{"id":4002,"date":"2016-12-09T16:07:17","date_gmt":"2016-12-09T22:07:17","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/?p=4002"},"modified":"2022-03-11T13:39:58","modified_gmt":"2022-03-11T19:39:58","slug":"massachusetts-regulator-accuses-broker-dealers-not-properly-supervising-rogue-brokers","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/massachusetts-regulator-accuses-broker-dealers-not-properly-supervising-rogue-brokers\/","title":{"rendered":"Massachusetts Regulator Accuses Broker-Dealers of Not Properly Supervising Rogue Brokers"},"content":{"rendered":"<p>\t\t\t\tAccording to the Massachusetts Securities Division, brokerage firms that hire brokers with troubled disciplinary records are not doing a proper job of supervising them. The state, which recently released its findings from its examination of 241 broker-dealers who are registered in the state and retain an above average number of rogue brokers, said that this relaxed way of self-policing could be harming investors.<\/p>\n<p>According to the division\u2019s report, not a lot of these brokers were put on more rigorous supervision despite their questionable pasts. Massachusetts Secretary of the Commonwealth William Galvin said that it appeared to his office that certain firms were not willing to take on the duty of \u201czealously monitoring\u201d the way these brokers were interacting customers.<\/p>\n<p>It was in June that the Massachusetts Securities Division announced it was cracking down on broker-dealers who hired rogue brokers. The news of its sweep came soon after the Financial Industry Regulatory Authority\u00a0announced it was conducting its own probe.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/massachusetts-regulator-accuses-broker-dealers-not-properly-supervising-rogue-brokers\/#more-4002\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to the Massachusetts Securities Division, brokerage firms that hire brokers with troubled disciplinary records are not doing a proper job of supervising them. The state, which recently released its findings from its examination of 241 broker-dealers who are registered in the state and retain an above average number of rogue brokers, said that this [&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":[3773,3774],"tags":[2645,2644],"class_list":["post-4002","post","type-post","status-publish","format-standard","hentry","category-broker-fraud","category-broker-dealers","tag-rogue-brokers","tag-william-galvin"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Massachusetts Regulator Accuses Broker-Dealers of Not Properly Supervising Rogue Brokers &#8212; Investor Lawyers Blog &#8212; December 9, 2016<\/title>\n<meta name=\"description\" content=\"According to the Massachusetts Securities Division, brokerage firms that hire brokers with troubled disciplinary records are not doing a proper job of &#8212; December 9, 2016\" \/>\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\/massachusetts-regulator-accuses-broker-dealers-not-properly-supervising-rogue-brokers\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Massachusetts Regulator Accuses Broker-Dealers of Not Properly Supervising Rogue Brokers &#8212; Investor Lawyers Blog &#8212; December 9, 2016\" \/>\n<meta name=\"twitter:description\" content=\"According to the Massachusetts Securities Division, brokerage firms that hire brokers with troubled disciplinary records are not doing a proper job of &#8212; December 9, 2016\" \/>\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=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Massachusetts Regulator Accuses Broker-Dealers of Not Properly Supervising Rogue Brokers &#8212; 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