Finra fines small New York broker-dealer for Reg BI failures
Finra's action against Long Island Financial Group is yet another indication of its dissatisfaction with the industry's implementation of Reg BI.
The Financial Industry Regulatory Authority Inc. on Friday fined a five-person broker-dealer on Long Island $35,000 for a variety of shortcomings dating back to June 2020, when Regulation Best Interest became the standard of conduct for brokers registered with Finra.
For 2½ years, Long Island F
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