The AWC related to FINRA’s claims that CAMS failed to reasonably supervise its representatives’ sale of variable annuities and distribution of consolidated reports. FINRA also alleged that CAMS failed to reasonably supervise email communications and private securities transactions. FINRA alleged that CAMS’s conduct violated various FINRA rules.
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As explained by FINRA, a “consolidated report” is a document provided by a registered representative to a customer that combines account information regarding most or all of a customer’s assets.
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