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FINRA Fines Broker $3.2M Over Securities Lending Biz

By Emilie Ruscoe ( February 4, 2025, 10:46 PM EST) -- Broker-dealer Apex Clearing Corp. has agreed to pay the Financial Industry Regulatory Authority $3.2 million to end first-of-its-kind claims that the firm failed to abide by customer protection rules with its fully paid securities lending program, including by misrepresenting how it would compensate participants, leaving certain customers vulnerable to potential tax consequences....

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