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June 2017 Archives

Trading of Short- Term Unit Investment Trusts Ends with Suspension and Fines

FINRA suspended ex LPL broker, Mark Tauzin, from the securities industry for eight months for unsuitable short-term trading of unit investment trusts (UITs). FINRA alleged the short term trading was for the purpose of generating excessive commissions. FINRA ordered Tauzin to repay clients $205,000 plus interest and also fined Tauzin $20,000.

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