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Finra Suspends Two Brokers Over Reg BI  

The Financial Industry Regulatory Authority has fined and suspended two financial advisors for violating the Securities and Exchange Commission’s Regulation Best Interest through excessive trading. So reports Think Advisor.

finra 2The two New York-based brokers, Todd Anthony Cirella and Edward Scott Short, both were employees of Laidlaw & Co., according to Finra’s orders against them.

Cirella was ordered to a suspension of three months, a $5,000 fine and $27,566 in restitution, while Short was ordered to a suspension of three months, a $5,000 fine and $116,859 in restitution.

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