The Financial Industry Regulatory Authority (FINRA) fined Broker Dealer Financial Services $75,000 for selling unsuitable non-traditional exchange-traded funds (ETFs). Broker Dealer Financial Services sold the ETFs between 2009 and 2012, without investigating them. ETFs are extremely risky investments and should not be offered to unsophisticated investors. They are meant to be traded on a daily basis, and the longer they are held, the less likely it is the investor will see a return on his or her investment. If a firm such as Broker Dealer Financial Services does not do their due diligence and sells risky, unsuitable investments, the firm can be liable for losses incurred. Please call our securities law firm at 312-332-4200 to speak to an attorney about your possible case if you lost money with Broker Dealer Financial Services.
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