Placing clients in risky ETFs draws $685 penalty for dual registrant

Benjamin Edwards failed to implement advisory policies and procedures reasonably designed to prevent unsuitable recommendations that their retail advisory clients buy and hold the Complex ETPs for extended periods. As a result, Benjamin Edwards’s retail brokerage customers and advisory clients bought and held the Complex ETPs for extended periods in approximately 201 accounts and lost on average more than 41 percent of the amounts they invested

To read this article, you need to sign in.


You should only be asked to sign in once. Not the case? Click here


New to Regulatory Compliance Watch?

Register now to read this article and more for free.