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The weekly news source for investment management legal and compliance professionals

News June 3, 2019 Issue

Adviser Waives New ALJ Hearing Despite Lucia Ruling, Settles Charges

An advisory firm and its founder, despite an Appeals Court ordering a rehearing with a different administrative law judge of a previous ALJ decision, on May 16 settled charges with the agency that it engaged in fraudulent trade allocations and misused soft dollars. The firm owner was permanently barred from the securities industry and agreed to pay disgorgement of $669,965.

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