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Triad Advisors Ordered to Pay Over $1 Million for Poor Supervision

Triad Advisors

Fitapelli Kurta is currently investigating complaints against Triad Advisors, Inc. On March 12, 2014, FINRA ordered Triad to consent to a $650,000 fine as well as customer restitution of at least $375,000 for failing to maintain an adequate supervisory system.  As a result of Triad’s failed supervisory system, the FINRA complaint stated that brokers were allowed to send false reports to customers, resulting in significant financial losses.

At Triad, a number of consolidated reports sent to customers reflected fictitious promissory notes or other fictitious assets, which enabled two representatives to conceal their misconduct.

– FINRA Press Office

Triad was required to maintain an adequate supervisory system pursuant to the rules of FINRA, or the Financial Industry Regulatory Authority. FINRA establishes rules and regulations for the supervision of brokers and branches in order to protect customers.  Although FINRA has fined Triad Advisors for this conduct and ordered some restitution, there may be many more customers who have lost money due to Triad’s inadequate supervisory system.

Triad has been a FINRA member since 1990 and is headquartered in Atlanta, Georgia.  Triad maintains almost 300 offices throughout the United States and has over 600 registered representatives.

If you or someone you know lost money with Triad Advisors please contact us today for a free consultation.

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