Monex Securities Inc.—a registered broker-dealer—was ordered by the Financial Industry Regulatory Authority to disgorge US $1.1 million and to pay a fine of US $175,000 for not registering foreign persons who sold securities on behalf of the firm. In addition, Jorge Martin Ramos Landero, the firm’s president and chief compliance officer, was suspended from acting as a principal of the firm for 45 days and fined US $15,000. According to FINRA, from January 1, 201o, through at least May 31, 2012, Monex Securities paid transaction-related compensation to foreign persons associated with its Mexican parent company, Monex Casa de Bolsa, which referred non-US customers to open accounts with Monex Securities and handled orders for these accounts. These individuals were required to be registered under applicable regulation, but were not. As a result, FINRA charged Monex Securities and Mr. Ramos with violations of its registration requirements, as well as failure to have adequate written supervisory procedures to help it comply with its regulatory requirements related to registration obligations. Monex Securities and Mr. Ramos settled FINRA’s charges without admitting or denying any allegations.