Articles Posted in UIT rollover

Supervisory Failures Allegedly Resulted in Unsuitable Trades and Rollovers  Wells Fargo Clearing Services and Wells Fargo Advisors have arrived at a settlement with the Financial Industry Regulatory Authority (FINRA).  The two broker-dealers will pay $3.1M for purportedly not setting up and maintaining a supervisory system that complied with the self-regulatory…

Over 3,000 Customers May Have Been Charged More Than $8.4M in Excessive Sales Fees  The Financial Industry Regulatory Authority (FINRA) announced that Merrill Lynch, Pierce, Fenner & Smith will pay approximately $8.4M in restitution and an over $3.2M fine to settle charges alleging supervisory failures involving unit investment trust (UIT)…