Tag Archives: 1st Discount Brokerage

1st Discount Brokerage Fined For Failure To Supervise ETF Sales

November 29, 2016  |   Posted by :   |   Failure To Supervise, Investment and Regulatory News   |   0 Comments

1st Discount Brokerage, headquartered in Lake Worth, Florida, was censured and fined by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm failed to create and implement adequate supervision protocols and systems pertaining to non-traditional exchange traded funds, and failed to provide reasonable supervision pertaining to non-traditional exchange traded fund sales. Letter […]

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1st Discount Brokerage Inc. Fined by SEC for Failure to Supervise

Florida-based brokerage firm 1st Discount Brokerage Inc. has been censured and fined $40,000 by the Securities and Exchange Commission (SEC) for its failure to supervise a broker who defrauded investors of nearly $9 million. In addition, Michael R. Fisher, executive-vice president of the firm at the time, was ordered to pay $10,000, according to the […]

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