{"id":8144,"date":"2019-05-17T16:58:17","date_gmt":"2019-05-17T20:58:17","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=8144"},"modified":"2019-05-17T16:58:17","modified_gmt":"2019-05-17T20:58:17","slug":"cetera-fined-1-4m-for-churning-broker","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/cetera-fined-1-4m-for-churning-broker\/","title":{"rendered":"Cetera Fined $1.4M For Churning Broker"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-4544 size-medium\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Churning-1024x683-300x200.jpg\" alt=\"You may have heard the term \u201cchurning\u201d in discussions of investments and securities. But you probably won\u2019t know what it means unless you\u2019ve actually experienced it. (Hint: it has nothing to do with butter.)\u201cChurning\u201d is when a broker and\/or firm conducted extra trading in your account for the sole purpose of earning additional commissions from the transactions. If you\u2019ve ever looked at an account statement and thought, \u201cthat\u2019s quite a lot of broker commissions,\u201d it could mean that your account has been churned.Cetera Advisor Networks will be paying about $1.4 million in fines and restitution related to a former broker who made multiple short-term mutual fund purchases. The broker received sales awards in 2013 and 2014 from the firm. FINRA fined Cetera $700,000, and ordered the firm to pay $691,800 in customer restitution.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Churning-1024x683-300x200.jpg 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Churning-1024x683-768x512.jpg 768w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Churning-1024x683.jpg 1024w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Churning-1024x683-1000x667.jpg 1000w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Churning-1024x683-180x120.jpg 180w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>You may have heard the term \u201cchurning\u201d in discussions of investments and securities. But you probably won\u2019t know what it means unless you\u2019ve actually experienced it. (Hint: it has nothing to do with butter.)<\/p>\n<p>\u201cChurning\u201d is when a broker and\/or firm conducted extra trading in your account for the sole purpose of earning additional commissions from the transactions. If you\u2019ve ever looked at an account statement and thought, <em>\u201cthat\u2019s quite a lot of broker commissions,\u201d <\/em>it could mean that your account has been churned. <a href=\"https:\/\/www.silverlaw.com\/blog\/cetera-fined-1-4m-for-churning-broker\/#more-8144\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>You may have heard the term \u201cchurning\u201d in discussions of investments and securities. But you probably won\u2019t know what it means unless you\u2019ve actually experienced it. (Hint: it has nothing to do with butter.) \u201cChurning\u201d is when a broker and\/or firm conducted extra trading in your account for the sole purpose of earning additional commissions [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[589,587],"tags":[],"class_list":["post-8144","post","type-post","status-publish","format-standard","hentry","category-churning-2","category-mutual-funds"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cetera Fined $1.4M For Churning Broker<\/title>\n<meta name=\"description\" content=\"Cetera Advisor Networks will be paying about $1.4 million in fines and restitution related to a former broker for churning.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silverlaw.com\/blog\/cetera-fined-1-4m-for-churning-broker\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Cetera Fined $1.4M For Churning Broker\" \/>\n<meta name=\"twitter:description\" content=\"Cetera Advisor Networks will be paying about $1.4 million in fines and restitution related to a former broker for churning.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Churning-1024x683.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Silver Law Group\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Cetera Fined $1.4M For Churning Broker","description":"Cetera Advisor Networks will be 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minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.silverlaw.com\/blog\/cetera-fined-1-4m-for-churning-broker\/#article","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/cetera-fined-1-4m-for-churning-broker\/"},"author":{"name":"Silver Law Group","@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"headline":"Cetera Fined $1.4M For Churning Broker","datePublished":"2019-05-17T20:58:17+00:00","mainEntityOfPage":{"@id":"https:\/\/www.silverlaw.com\/blog\/cetera-fined-1-4m-for-churning-broker\/"},"wordCount":381,"image":{"@id":"https:\/\/www.silverlaw.com\/blog\/cetera-fined-1-4m-for-churning-broker\/#primaryimage"},"thumbnailUrl":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Churning-1024x683-300x200.jpg","articleSection":["Churning","Mutual 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