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FINRA Fines Broker-Dealer for Repeated Form CRS Disclosure Failures

Posted on February 5th, 2026 at 4:16 PM
FINRA Fines Broker-Dealer for Repeated Form CRS Disclosure Failures

From the desk of Jim Eccleston at ÍøÆØ³Ô¹Ï

The Financial Industry Regulatory Authority (FINRA) fined VSI Securities Inc., formerly known as Venecredit Securities Inc., $20,000 for failing to accurately disclose the firm’s disciplinary history in its customer relationship summary, known as Form CRS. According to FINRA, VSI committed a series of Form CRS violations between June 30, 2020, and Aug. 21, 2025. Form CRS requires disclosures by firms as to legal or disciplinary history. FINRA found that VSI did not meet that requirement.

FINRA concluded that by filing and distributing Forms CRS that omitted required information, VSI willfully violated Exchange Act Section 17(a)(1), Exchange Act Rule 17a-14, and FINRA Rule 2010.

ÍøÆØ³Ô¹Ï LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

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