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In a wake up call for broker-dealers, the Financial Industry Regulatory Authority (FINRA) has slapped a whopping fine of $500,000 on Oppenheimer & Co. for failing to properly supervise certain trades. As reported, Oppenheimer's brokers are under target for directly placing trades with fund companies on behalf of customers without requisite inspection bringing the supervisory under scanner for lapses in framework.  Let’s look at the case and try to understand the situation at hand, the importance of supervision in brokerage firms, and why consulting a securities fraud lawyer is essential to safeguard your interests in such a case.  The Oppenheimer & Co. Case(FINRA): An Overview It all happened between January 2011 and December 2015 when Oppenheimer and Co., a big bull in the New York broker-dealer segment, processed around $753 million in early rollovers of UIT transactions out of the total $6.4 Billion.  FINRA, which is a not-for-profit organization working towards ensuring investor protection and market integrity, identified lapses in [...]