FINRA fines SogoTrade for alleged rule violations
SogoTrade, Inc has agreed to pay a fine of $75,000 as a part of a settlement with the Financial Industry Regulatory Authority (FINRA).
SogoTrade
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.
FINRA fines SogoTrade for lack of Securities Trader registration of two APs
Despite their direct supervision of customer trading activity, two of SogoTrade’s APs did not have registrations with FINRA as Securities Traders.
