Cambria Capital, LLC has agreed to pay a restitution of $48,435 as a part of a settlement with the Financial Industry Regulatory Authority (FINRA).
From March 2019 through June 2021, Cambria charged an unfair commission on 255 transactions. During the same period, Cambria failed to establish and maintain a supervisory system, including written supervisory procedures (WSPs), reasonably designed to achieve compliance with FINRA Rule 2121.
As a result, Cambria violated FINRA Rules 2121, 3110, and 2010.
From April 2019 through August 2021, Cambria failed to establish and maintain a supervisory system, including WSPs, reasonably designed to achieve compliance with FINRA Rule 2111 and, beginning on June 30, 2020, the Care Obligation of Rule 15l-1 of the Securities Exchange Act of 1934 (Reg BI) with respect to…
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