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FINRA fines four firms $2.6m for securities lending violations

FINRA HQ
Photo: Getty Images

Julie DiMauro

1 min read
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Regulator sends strong message on need for care when firms offer fully paid securities lending programs.

Four firms have been sanctioned by FINRA for failing to establish, maintain, and enforce a supervisory system, including written supervisory procedures, reasonably designed to supervise their fully paid securities lending offerings.

The four firms – M1 Finance LLC, Open to the Public Investing, Inc., SoFi Securities LLC, and 

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