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The firm is also paying $716,000 in restitution to affected customers.
The Financial Industry Regulatory Authority (FINRA) has fined investment bank Oppenheimer & Co. $2.25 million and has ordered the firm to pay restitution of more than $716,000 to affected customers for recommending non-traditional exchange-traded funds (ETFs) that the regulator says “were not suitable” for certain retail investors and were sold “without reasonable supervision.” FINRA’s actions...
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