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Articles Posted in Regulatory Notice 09-31

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Kansas Investment Adviser’s Recommendation of Nontraditional ETFs Deemed Unsuitable for Client Seeking Income and Growth

Earlier this year, the Kansas Court of Appeals affirmed a district court decision holding that Mark R. Schneider (“Schneider”), an investment adviser representative and broker-dealer, violated the Kansas Uniform Securities Act by recommending nontraditional exchange-traded funds (“ETFs”) to a client whose investment objective was to produce income.  Schneider was ordered…

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