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FINRA disciplinary action update 2025/47

Montage of person walking by the FINRA sign.
GRIP Montage: Getty Images

Disciplinary decisions issued December 13 – 19, 2025.

Spartan Capital Securities and some staff charged with alleged misconduct that included churning and excessive trading

According to the FINRA complaint, for more than four years Spartan “defrauded customers by engaging in widespread churning, generating millions in revenue and causing customers millions in harm.” According to FINRA, “Spartan’s business model