AEGIS CAPITAL INVESTOR ALERT: National Investor Fraud Law Firm KlaymanToskes Investigates Aegis Capital after FINRA Sanctions Aegis Capital and its Melville Branch Manager For Supervisory Violations Costing Investors Millions

AEGIS CAPITAL INVESTOR ALERT: National Investor Fraud Law Firm KlaymanToskes Investigates Aegis Capital after FINRA Sanctions Aegis Capital and its Melville Branch Manager For Supervisory Violations Costing Investors Millions

FINRA sanctions Aegis Capital for $2.8 million including $1.7 million in restitution to customers for excessive and unsuitable trading in Aegis’ customer accounts. The remaining $1.1 million of the sanction represents a fine by FINRA for Aegis’ supervisory violations. FINRA Investigation FINRA investigated and identified Aegis’ failure to design and implement a reasonably effective supervisory system to comply with FINRA’s suitability requirements for the period of July 2014 through December 2018. As such, Aegis failed to recognize potentially excessive and unsuitable trading in customer accounts. Aegis also failed to act on 700 out of 900 exception reports specifically designed to…