Letter of Acceptance, Waiver and Consent (“AWC”)

By October 1, 2015 October 15th, 2017 Glossary

A Letter of Acceptance, Waiver and Consent or AWC is a consent agreement between FINRA and one of its members or associated persons, such as a registered broker, relating to a violation of FINRA rules. As stated in FINRA Rule 9216, “if the Department of Enforcement or the Department of Market Regulation has reason to believe a violation has occurred and the member or associated person does not dispute the violation, the Department of Enforcement or the Department of Market Regulation 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.” Sanctions can include suspension from the industry (either permanent or temporary), censures, and fines.

 

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