Broker-Dealers Collectively Will Pay $550K Fine and Over $3.3M in Restitution 

The Financial Industry Regulatory Authority (FINRA) has fined and censured three brokerage firms after finding that they failed to supervise recommendations of the LJM Preservation and Growth Fund (LJMIX, LJMCX, LJMAX) and did not conduct the proper due diligence into the alternative mutual fund:

  • Cambridge Investment Services will pay a $400K fine plus more than $3M in restitution 

The post Cambridge Investment Services, Securities America, and JW Cole Financial Fined Over LJM Preservation & Growth Fund Recommendations appeared first on Investor Lawyers Blog.