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(Reuters) – The U.S. Securities and Exchange Commission on Tuesday said TradeZero America Inc and co-founder Daniel Pipitone settled charges they falsely told customers that the broker-dealer did not restrict customers’ purchases of so-called meme stocks, when in fact they did.
TradeZero and Pipitone agreed to retain an independent compliance consultant and pay respective penalties of $100,000 and $25,000, without admitting or denying the charges, the SEC said.
