{"id":3634,"date":"2016-08-13T00:00:00","date_gmt":"2016-08-13T05:00:00","guid":{"rendered":"https:\/\/stockbrokerfraudblog.blawgcloud.com\/2016\/08\/ubs_to_pay_250k_for_not_waivin"},"modified":"2016-08-13T00:00:00","modified_gmt":"2016-08-13T05:00:00","slug":"ubs-to-pay-250k-for-not-waivin","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/ubs-to-pay-250k-for-not-waivin\/","title":{"rendered":"UBS to Pay $250K For Not Waiving Mutual Fund Fees"},"content":{"rendered":"

The Financial Industry Regulatory Authority said that a UBS Group AG (UBS) <\/a>unit will pay $250K to resolve charges accusing it of not waiving certain fees for mutual fund customers that were eligible for the reduction. FINRA said that the broker-dealer overcharged customers $277,636 to invest in mutual funds. The failure to wave these fees purportedly took place from 9\/09 to 6\/13. <\/p>\n

The self-regulatory organization cited alleged supervisory failures. According to the settlement notice, UBS depended largely on its registered representatives to identify when sales charge waivers were warranted and identifying them. These waivers were linked to the reinstatement rights that let investors get around having to pay front-end sales charges.<\/p>\n

Under these rights, individual investors are generally allowed to reinvest money made from selling class A mutual fund shares in the same fund family or the same fund without having to pay fees at the front end. They are given 90-120 days to reinvest for the waiver to be applicable.<\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Financial Industry Regulatory Authority said that a UBS Group AG (UBS) unit will pay $250K to resolve charges accusing it of not waiving certain fees for mutual fund customers that were eligible for the reduction. FINRA said that the broker-dealer overcharged customers $277,636 to invest in mutual funds. The failure to wave these fees […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3799,3755],"tags":[],"class_list":["post-3634","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-mutual-funds","category-ubs"],"yoast_head":"\nUBS to Pay $250K For Not Waiving Mutual Fund Fees — Investor Lawyers Blog — August 13, 2016<\/title>\n<meta name=\"description\" content=\"The Financial Industry Regulatory Authority said that a UBS Group AG (UBS) unit will pay $250K to resolve charges accusing it of not waiving certain fees — August 13, 2016\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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