FINRA Expels New York Broker/Dealer for Excessive Churning
The Financial Industry Regulatory Authority (FINRA) has expelled a New York-based broker/dealer, Reid & Rudiger, due to excessive churning and violations of federal securities regulations. The firm's co-founders were also barred from the industry after regulators found that their trading strategies caused significant customer losses over nearly six years.
Topics: broker misconduct churning FINRA Regulation Best Interest