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The Financial Industry Regulatory Authority disclosed the disciplinary actions reported for the month of November against certain companies for various violations.
The regulator expelled Craig Scott Capital LLC from FINRA membership after an Office of Hearing Officers decision became final. The decision was based on findings that the company, acting through three registered representatives, excessively traded in customer accounts based on the cost-to-equity ratios and turnover rates. No monetary sanctions were imposed.
Additionally, the company censured and fined Virtu Financial Capital Markets LLC, J.P. Morgan Securities LLC, Scottrade Inc., Wedbush Securities Inc. and Chardan Capital Markets LLC.
On Sept. 8, FINRA censured and imposed a fine of...