advisors

The 52 advisor move events were dominated by firm rebrands: Boreal Capital Management LLC rebranded to Mora Capital Management, LLC (28 advisors), AA Financial Advisors, LLC became Antolino Wealth Advisors (8 advisors), Clifford Capital Partners, LLC became Lone Peak Global Investors, LLC (6 advisors), Jose Cuevas Inc. DBA Wisdom Investments Inc. shortened to Wisdom Investments (2 advisors), Vita Investimentos became Tori (2 advisors), Cullen, Patterson Capital Management, LLC became Cypress Point Capital Management, LLC (1 advisor), High Speed Alliance became Meddent Solutions (1 advisor), and Bricker Financial Planning shortened to Bricker Financial (1 advisor).

Three competitive departures stood out: Abel Fernandez (CRD 7528482) left Merrill Lynch, Pierce, Fenner & Smith for MML Investors Services, LLC, Tyler Neary (CRD 6750779) departed Raymond James Financial Services Advisors, Inc. for Osaic Wealth, Inc., and Letitia Gray (CRD 4354059) left Commonwealth Financial Network for Raymond James Financial Services Advisors, Inc. — a notable swap where Raymond James lost one advisor to Osaic while simultaneously gaining one from Commonwealth.

Disclosure Activity: 25 Events

Twenty-five disclosure events were recorded, with 6 new customer complaints filed including against representatives at Morgan Stanley and Vanguard Advisers. Three new bankruptcy disclosures were added and four were removed. A Morgan Stanley representative received a new termination disclosure. Four judgment/lien entries were added and three removed, with additional civil judgments cleared from representative records at multiple firms.

Data as of 7:00 AM ET, March 25, 2026. Source: Finleet Terminal Ticker (terminal.finleet.com). 126 events processed across broker-dealer and RIA verticals.