According to FINRA, SpeedTrader, Inc., formerly known as Mint Global Markets, Inc. (CRD #107403), based in Katonah, New York, was censured and required to retain an independent consultant to conduct a comprehensive review of the firm's compliance with its best execution obligations, supervisory obligations, and anti-money laundering (AML) obligations. In light of the firm's financial status, FINRA did not impose a monetary fine. The firm consented to these sanctions without admitting or denying the findings. FINRA found that SpeedTrader failed to comply with its best execution obligations. The firm's reviews for execution quality were initially limited to a manual bi-weekly review of just 10 randomly selected executions, checking only whether the price was inferior to the National Best Bid or Offer (NBBO). Even after automating this review to cover all executions, the firm continued to limit its analysis to price disimprovement. Later expansions to include price improvement, execution speed, and execution size still did not consider the likelihood of execution of limit orders, transaction costs, customer needs, or payment for order flow arrangements. The firm also failed to review the impact that its net trading arrangements with other broker-dealers had on execution quality, despite routing approximately 100 million shares annually through these arrangements. FINRA also found that the firm's supervisory system was not reasonably designed to achieve compliance with best execution requirements. The firm's Rule 606 reports failed to disclose material aspects of its relationships with markets to which it routed orders. Additionally, FINRA found that the firm failed to establish a written AML program reasonably designed to detect suspicious activity and did not investigate red flags of potentially manipulative trading. Furthermore, the firm willfully violated Exchange Act Section 17(a)(1) and Rule 17a-14 by falsely responding "No" to the question on its Form CRS concerning legal or disciplinary history, despite having 16 regulatory actions disclosed on its Form BD. The firm later updated its Form CRS but did not file it with the SEC for another seven months. For investors, this case is a reminder to verify a firm's disciplinary history through FINRA BrokerCheck and to understand how your broker routes and executes your trades.