The Financial Industry Regulatory Authority fined Lightspeed Trading LLC US—a registered broker-dealer—US $250,000 for helping three unregistered brokers conduct business from June 1, 2008, through June 30, 2012. FINRA claimed that, during this time, the three entities solicited customers to trade through accounts at Lightspeed, and Lightspeed paid these brokers transaction-compensation while the entities were unregistered. In addition, FINRA alleged that one of the unregistered entities engaged in trading activity that appeared to be spoofing or layering. However, Lightspeed never investigated the trading, claimed FINRA, “for the purpose of determining whether or not it constituted suspicious activity that should properly be reported.” Accordingly, FINRA also charged Lightspeed with failure to maintain and follow adequate anti-money laundering procedures and failed to follow its own procedures related to the investigation of potentially suspicious activity and the filing of suspicious activity reports.