Triad Advisors dinged $194,000 by Finra over supervision
Short-term mutual fund trades and variable annuity switching is generally regarded in the retail securities industry as a way for brokers and advisers to increase commissions at the expense of clients.
The Financial Industry Regulatory Authority Inc. on Tuesday said it had fined Triad Advisors, one of the Advisor Group network broker-dealers, $150,000 for failing to adequately supervise short term trades of mutual fund A shares and variable annuity exchanges, known as switches in the industry.
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