{"id":19881,"date":"2021-07-26T09:16:52","date_gmt":"2021-07-26T14:16:52","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=19881"},"modified":"2021-07-28T09:17:02","modified_gmt":"2021-07-28T14:17:02","slug":"sancturary-wealth-fined-over-etf-sales","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sancturary-wealth-fined-over-etf-sales\/","title":{"rendered":"Sanctuary Wealth To Pay $530K Over Alleged Supervisory Failures Involving Exchange-Traded Fund Sales"},"content":{"rendered":"

Sanctuary Wealth Ordered To Pay Over $370K in Restitution to ETF Customers<\/span><\/h2>\n

Independent broker-dealer Sanctuary Wealth, formerly David A. Noyes & Co., has been censured by the Financial Industry Regulatory Authority (FINRA). It must now pay a $160K fine and over $370K in restitution for its <\/span>failure to supervise<\/span><\/a> certain financial products, including leveraged and inverse exchange-traded funds (ETFs), and its brokers\u2019 external activities.<\/span><\/p>\n

According to the self-regulatory organization (SRO), going as far back as 2014 through the end of 2018 the brokerage firm failed to address in a \u201creasonable\u201d manner the \u201cunique features and risks\u201d involving selling <\/span>inverse and leveraged ETFs<\/span><\/a>, which Sanctuary was required to do according to FINRA\u2019s Rule 2111 regarding suitability.\u00a0<\/span><\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Sanctuary Wealth Ordered To Pay Over $370K in Restitution to ETF Customers Independent broker-dealer Sanctuary Wealth, formerly David A. Noyes & Co., has been censured by the Financial Industry Regulatory Authority (FINRA). It must now pay a $160K fine and over $370K in restitution for its failure to supervise certain financial products, including leveraged and […]<\/p>\n","protected":false},"author":2,"featured_media":19882,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[4023,3967],"tags":[4417,4257,4586],"class_list":["post-19881","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exchange-traded-funds","category-failure-to-supervise","tag-etf-losses","tag-failure-to-supervise","tag-sanctuary-wealth"],"yoast_head":"\nSanctuary Wealth Fined For Failure to Supervise ETF Sales | FINRA Lawyers<\/title>\n<meta name=\"description\" content=\"Sanctuary Wealth has been fined by FINRA for alleged failure to supervise their brokers and the sales of ETFs. Learn more.\" \/>\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\/sancturary-wealth-fined-over-etf-sales\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Sanctuary Wealth Fined For Failure to Supervise ETF Sales | FINRA Lawyers\" \/>\n<meta name=\"twitter:description\" content=\"Sanctuary Wealth has been fined by FINRA for alleged failure to supervise their brokers and the sales of ETFs. 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