New York-based brokerage Joseph Stone Capital LLC has been fined $1m by US regulator FINRA after it was found to have excessively traded some customers’ accounts. Eight current or former representatives of the firm have been suspended and required to pay restitution to the customers concerned, three supervisors suspended for
Broker hit with $1m fines and staff suspensions for excessive trading
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Failure to stem tide of excessive trades leads to heavy punishment from FINRA.