New York, NY securities attorney Jenice L. Malecki talks about who can be held liable in a FINRA conduct case. She explains that both individuals and brokerage firms can be held liable for violations of the conduct rules. Individuals are accountable for actively engaging in the prohibited conduct, while firms can be held responsible for failing to properly supervise that conduct. Firms are expected to maintain adequate policies, procedures, and reporting systems to identify and prevent wrongful behavior.