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SEC seeks entries of default against SW Financial reps for violations of Reg BI, excessive trading

The SEC pushes for entries of default against Michael Blumer, John Kuprianchik, David Page, Steven Thompson, and Joseph Todaro.

FINRA announced today that it has expelled Monmouth Capital Management for churning and excessively trading customer accounts.

FINRA finds SW Financial made misrepresentations to customers and violated Reg BI as well as FINRA’s Suitability and Supervision Rules.

Many US broker-dealer firms cling to complex, costly, risky products without alerting investors to lower-cost and lower-risk products.