The allegations read: Without admitting or denying the allegations, mauro consented to the sanctions and to the entry of findings that he and member firm filed a form u-5 on may 14, 2018 in connection with the termination of a former firm broker's employment that was not accurate. The findings stated that the firm and mauro, its president, directed that the form u-5 should state that the broker had "voluntarily" left the firm, rather than disclosing that they permitted the broker to resign, with the reasons. Earlier, on february 13, 2018, mauro contacted nyse operations staff and requested the suspension of the broker's access to the exchange's premises and systems. The broker never returned to work for the firm, because of the suspension, and registered with another nyse floor broker firm in april 2018. The form u-5 serves, among other things, as a source of information to other firms when they are considering hiring a potential employee, and can assist a prospective employer in conducting due diligence on an applicant. The findings also stated that mauro's firm failed to reasonably establish, document, and maintain an adequate system of risk management controls and supervisory procedures, including certain pre-trade risk controls and post-trade supervision, to ensure compliance with applicable federal securities laws and regulations and exchange rules. As a result, the firm failed to reasonably supervise the activities of its market access customers, including with respect to improper trading activity at or near the nyse open and close between approximately june 2012 and december 2014. The findings stated that the firm, as an nyse member and market access provider, was required to monitor for potentially manipulative trading, supervise the activities of its employees, guard against erroneous orders, and prevent the entry of orders that exceeded appropriate credit limits.
