{"id":19831,"date":"2021-07-06T09:48:11","date_gmt":"2021-07-06T14:48:11","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=19831"},"modified":"2021-07-06T09:48:11","modified_gmt":"2021-07-06T14:48:11","slug":"merrill-lynch-unit-investment-trust-rollovers","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/merrill-lynch-unit-investment-trust-rollovers\/","title":{"rendered":"Merrill Lynch To Pay $11.6M To Settle FINRA Case Over Unsuitable Unit Investment Trust Rollovers"},"content":{"rendered":"<h2><span style=\"font-weight: 400;\">Over 3,000 Customers May Have Been Charged More Than $8.4M in Excessive Sales Fees\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The Financial Industry Regulatory Authority (FINRA) announced that Merrill Lynch, Pierce, Fenner &amp; Smith will pay approximately $8.4M in restitution and an over <\/span><a href=\"https:\/\/www.finra.org\/media-center\/newsreleases\/2021\/finra-orders-merrill-lynch-pierce-fenner-smith-inc-pay-84-million\"><span style=\"font-weight: 400;\">$3.2M fine to settle charges alleging supervisory failures<\/span><\/a><span style=\"font-weight: 400;\"> involving unit investment trust (UIT) rollovers.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The self-regulatory organization (SRO) contends that over 3,000 customers may have been excessively charged over $8.4M in sales fees related to early rollovers.\u00a0<\/span><\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/merrill-lynch-unit-investment-trust-rollovers\/\"  title=\"Continue Reading Merrill Lynch To Pay $11.6M To Settle FINRA Case Over Unsuitable Unit Investment Trust Rollovers\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Over 3,000 Customers May Have Been Charged More Than $8.4M in Excessive Sales Fees\u00a0 The Financial Industry Regulatory Authority (FINRA) announced that Merrill Lynch, Pierce, Fenner &amp; 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) rollovers.\u00a0 The self-regulatory organization (SRO) [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":19832,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3941],"tags":[3093,4572,4368],"class_list":["post-19831","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-unit-investment-trust","tag-merrill-lynch","tag-uit-rollover","tag-unit-investment-trust"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Merrill Lynch to Pay $11.6M to Settle Unit Investment Trust Rollovers | SSEK Law Firm<\/title>\n<meta name=\"description\" content=\"FINRA is ordering Merrill Lynch to pay over $11.6m to settle unsuitable unit investment trust (UIT) rollover and excessive fee allegations.\" \/>\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\/merrill-lynch-unit-investment-trust-rollovers\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Merrill Lynch to Pay $11.6M to Settle Unit Investment Trust Rollovers | SSEK Law Firm\" \/>\n<meta name=\"twitter:description\" content=\"FINRA is ordering Merrill Lynch to pay over $11.6m to settle unsuitable unit investment trust (UIT) rollover and excessive fee allegations.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2021\/07\/bantersnaps-vUwJ8uu_C1M-unsplash-1.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; 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Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/merrill-lynch-unit-investment-trust-rollovers\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/merrill-lynch-unit-investment-trust-rollovers\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Merrill Lynch To Pay $11.6M To Settle FINRA Case Over Unsuitable Unit Investment Trust Rollovers","datePublished":"2021-07-06T14:48:11+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/merrill-lynch-unit-investment-trust-rollovers\/"},"wordCount":551,"image":{"@id":"https:\/\/www.investorlawyers.com\/blog\/merrill-lynch-unit-investment-trust-rollovers\/#primaryimage"},"thumbnailUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2021\/07\/bantersnaps-vUwJ8uu_C1M-unsplash-1.jpg","keywords":["Merrill Lynch","UIT rollover","unit investment trust"],"articleSection":["Unit Investment Trust"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/merrill-lynch-unit-investment-trust-rollovers\/","url":"https:\/\/www.investorlawyers.com\/blog\/merrill-lynch-unit-investment-trust-rollovers\/","name":"Merrill Lynch to Pay $11.6M to Settle Unit Investment Trust Rollovers | SSEK Law Firm","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/merrill-lynch-unit-investment-trust-rollovers\/#primaryimage"},"image":{"@id":"https:\/\/www.investorlawyers.com\/blog\/merrill-lynch-unit-investment-trust-rollovers\/#primaryimage"},"thumbnailUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2021\/07\/bantersnaps-vUwJ8uu_C1M-unsplash-1.jpg","datePublished":"2021-07-06T14:48:11+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"FINRA is ordering Merrill Lynch to pay over $11.6m to settle unsuitable unit investment trust (UIT) rollover and excessive fee allegations.","breadcrumb":{"@id":"https:\/\/www.investorlawyers.com\/blog\/merrill-lynch-unit-investment-trust-rollovers\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.investorlawyers.com\/blog\/merrill-lynch-unit-investment-trust-rollovers\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.investorlawyers.com\/blog\/merrill-lynch-unit-investment-trust-rollovers\/#primaryimage","url":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2021\/07\/bantersnaps-vUwJ8uu_C1M-unsplash-1.jpg","contentUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2021\/07\/bantersnaps-vUwJ8uu_C1M-unsplash-1.jpg","width":640,"height":360,"caption":"Bankoh broker Yoko Farias facing further Northstar Bermuda claims"},{"@type":"BreadcrumbList","@id":"https:\/\/www.investorlawyers.com\/blog\/merrill-lynch-unit-investment-trust-rollovers\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.investorlawyers.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Merrill Lynch To Pay $11.6M To Settle FINRA Case Over Unsuitable Unit Investment Trust Rollovers"}]},{"@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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