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Cetera’s Summit Brokerage Services pays $880K to settle charges that accounts were excessively traded.
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,...
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