TD Ameritrade self-reported the lack of disclosure, which occurred from January 2016 to June 2021, to Finra, according to the settlement.
The Financial Industry Regulatory Authority (Finra) has fined TD Ameritrade Clearing US$500,000 for failing to disclose fully information about callable securities, including exchange-traded notes (ETNs) and preferred securities, to millions of customers over five years. According to the regulator, the lack of disclosure from January 2016 to June 2021 for almost 10 million transactions omitted required statements that the securities were callable, meaning the issuer of the security co
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