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Summit Brokerage Services (Boca Raton) Fined $250,000 by Regulators- ETF Sales

Summit Brokerage Services (Boca Raton) Fined $250,000 by Regulators- ETF Sales

Summit Brokerage Services (Boca Raton) Fined $250,000 by Regulators- ETF Sales 150 150 Rex Securities Law

December 2, 2015- Boca Raton, FL

Summit Brokerage Services  entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that between June 2009 and December 2010, Summit recommended leveraged and inverse exchange-traded funds(  ETFs)  to certain customers without fully understanding the features and risks associated with them. Summit allowed their brokers to make unsuitable recommendations to purchase nontraditional ETFs to certain customers by failing to conduct adequate due diligence on the products.

AWC No.  2011029635101

Summit Brokerage Services was censured , fined $250,000 ordered to pay restitution of nearly $10,000.

If you have losses in an account at Summit Brokerage Services, contact us to find out how you may be able to recover damages through FINRA arbitration. 

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

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