Fidelity Accused Of “Lackadaisical” Vetting Of Investors Wanting To Trade In Complex, Risky Investments
William Galvin, head of the Massachusetts Securities Division, has filed an administrative complaint against Fidelity Brokerage Services. The firm has been accused of not making a good enough attempt to vet investors’ applications before allowing them to engage in options and margin trading. This led to financial losses for investors.......