IBD's consolidated account statements cause fine
Firm: Triad Advisors
Fine Amount: $650,000
Restitution Amount: $375,000
Total Paid by Firm: $1,025,000
Cause: Triad was fined, along with another Ladenburg Thalmann-owned broker-dealer, because of a failure to supervise hundreds of brokers who created and sent false and inaccurate consolidated account statements to clients.