FINRA expels Reid & Rudiger, bars cofounders
The Financial Industry Regulatory Authority (FINRA) has expelled from membership Reid & Rudiger LLC.
churning accounts
FCA letter to CFD broker CEOs warns on churn, sending clients offshore, affiliates
According to the FCA approximately 80% of customers lose money when investing in CFDs.
Aegis Capital to pay $2.8M in fines/restitution for churning client accounts
The trading in these accounts caused the customers to incur more than $2.9 million in trading costs.
FINRA bars former Aegis Capital rep for churning customer accounts
Steven Robert Luftschein, while associated with Aegis Capital, churned and excessively traded the accounts of several customers.
Worden Capital to pay $1.5M for churning client accounts
Worden Capital’s registered reps excessively traded customers’ accounts, causing customers to incur more than $1.2 million in commissions.
