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Broker-Dealer Settles FINRA Charges for Supervisory Failures in Sale of ETPs

A broker-dealer settled FINRA charges for failing to implement a supervisory system in connection with the sale to retail investors of leveraged and inverse-indexed exchange-traded products ("ETPs").

To settle the charges, the broker-dealer agreed to (i) a censure, (ii) a $30,000 fine and (iii) restitution in the amount of $92,805 plus interest.

Primary Sources

  1. FINRA AWC: International Assets Advisory, LLC

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Tags

Regulated Activities
Suitability and Consumer Protection Supervision / Compliance
Regulated Entities
Broker-Dealers
Sub-Entity
ETFs
Regulated Products
Structured Products/Converts/Hybrids Investment Funds (as Regulated Product)
Sub-Product
Public Funds / RICs
Body of Law
Securities Law
Jurisdiction
US - Federal
Organization
FINRA / MSRB / SEC Exchanges / SIPC / Accountants
Sub-Author
FINRA