SEC brings RegBI action against dually registered firm for flouting rule’s care obligations

SEC alleges the firm and representative failed to exercise reasonable diligence, care, and skill in making recommendations.

The SEC brought a cease-and-desist order against LifeMark Securities Corp, settling the matter with the company without requiring admissions or denials, based on LifeMark’s alleged violation of the SEC’s Regulation Best Interest (RegBI) rules. The company is headquartered in Rochester, NY, as a dually registered broker-dealer and investment adviser

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