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FINRA Fines Cetera Firm for Alleged Supervisory Failures

July 10, 2019 by Louis Chunovic

FINRA Fines Cetera Firm for Alleged Supervisory Failures

The Financial Industry Regulatory Authority (FINRA) reports that it has fined Summit Brokerage Services, Inc., an affiliate of the Cetera Financial Group, $880,000 “for supervisory failures, including approximately $558,000 in restitution to customers whose accounts were excessively traded by a former registered representative of the firm who was previously barred by FINRA.” According to FINRA,… Read More >>

Filed Under: Securities Operations, Buy-Side, Data Management, Operational Risk, Reconciliation & Exceptions, Settlement, General Interest, Governance, Diversity, Equity, and Inclusion (DEI), Standards, KYC, AML/Fraud/Financial Crime, Regulation & Compliance, Regulatory Compliance, Regulatory Reporting, Industry News Tagged With: BrokerCheck, Cetera Financial Group, consolidated reports, fine, FINRA, Summit Brokerage Services

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