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FINRA Fines and Sanctions

FINRA fines and sanctions are disciplinary actions taken against brokerage firms and its representatives for violating FINRA sales practice rules and regulations. Failure of member brokerage firms to supervise the activities of its registered representatives in compliance with the FINRA sales practice rules and regulations can result in fines and sanctions.

FINRA fines and sanctions are reported to safeguard the investing public against similar sales practices in customer accounts. Failure to comply with the standards of care set forth by FINRA sales practice rules and regulations may result in a legal cause of action filed in a FINRA arbitration claim. A FINRA arbitration claim may result in the recovery of damages from member firms and their employees.

Brokerage firms and registered representatives’ violations of FINRA sales practice rules and regulations can be characterized by various infractions can result in a legal cause of action. FINRA sales practice violations which can result in claims for damages include:

Unsuitable Investment Advice Margin Calls
Breach of Fiduciary Duty Negligence
Misrepresentations & Omissions Unauthorized Trading
Excessive Trading/Churning Securities Concentration
Mutual Fund Switching Failure to Supervise
Mutual Fund Sales Breakpoint Violations Variable Annuity Switching
Conflicts of Interest Excessive Markups/Markdowns
Selling Away (Private Securities Transactions) Private Placements (Reg D)
Crowdfunding (Reg A) Elder Financial Fraud

 

 

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