M1 Finance, Open to the Public Investing, SoFi Securities, and SogoTrade fined $2.6M for securities lending violations
The over $1 million in restitution compensates customers whose securities were lent out over a dividend date.
The over $1 million in restitution compensates customers whose securities were lent out over a dividend date.
Open to the Public Investing, Inc. has agreed to pay a $500,000 fine as a part of a settlement with the Financial Industry Regulatory Authority (FINRA).