Kovack Securities dinged by Finra for A-share trades
The firm was fined $210,000 for falling short on its supervision of short-term mutual fund trades, the regulator said.
The Financial Industry Regulatory Authority Inc. this week reached a settlement and levied a $210,000 fine with midsize broker-dealer Kovack Securities Inc. over the firm's supervision of trades of mutual fund A shares, which are designed to be long-term investments.
Kovack Securities is based i
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