According to FINRA, Dalmore Group LLC (CRD #136352), based in Woodmere, New York, was censured, fined $375,000, and required to certify remediation of the identified issues. The firm consented to these sanctions without admitting or denying the findings. FINRA found multiple serious compliance failures at the firm. First, Dalmore Group failed to establish and maintain a supervisory system reasonably designed to comply with its suitability and best interest obligations in connection with private placement sales. For some offerings, the firm had no checklist or record of investigation, or had checklists completed by the issuer without any supervisory review by the firm. The firm's written supervisory procedures did not reference Regulation Best Interest (Reg BI) until eight months after it took effect. Second, the firm failed to establish a system reasonably designed to prevent the misuse of material, non-public information. The firm did not regularly distribute its restricted list to representatives and failed to keep the list current. Third, the firm failed to fingerprint non-registered associated persons who were not exempt from fingerprinting requirements. Fourth, the firm failed to report outside business activities (OBAs) for six representatives on their Forms U4 and untimely updated four other representatives' disclosures. Fifth, the firm violated FINRA's communications standards through websites and a video series that featured exaggerated and promissory statements about investment offerings. Sixth, FINRA found that Dalmore willfully violated Section 10(b) of the Exchange Act and Rule 10b-9 by failing to set a date by which a private placement offering's minimum raise contingency had to be met, and by approving investments for disbursement while falling $2 million or more short of the contingency. Finally, the firm failed to provide timely, complete, and accurate responses to FINRA's requests for information, omitting individuals and providing inaccurate job titles for foreign non-registered associated persons. For investors, this case illustrates the risks that can arise when a firm has widespread compliance deficiencies. Proper due diligence on private placements, accurate disclosures, and transparent communications are essential safeguards that protect investors from potential fraud and unsuitable investments.