Texas State Securities Board: Lubbock Adviser Fined $40,000 for Failure to Supervise Accounts
August 05, 2019
August 05, 2019
AUSTIN, Texas, Aug. 5 -- The Texas State Securities Board issued the following news release:
Lubbock investment adviser Lowell & Company Inc. paid a $40,000 fine to the State of Texas for failing to supervise a representative who nearly wiped out the assets in two client accounts by holding onto an exchange-traded fund designed for short-term trading.
Besides the fine, the Aug. 2 Disciplinary Order (https://www.ssb.texas.gov/sites/default/files/Lowell%20Order%20No.% . . .
Lubbock investment adviser Lowell & Company Inc. paid a $40,000 fine to the State of Texas for failing to supervise a representative who nearly wiped out the assets in two client accounts by holding onto an exchange-traded fund designed for short-term trading.
Besides the fine, the Aug. 2 Disciplinary Order (https://www.ssb.texas.gov/sites/default/files/Lowell%20Order%20No.% . . .