NOTE: Stipulations of Fact and Consent to Penalty (SFC); Offers of Settlement (OS); and Letters of Acceptance Waiver, and Consent (AWC) are entered into by Respondents without admitting or denying the allegations, but consent is given to the described sanctions & to the entry of findings. Additionally, for AWCs, if FINRA has reason to believe a violation has occurred and the member or associated person does not dispute the violation, FINRA may prepare and request that the member or associated person execute a letter accepting a finding of violation, consenting to the imposition of sanctions, and agreeing to waive such member's or associated person's right to a hearing before a hearing panel, and any right of appeal to the National Adjudicatory Council, the SEC, and the courts, or to otherwise challenge the validity of the letter, if the letter is accepted. The letter shall describe the act or practice engaged in or omitted, the rule, regulation, or statutory provision violated, and the sanction or sanctions to be imposed.
TriCor Financial, LLC and Frank Aguilar (Principal)
Acting through Aguilar, its president and CCO, TriCor failed to file with
FINRA an application for
approval of the change of ownership at least 30 days prior
change in ownership in
which a third-party entity became a 25-percent indirect equity
owner of the firm.
TriCor Financial, LLC: Censured; Fined $15,000 jt/several with Aguilar
Frank Aguilar; Fined $15,000 jt/several with TriCor; Suspended 2 months in Principal capacity only