{"id":1919,"date":"2017-11-26T20:50:52","date_gmt":"2017-11-27T02:50:52","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=1919"},"modified":"2022-03-22T15:07:46","modified_gmt":"2022-03-22T20:07:46","slug":"finra-cases-craig-scott-capital-expelled-excessive-trading-claims-cfd-investments-fined-30k-resolve-inadequate-supervision-allegations-involving-etfs-h-beck-broker-accused-makin","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/finra-cases-craig-scott-capital-expelled-excessive-trading-claims-cfd-investments-fined-30k-resolve-inadequate-supervision-allegations-involving-etfs-h-beck-broker-accused-makin\/","title":{"rendered":"FINRA Cases: Craig Scott Capital Expelled Over Excessive Trading Claims, CFD Investments Fined $30K to Resolve Inadequate Supervision Allegations Involving ETFs, and H. Beck Broker is Accused of Making Unsuitable Investment Recommendations"},"content":{"rendered":"<h2><strong>Craig Scott Capital, LLC Loses FINRA Membership After Its Representatives Are Accused of Excessive Trading<\/strong><\/h2>\n<p>The Financial Industry Regulatory Authority has expelled Craig Scott Capital, LLC over finding that three of the firm\u2019s registered representatives allegedly engaged in<a href=\"https:\/\/www.investorlawyers.com\/broker-misconduct.html\" target=\"_blank\" rel=\"noopener noreferrer\"> excessive trading<\/a> in the accounts of customers. The self-regulatory organization said that the charges imposed on customers, including markdowns, markups, and commissions, were not in line with the latter\u2019s financial states and goals.<\/p>\n<p>Now, FINRA is holding Craig Scott Capital accountable for the excessive trading, which it described as churning. This type of excessive trading involves making trades in a customer\u2019s account in order to earn a commission.<\/p>\n<p>FINRA is also accusing the firm of not putting into place and enforcing a \u201creasonable supervisory system\u201d to prevent excessive trading and <a href=\"https:\/\/www.investorlawyers.com\/investor-claims\/broker-misconduct\/failure-to-supervise\/\" target=\"_blank\" rel=\"noopener noreferrer\">failing to properly supervise <\/a>the registered representatives involved in the alleged wrongdoing so these behaviours could have been prevented. The regulator accused Craig Scott\u2019s owners of not taking reasonable action even though they detected the red flags indicating that excessive trading might be taking place.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/finra-cases-craig-scott-capital-expelled-excessive-trading-claims-cfd-investments-fined-30k-resolve-inadequate-supervision-allegations-involving-etfs-h-beck-broker-accused-makin\/#more-1919\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Craig Scott Capital, LLC Loses FINRA Membership After Its Representatives Are Accused of Excessive Trading The Financial Industry Regulatory Authority has expelled Craig Scott Capital, LLC over finding that three of the firm\u2019s registered representatives allegedly engaged in excessive trading in the accounts of customers. The self-regulatory organization said that the charges imposed on customers, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3953,3783,4023,3739,3776],"tags":[2918,2919,2920],"class_list":["post-1919","post","type-post","status-publish","format-standard","hentry","category-arbitration-rulings","category-broker-misconduct","category-exchange-traded-funds","category-finra","category-finra-settlements","tag-cfd-investments","tag-craig-scott-capital","tag-h-beck"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FINRA Cases: Craig Scott Capital Expelled Over Excessive Trading Claims &#8212; Investor Lawyers Blog<\/title>\n<meta name=\"description\" content=\"Craig Scott Capital, LLC lost its FINRA membership over finding that three registered representatives allegedly engaged in excessive trading.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/finra-cases-craig-scott-capital-expelled-excessive-trading-claims-cfd-investments-fined-30k-resolve-inadequate-supervision-allegations-involving-etfs-h-beck-broker-accused-makin\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"FINRA Cases: Craig Scott Capital Expelled Over Excessive Trading Claims &#8212; Investor Lawyers Blog\" \/>\n<meta name=\"twitter:description\" content=\"Craig Scott Capital, LLC lost its FINRA membership over finding that three registered representatives allegedly engaged in excessive trading.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FINRA Cases: Craig Scott Capital Expelled Over Excessive Trading Claims &#8212; Investor Lawyers Blog","description":"Craig Scott Capital, LLC lost its FINRA membership over finding that three registered representatives allegedly engaged in excessive trading.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/finra-cases-craig-scott-capital-expelled-excessive-trading-claims-cfd-investments-fined-30k-resolve-inadequate-supervision-allegations-involving-etfs-h-beck-broker-accused-makin\/","twitter_card":"summary_large_image","twitter_title":"FINRA Cases: Craig Scott Capital Expelled Over Excessive Trading Claims &#8212; Investor Lawyers Blog","twitter_description":"Craig Scott Capital, LLC lost its FINRA membership over finding that three registered representatives allegedly engaged in excessive trading.","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/finra-cases-craig-scott-capital-expelled-excessive-trading-claims-cfd-investments-fined-30k-resolve-inadequate-supervision-allegations-involving-etfs-h-beck-broker-accused-makin\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/finra-cases-craig-scott-capital-expelled-excessive-trading-claims-cfd-investments-fined-30k-resolve-inadequate-supervision-allegations-involving-etfs-h-beck-broker-accused-makin\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"FINRA Cases: Craig Scott Capital Expelled Over Excessive Trading Claims, CFD Investments Fined $30K to Resolve Inadequate Supervision Allegations Involving ETFs, and H. 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