A ruling in an SEC case has fined a longtime investment advisor nearly $1 million and barred him from the industry for life for what his lawyer says was a technical mistake in the way he footnoted magazine advertisements and provided information to Morningstar.

"It's like rolling through a stop sign and you get the death penalty," said Maitland, Fla., attorney Philip Snyderburn, who represented advisor Max Zavanelli of Florida-based ZPR Investment Management. "We were a little shocked."

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