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Finra cracks down on 'cockroach' brokers

The Financial Industry Regulatory Authority Inc. barred from the securities industry 10 employees, including the president, of a now defunct New York City-based broker-dealer, Global Arena Capital Corp., where the regulator said brokers were using misleading sales pitches, churning accounts and committing various other abuses. The action comes after Finra identified a group of seven brokers whom it placed on heightened supervision when they left HFP Capital Markets, which Finra later expelled, to join Global Arena

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