{"id":18667,"date":"2020-01-15T13:33:11","date_gmt":"2020-01-15T19:33:11","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=18667"},"modified":"2020-01-16T14:20:24","modified_gmt":"2020-01-16T20:20:24","slug":"oppenheimer-unit-investment-trust-fees","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/oppenheimer-unit-investment-trust-fees\/","title":{"rendered":"Oppenheimer To Pay $3.8M To Customers For Unit Investment Trust Rollover Fees"},"content":{"rendered":"<h2><span style=\"font-weight: 400;\">FINRA Orders Oppenheimer To Pay $3.8M<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Oppenheimer &amp; Co. (OPY) must pay over $3.8M in restitution to customers who may have had to pay excess sales fees for the early rollovers of their United Investment Trusts (UITs). The order comes from the Financial Industry Regulatory Authority (FINRA) and includes an $800K fine for not reasonably supervising these early UIT rollovers.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The self-regulatory organization (SRO) contends that from 1\/2011 to 12\/2015 of the $6.4B of United Investment Trust transactions that Oppenheimer executed, $753.9M of these were early rollovers.\u00a0<\/span><\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/oppenheimer-unit-investment-trust-fees\/\"  title=\"Continue Reading Oppenheimer To Pay $3.8M To Customers For Unit Investment Trust Rollover Fees\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>FINRA Orders Oppenheimer To Pay $3.8M Oppenheimer &amp; Co. (OPY) must pay over $3.8M in restitution to customers who may have had to pay excess sales fees for the early rollovers of their United Investment Trusts (UITs). The order comes from the Financial Industry Regulatory Authority (FINRA) and includes an $800K fine for not reasonably [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":18668,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3773,3786,3941],"tags":[3026,2533,3136,2510],"class_list":["post-18667","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-broker-fraud","category-oppenheimer","category-unit-investment-trust","tag-broker-fraud","tag-finra","tag-oppenheimer","tag-unit-investment-trusts"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Oppenheimer To Pay For Unit Investment Trust Fees | Investor Lawyers<\/title>\n<meta name=\"description\" content=\"Oppenheimer ordered to pay $3.8M to customers over the unsuitable recommendation of rolling over Unit Investment Trust transactions.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/oppenheimer-unit-investment-trust-fees\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Oppenheimer To Pay For Unit Investment Trust Fees | Investor Lawyers\" \/>\n<meta name=\"twitter:description\" content=\"Oppenheimer ordered to pay $3.8M to customers over the unsuitable recommendation of rolling over Unit Investment Trust transactions.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2020\/01\/neonbrand-8fDhgAN5zG0-unsplash-1.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Oppenheimer To Pay For Unit Investment Trust Fees | Investor Lawyers","description":"Oppenheimer ordered to pay $3.8M to customers over the unsuitable recommendation of rolling over Unit Investment Trust transactions.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/oppenheimer-unit-investment-trust-fees\/","twitter_card":"summary_large_image","twitter_title":"Oppenheimer To Pay For Unit Investment Trust Fees | Investor Lawyers","twitter_description":"Oppenheimer ordered to pay $3.8M to customers over the unsuitable recommendation of rolling over Unit Investment Trust transactions.","twitter_image":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2020\/01\/neonbrand-8fDhgAN5zG0-unsplash-1.jpg","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/oppenheimer-unit-investment-trust-fees\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/oppenheimer-unit-investment-trust-fees\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Oppenheimer To Pay $3.8M To Customers For Unit Investment Trust Rollover Fees","datePublished":"2020-01-15T19:33:11+00:00","dateModified":"2020-01-16T20:20:24+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/oppenheimer-unit-investment-trust-fees\/"},"wordCount":410,"image":{"@id":"https:\/\/www.investorlawyers.com\/blog\/oppenheimer-unit-investment-trust-fees\/#primaryimage"},"thumbnailUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2020\/01\/neonbrand-8fDhgAN5zG0-unsplash-1.jpg","keywords":["broker fraud","FINRA","Oppenheimer","Unit Investment Trusts"],"articleSection":["Broker Fraud","Oppenheimer","Unit Investment Trust"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/oppenheimer-unit-investment-trust-fees\/","url":"https:\/\/www.investorlawyers.com\/blog\/oppenheimer-unit-investment-trust-fees\/","name":"Oppenheimer To Pay For Unit Investment Trust Fees | Investor Lawyers","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/oppenheimer-unit-investment-trust-fees\/#primaryimage"},"image":{"@id":"https:\/\/www.investorlawyers.com\/blog\/oppenheimer-unit-investment-trust-fees\/#primaryimage"},"thumbnailUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2020\/01\/neonbrand-8fDhgAN5zG0-unsplash-1.jpg","datePublished":"2020-01-15T19:33:11+00:00","dateModified":"2020-01-16T20:20:24+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"Oppenheimer ordered to pay $3.8M to customers over the unsuitable recommendation of rolling over Unit Investment Trust transactions.","breadcrumb":{"@id":"https:\/\/www.investorlawyers.com\/blog\/oppenheimer-unit-investment-trust-fees\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.investorlawyers.com\/blog\/oppenheimer-unit-investment-trust-fees\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.investorlawyers.com\/blog\/oppenheimer-unit-investment-trust-fees\/#primaryimage","url":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2020\/01\/neonbrand-8fDhgAN5zG0-unsplash-1.jpg","contentUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2020\/01\/neonbrand-8fDhgAN5zG0-unsplash-1.jpg","width":2049,"height":1604,"caption":"Oppenehiemer customers forced to pay millions of dollars in excess sales fees for Unit Investment Trust transactions."},{"@type":"BreadcrumbList","@id":"https:\/\/www.investorlawyers.com\/blog\/oppenheimer-unit-investment-trust-fees\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.investorlawyers.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Oppenheimer To Pay $3.8M To Customers For Unit Investment Trust Rollover Fees"}]},{"@type":"WebSite","@id":"https:\/\/www.investorlawyers.com\/blog\/#website","url":"https:\/\/www.investorlawyers.com\/blog\/","name":"Investor Lawyers Blog","description":"Published By Investment Fraud Attorneys \u2014 Shepherd Smith Edwards &amp; 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