FINRA recently today that it has ordered SunTrust Investment Services, Inc. of Atlanta, GA, to pay $1.44 million to resolve charges related to unsuitable unit investment trust (UIT), closed-end fund (CEF) and mutual fund transactions. Of that amount, $900,000 is a fine that includes nearly $224,000 in disgorgement of commissions earned on the unsuitable trades. [...]
Filed under: Securities Fraud | Comment (0)
According to a recent Wall Street Journal article, a court order has scuttled a rule to regulate equity-indexed annuities as securities and that the financial-overhaul bill leaves their regulation under state insurance commissioners. As many eyes were glued to the financial-overhaul bill as it threaded its way to a Senate vote, the U.S. Court of [...]
Filed under: Securities Fraud | Comment (0)