A firm settled FINRA charges for failing to detect that its representative recommended an unsuitable investment strategy.
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A firm settled FINRA charges for selling variable annuities without properly implementing the firm's written supervisory procedures on recommendations and sales.
A firm settled FINRA charges for failing to supervise its representatives' recommendations regarding variable annuities, mutual funds and 529 plans.
A broker-dealer subsidiary of a life insurance company agreed to pay a $1.75 million fine to settle charges that it had committed supervisory failures in connection with the sale of variable annuities. FINRA found that the subsidiary established a compensation scheme that exacerbated conflicts of interest.
FINRA fined eight firms for failing to supervise adequately the sales of variable annuities, and other sales practice violations.