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FINRA alleges the firm’s supervisory situation led to excessive trading of customer accounts.
FINRA, the financial services industry’s self-regulatory authority, has levied fines and a sanction against Aegis Capital Corp. and two of its supervisors, Joseph Giordano and Roberto Birardi. Aegis Capital neither admits nor denies the FINRA accusations. However, Aegis will pay $1.7 million in restitution to 68 customers “whose accounts were potentially excessively and unsuitably traded...
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