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Violation Tracker Individual Record

Company: NEXT Financial Group, Inc.
Current Parent Company: Atria Wealth Solutions
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $1,088,358
Year: 2024
Date: January 4, 2024
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: NEXT agreed to pay $663,358 restitution, a fine of $325,000, and costs of £100,000 in settlement of allegations the company failed to adequately supervise an investment advisor representative, resulting in clients being sold unsuitable investments and charged unnecessary fees.
Level of Government: state
Action Type: agency action
Agency: New Hampshire Bureau of Securities Regulation
Civil or Criminal Case: civil
Facility State: New Hampshire
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: privately held
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: investment advisory services
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.