Aag Capital, Inc has agreed to pay a fine of $ 100,000 as part of a settlement with the Financial Industry Regulatory Authority (Finra).
From February 2021 to the present, AAG Capital has failed to establish and maintain written policies and procedures and a supervisory system that was reasonably designed to comply with the 1934 mobile values law (BIS Regulation) for regulations on retailing Indicators (Rilas).
Regarding the recommendations for the exchange of an existing investment in a Rila, the company’s supervisory system failed to ensure that the recommendations were reasonably considered disadvantages of the exchange resulting from the customer’s delivery from their existing investment.
As a result, the Aag Capital rule violated Article 15L-1 (A) (1) and the Finra 3110 and 2010 rules and have been charged, fined $ 100,000, will take corrective action and pay a refund of $ 38,591.39.
Aag Capital, Inc. He has been a member of Finra since 1962. The company sells private placement securities, mutual funds and registered revenue associated with the index to retail investors, based in Wesley Chapel, Florida and has 35 registered representatives.