MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, February 29, 2008 Fund Investors to Get FINRA Fine Money Friday's WSJ FundTrack recaps Thursday's FINRA announcement that five Wall Street heavyweights have settled cases with the industry watchdog for improper mutual fund sales and supervisory violations. UBS, Merrill Lynch, Prudential Financial, Wells Fargo and Pruco Securities all settled charges without admitting or denying findings. At the heart of the cases are allegations that firms improperly sold B and C shares of funds to investors. The more than $25 million in fines assessed by FINRA will be returned to the injured investors. Printed from: MFWire.com/story.asp?s=17554 Copyright 2008, InvestmentWires, Inc. All Rights Reserved |