Citigroup Global Markets Inc. (CRD #7059, New York, New York) recently submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured, fined $25,000, and required to amend its Unit Investment Trust (UIT) confirmations to include a disclosure concerning deferred sales charges and to have a firm officer notify FINRA in writing [...]
The White Law Group announces that it has filed a Financial Industry Regulatory Authority (FINRA) arbitration statement of claim involving investment losses in various UITs, REITs, and variable annuity investments. The claim, filed against NEXT Financial Group, seeks recovery of investment losses of over $500,000. The claim filed by The White Law Group was submitted [...]
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. [...]