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Jesse White

Boca firm expelled from brokerage business for numerous violations

Boca firm expelled from brokerage business for numerous violations

A Boca Raton firm was banned from selling securities after the Financial Industry Regulation Authority found it had engaged in unauthorized trading, kept inaccurate books and even participated in a "fraudulent scheme," according to FINRA records. In a rare move, FINRA expelled a company named iTradedirect.com, from belonging to the private regulatory agency after an investigation found numerous violations from the agency's rules that are not federal laws. Fourteen security companies were expelled last year and 13 so far this year, said FINRA spokeswoman Michelle Ong. The ouster is the equivalent of an attorney being disbarred from a bar association, she added. FINRA is...

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