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TD Ameritrade Hit With $600K FINRA Fine Over Options Trading Approvals
News April 29, 2024 at 12:58 PM
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What You Need To Know
- The brokerage relied on an automated system to approve customers for options trading.
- The system failed to detect red flags, including contradictory statements by customers about their trading experience, FINRA says.
- Most TD Ameritrade accounts moved to Schwab in 2023.
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