{"id":4562,"date":"2008-02-07T22:19:30","date_gmt":"2008-02-07T22:19:30","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2008\/02\/banc_one_securities_will_settl"},"modified":"2022-03-25T14:56:30","modified_gmt":"2022-03-25T19:56:30","slug":"banc-one-securities-will-settl","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/banc-one-securities-will-settl\/","title":{"rendered":"Banc One Securities Will Settle FINRA \u201cUnsuitable” Deferred Variable Annuities Charges for $225,000"},"content":{"rendered":"

Banc One Securities Corp. (BOSC) says it will pay $225,000 to settle Financial Industry Regulatory Authority (FINRA) charges that it made “unsuitable” sales of deferred variable annuities to 23 clients-21 of them elderly customers over 70 years of age.<\/p>\n

FINRA says that BOSC representatives told clients that they should exchange their fixed annuities for variable annuities, which all 23 clients did. The SRO says that the clients then placed 100% of their assets into the variable annuity’s fixed-rate fixture. The payment was 3% maximum.<\/p>\n

FINRA says that considering each client’s age, financial situation, investment goals, and income needs, the recommendations were inappropriate. FINRA says that BOSC should have properly supervised these transactions and that oversight procedures and policies failed to require that supervisors look at and assess certain information.<\/p>\n

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

Banc One Securities Corp. (BOSC) says it will pay $225,000 to settle Financial Industry Regulatory Authority (FINRA) charges that it made “unsuitable” sales of deferred variable annuities to 23 clients-21 of them elderly customers over 70 years of age. FINRA says that BOSC representatives told clients that they should exchange their fixed annuities for variable […]<\/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":[3863],"tags":[],"class_list":["post-4562","post","type-post","status-publish","format-standard","hentry","category-banc-one-securities"],"yoast_head":"\nBanc One Securities Will Settle FINRA \u201cUnsuitable" Deferred Variable Annuities Charges for $225,000 — Investor Lawyers Blog — February 7, 2008<\/title>\n<meta name=\"description\" content=\"Banc One Securities Corp. (BOSC) says it will pay $225,000 to settle Financial Industry Regulatory Authority (FINRA) charges that it made "unsuitable" — February 7, 2008\" \/>\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\/banc-one-securities-will-settl\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Banc One Securities Will Settle FINRA \u201cUnsuitable" Deferred Variable Annuities Charges for $225,000 — Investor Lawyers Blog — February 7, 2008\" \/>\n<meta name=\"twitter:description\" content=\"Banc One Securities Corp. (BOSC) says it will pay $225,000 to settle Financial Industry Regulatory Authority (FINRA) charges that it made "unsuitable" — February 7, 2008\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards & 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":"Banc One Securities Will Settle FINRA \u201cUnsuitable\" Deferred Variable Annuities Charges for $225,000 — Investor Lawyers Blog — February 7, 2008","description":"Banc One Securities Corp. (BOSC) says it will pay $225,000 to settle Financial Industry Regulatory Authority (FINRA) charges that it made \"unsuitable\" — February 7, 2008","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\/banc-one-securities-will-settl\/","twitter_card":"summary_large_image","twitter_title":"Banc One Securities Will Settle FINRA \u201cUnsuitable\" Deferred Variable Annuities Charges for $225,000 — Investor Lawyers Blog — February 7, 2008","twitter_description":"Banc One Securities Corp. (BOSC) says it will pay $225,000 to settle Financial Industry Regulatory Authority (FINRA) charges that it made \"unsuitable\" — February 7, 2008","twitter_misc":{"Written by":"Shepherd Smith Edwards & Kantas, LLP","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/banc-one-securities-will-settl\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/banc-one-securities-will-settl\/"},"author":{"name":"Shepherd Smith Edwards & Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Banc One Securities Will Settle FINRA \u201cUnsuitable” Deferred Variable Annuities Charges for $225,000","datePublished":"2008-02-07T22:19:30+00:00","dateModified":"2022-03-25T19:56:30+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/banc-one-securities-will-settl\/"},"wordCount":294,"articleSection":["Banc One Securities"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/banc-one-securities-will-settl\/","url":"https:\/\/www.investorlawyers.com\/blog\/banc-one-securities-will-settl\/","name":"Banc One Securities Will Settle FINRA \u201cUnsuitable\" Deferred Variable Annuities Charges for $225,000 — Investor Lawyers Blog — February 7, 2008","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2008-02-07T22:19:30+00:00","dateModified":"2022-03-25T19:56:30+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"Banc One Securities Corp. (BOSC) says it will pay $225,000 to settle Financial Industry Regulatory Authority (FINRA) charges that it made \"unsuitable\" — February 7, 2008","breadcrumb":{"@id":"https:\/\/www.investorlawyers.com\/blog\/banc-one-securities-will-settl\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.investorlawyers.com\/blog\/banc-one-securities-will-settl\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.investorlawyers.com\/blog\/banc-one-securities-will-settl\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.investorlawyers.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Banc One Securities Will Settle FINRA \u201cUnsuitable” Deferred Variable Annuities Charges for $225,000"}]},{"@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 & Kantas, LLP","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.investorlawyers.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431","name":"Shepherd Smith Edwards & Kantas, LLP","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","caption":"Shepherd Smith Edwards & Kantas, LLP"},"sameAs":["https:\/\/www.investorlawyers.com\/"]}]}},"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pedX9K-1bA","_links":{"self":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/4562","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/comments?post=4562"}],"version-history":[{"count":4,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/4562\/revisions"}],"predecessor-version":[{"id":25568,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/4562\/revisions\/25568"}],"wp:attachment":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/media?parent=4562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/categories?post=4562"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/tags?post=4562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}