FINRA fines Firstrade Securities for crypto communications violating content standards
Firstrade Securities, Inc has agreed to pay a fine of $85,000 as a part of a settlement with the Financial Industry Regulatory Authority (FINRA).
During the relevant period (from July to September 2022), Firstrade Securities distributed communications regarding crypto assets offered by its affiliate. The affiliate required customers who wished to purchase crypto assets to maintain brokerage accounts with Firstrade Securities.
Between July and September 2022, Firstrade Securities distributed 33 communications concerning crypto assets or crypto asset-related services-including website pages and social media posts that were broadly available-that violated one or more of the content standards in…
