FINRA Orders Wells Fargo, Raymond James, and LPL Financial to Pay More Than $30 Million in Restitution to Retirement Accounts and Charities Overcharged for Mutual Funds

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FINRA Orders Wells Fargo, Raymond James, and LPL Financial to Pay More Than $30 Million in Restitution to Retirement Accounts and Charities Overcharged for Mutual Funds

FINRA has ordered Wells Fargo Advisors, LLC, Wells Fargo Advisors Financial Network, LLC, Raymond James & Associates, Inc., Raymond James Financial Services, Inc. and LPL Financial LLC to pay more than $30 million in restitution, including interest, to affected customers for failing to waive mutual fund sales charges for certain charitable and retirement accounts.

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FINRA Orders an Additional Five Firms to Pay $18 Million in Restitution to Charities and Retirement Accounts Overcharged for Mutual Funds

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FINRA Orders an Additional Five Firms to Pay $18 Million in Restitution to Charities and Retirement Accounts Overcharged for Mutual Funds

FINRA order Edward Jones, Stifel Nicolaus, Janney Montgomery, AXA and Stephens to pay $18 million in restitution for overcharging customers and failing to adequately supervise the sale of mutual funds that offered sales charge waivers. 

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FINRA Fines Cantor Fitzgerald & Co. $7.3 Million for Selling Billions of Unregistered Microcap Shares

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FINRA Fines Cantor Fitzgerald & Co. $7.3 Million for Selling Billions of Unregistered Microcap Shares

FINRA has fined Cantor Fitzgerald & Co. $6 million and ordered disgorgement of nearly $1.3 million in commissions, plus interest, for selling billions of unregistered microcap shares in violation of federal law and failing to have adequate supervisory or anti-money laundering (AML) programs tailored to detect "red flags".

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Royal Alliance hit with $884,222.55 Arbitration Award for Breach of Fiduciary Duty Related to the Surrender of a Variable Universal Life Policy.

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Royal Alliance hit with $884,222.55 Arbitration Award for Breach of Fiduciary Duty Related to the Surrender of a Variable Universal Life Policy.

Orphaned Children from Los Angeles, California, Made Whole, Receive Full Life Insurance Death Benefit and Costs of Arbitration

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