Emerson Equity Llc

Allegations: THE FIRM FAILED TO ESTABLISH, MAINTAIN, AND ENFORCE A SUPERVISORY SYSTEM, INCLUDING WRITTEN PROCEDURES, REASONABLY DESIGNED TO ACHIEVE COMPLIANCE WITH FINRA'S SUITABILITY RULE AS IT PERTAINED TO SHORT-TERM TRADING OF MUTUAL FUND A AND B SHARES FROM JANUARY, 2015 - JUNE, 2020. Status: Final Sanction Detail: DOMINIC BALDINI WAS SUSPENDED IN ALL PRINCIPAL CAPACITIES FOR 20 BUSINESS DAYS, TO BE SERVED FROM JANUARY 18, 2022 THROUGH FEBRUARY 14, 2022. THE FINE OF $65,000 WAS SPLIT BETWEEN THE FIRM ($60,000) AND MR. BALDINI ($5,000). FURTHER, THE FIRM WAS ORDERED TO PAY RESTITUTION IN THE AMOUNT OF $2,013,071.20. THE MAJORITY OF THIS ($1,613,168.28) WAS PAID PRIOR TO THE AWC, WITH THE BALANCE PAID ON 12/31/2021. Summary: IMMEDIATELY UPON NOTIFICATION FROM FINRA OF THE EVENTS OUTLINED IN THE ENFORCEMENT ACTION, THE REPRESENTATIVE WAS TERMINATED, WE BEGAN CONDUCTING OUR OWN INTERNAL REVIEW OF THE MATTER INCLUDING IMMEDIATELY CALCULATING AND BEGINNING RESTITUTION PAYMENTS, AS WELL AS UPDATING THE INTERNAL POLICIES AND PROCEDURES TO BETTER ENSURE AGAINST SIMILAR EVENTS IN THE FUTURE. AS PROVIDED IN THE AWC, THE FIRM AND MR. BALDINI WERE CREDITED FOR EXTRAORDINARY COOPERATION.