ARTICLE
9 December 2019

Broker-Dealer Settles FINRA Charges For Supervisory Failures In Sale Of ETPs

CW
Cadwalader, Wickersham & Taft LLP

Contributor

Cadwalader, established in 1792, serves a diverse client base, including many of the world's leading financial institutions, funds and corporations. With offices in the United States and Europe, Cadwalader offers legal representation in antitrust, banking, corporate finance, corporate governance, executive compensation, financial restructuring, intellectual property, litigation, mergers and acquisitions, private equity, private wealth, real estate, regulation, securitization, structured finance, tax and white collar defense.
A broker-dealer settled FINRA charges for failing to implement a supervisory system in connection with the sale to retail investors of leveraged
United States Finance and Banking
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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.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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