Self-Regulatory Agency Suspends Stockbroker

A Valencia stockbroker was fined $10,000 and suspended from the National Assn. of Securities Dealers for five years for allegedly using high-pressure sales tactics, the NASD said.

The NASD, a self-regulatory agency that governs the over-the-counter market, alleged that broker Akiva Bar “churned” clients’ accounts to generate commissions and made false and misleading statements during his sales pitches.

Bar agreed to the fine and suspension without admitting or denying any wrongdoing.