REGISTER NOW A Houston, Texas-based midsize independent broker-dealer will pay $750,000 to settle a FINRA case for alleged systemic supervisory failures relating to excessive trading and variable annuities, according to the signed agreement. The firm, NEXT Financial Group, was also censured and required to retain an independent consultant. Atria Wealth Solutions, which acquired NEXT in June 2019, said NEXT has already enhanced its controls and remains focused on effective compliance practices that protect its advisors and their clients, according to a statement. By settling, NEXT agrees to FINRA’s conditions without admitting or denying the findings. From January 2012 through February 2019, NEXT allegedly failed to establish, maintain and enforce a supervisory system, including written supervisory procedures, reasonably designed to detect and prevent unsuitable short-term trading of mutual funds and municipal bonds in customer accounts and over-concentration of customer accounts in Puerto Rican municipal bonds.