← Broker database 2026-03-02
Tradier Brokerage Fined $75,000 for Failing to Report Hundreds of Customer Complaints to FINRA
According to FINRA, Tradier Brokerage, Inc. (CRD #104982) of Charlotte, North Carolina, was censured and fined $75,000 after FINRA found it failed to accurately report statistical and summary information regarding written customer complaints as required by FINRA Rule 4530(d).
The firm's filings included fewer than twenty complaints when, in reality, hundreds of written complaints had been received from customers. The omitted complaints addressed a wide range of issues including problems with the functionality of the firm's online trading system and website, poor customer service, and issues related to margin and options trading on the firm's platform. By significantly underreporting the volume of complaints, the firm presented a materially incomplete picture of its customer service performance to regulators.
FINRA also found that the firm failed to establish, maintain, or enforce a supervisory system, including written supervisory procedures (WSPs), reasonably designed to achieve compliance with the complaint reporting rule. Client service representatives were responsible for reviewing and escalating written customer communications, and compliance personnel were responsible for identifying and reporting complaints. However, the firm's training and WSPs failed to provide reasonable guidance on how to identify which customer communications qualified as complaints or how to determine whether complaints met the threshold for inclusion in statistical filings. Without clear guidance, representatives were left without a reliable framework to identify reportable complaints.
Following FINRA's findings, the firm implemented improvements to its supervisory procedures and increased training related to complaint reporting requirements.
FINRA Rule 4530 exists to ensure that regulators have an accurate, ongoing picture of customer concerns at member firms. Complaint data is a critical early-warning tool: patterns of complaints can signal systemic problems with a firm's products, practices, or customer service that, left unaddressed, can cause widespread investor harm. When firms underreport complaints — whether intentionally or due to inadequate procedures — this early-warning function is compromised.
Investors who have filed complaints with their brokerage firm should be aware that those complaints are generally reportable to FINRA. If you believe your complaint was not handled appropriately or was not forwarded to FINRA, you may file a complaint directly through FINRA's online complaint center at finra.org/investors/have-problem.