The Financial Industry Regulatory Authority (FINRA) has ordered Oppenheimer & Co. Inc. to pay more than $3.8 million in restitution to customers who incurred “potentially excessive sales charges” caused by early rollovers of unit investment trusts (UITs). The securities regulator also fined the firm $800,000 for failing to reasonably supervise the early UIT rollovers.
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An Oklahoma judge has ordered J.P. Morgan Chase & Co to pay more than $18 million to a trust for what the judge ruled was an improper recommendation of a complex security that was unsuitable for the trust and ultimately benefited the
One of the biggest cons on Wall Street is happening every single day inside the largest and most powerful brokerage houses in the business. Its primary target is senior citizens who have money to invest and very limited investment experience. This
FINRA Fires Three Arbitrators who Awarded $520k to Claimants
As a stock fraud attorney who’s been in the business for a long time, I experience the unique challenges of FINRA (Financial Industry Regulato
As of July 9, FINRA has upgraded its suitability requirements. The new standards require broker dealers to exercise a higher degree of diligence when getting to know the needs and goals of their clients. As a result of the new rules, stock broke