A process used when a respondent does not contest an allegation made by FINRA. The respondent accepts the findings without admitting any wrongdoing and agrees to accept any penalty for the violation.
Agents and firms who have committed relatively small infractions as well as those who do not wish to contest the allegations of FINRA, may elect to accept the findings of FINRA as a true account of the activities in question. By signing this form the agent or firm waves the right to a hearing and to appeal the findings. The respondent agrees to accept whatever penalty FINRA wishes to imposed as spelled out in the AWAC agreement.
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