NEXT Financial Consents to $750K FINRA Penalty for Sales Violations

NEXT Financial has already paid $4.3 million in restitution as a result of the sales violations.

next-financial-penalty-for-sales-violationsNEXT Financial is a Houston-based firm that employs 540 brokers and hybrid representatives. NEXT Financial has been the subject of an action brought by the Texas State Securities Board in 2020, several customer arbitration disputes, and a FINRA investigation in addition to a $750k fine in 2017. Most recently, NEXT Financial agreed to a FINRA settlement consenting to findings that a NEXT broker violated a variety of sales rules by making unsuitable short-term trades of mutual funds and over-concentrating customer accounts in Puerto Rican municipal bonds. FINRA’s findings against Next Financial are provided below.

July 2021 Regulatory Judgment

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The Sonn Law Group is currently investigating allegations surrounding NEXT Financial. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.