Kovack Advisors pays $900,000 to settle SEC charges over wrap program
The agency charged the firm with failing to monitor whether wrap-fee accounts were in the best interests of clients who did little trading.
Set it and forget it isn't a good approach for investment advisory firms that are putting clients into wrap programs, and another SEC enforcement action is making that point.
Last Friday, Kovack Advisors Inc. agreed to pay nearly $900,000 to settle charges by the Securities and Exchange Commissio
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