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FINRA September Disciplinary Actions

Wednesday, October 13, 2010

FINRA had a big month in September. Over 50 firms and individuals either sanctioned or barred. FINRA is working hard to show they are doing thier job and finding the “bad guys”. AML and supervisory isses continue to top the list of violations. Of particular note is SunTrust Investment Services was ordered to pay $1.44 Million for Unsuitable UIT, Closed-End Fund and Mutual Fund Transactions and Deutsche Bank Securities was fined $7.5 Million for Negligent Misrepresentations Related to Subprime Securitizations
Click here to read all the sanctions for September: FINRA September Sanctions