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BD Violated Reg BI With Excessive Trading That Cost Clients $1M: SEC
News October 18, 2024 at 11:43 AM
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What You Need To Know
- PHX must pay nearly $350,000 for violating Reg BI via excessive trading in eight customer accounts.
- Customers suffered losses exceeding $1M, while PHX and Baris Cabalar made over $400,000 in commissions and fees.
- PHX failed reasonably to supervise Cabalar, the SEC said.
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