FINRA slapped Infinex Investments with a $75,000 fine for selling unsuitable exchange-traded funds to customers.
From April 2009 through March 2011, the broker-dealer allowed 35 registered reps to recommend to customers inverse and inverse-leveraged ETFs without performing reasonable diligence to understand the risks associated with them, according to FINRA.
Register or login for access to this item and much more
All On Wall Street content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access