{"id":4577,"date":"2008-03-05T16:28:01","date_gmt":"2008-03-05T16:28:01","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2008\/03\/oppenheimer_co_agrees_to_settl"},"modified":"2021-09-20T15:40:54","modified_gmt":"2021-09-20T20:40:54","slug":"oppenheimer-co-agrees-to-settl","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/oppenheimer-co-agrees-to-settl\/","title":{"rendered":"Oppenheimer & Co. Agrees to Settle FINRA Market Timing Charges for $4.5 Million"},"content":{"rendered":"

\t\t\t\tOppenheimer & Co. has settled Financial Industry Regulatory Association charges regarding the market timing of mutual funds. The company has agreed to pay $4.25 million as restitution to five dozen mutual fund companies, as well as a $250,000 fine. <\/p>\n

FINRA says that Oppenheimer failed to stop five traders’ engagement in improper, short-term mutual fund trading. The self-regulatory organization noted Oppenheimer’s failure to set up, manage, and enforce systems of supervision to detect and prevent market timing activities. <\/p>\n

As a result, FINRA says that Oppenheimer disregarded hundreds of warnings and requests from mutual funds and life insurance companies that they stop making the improper trades. Some 65 mutual funds even warned Oppenheimer that short-term trades were not in the best interests of long-term shareholders.<\/p>\n

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

Oppenheimer & Co. has settled Financial Industry Regulatory Association charges regarding the market timing of mutual funds. The company has agreed to pay $4.25 million as restitution to five dozen mutual fund companies, as well as a $250,000 fine. FINRA says that Oppenheimer failed to stop five traders’ engagement in improper, short-term mutual fund trading. […]<\/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":[3786],"tags":[],"class_list":["post-4577","post","type-post","status-publish","format-standard","hentry","category-oppenheimer"],"yoast_head":"\nOppenheimer & Co. 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The company has agreed to — March 5, 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":"Oppenheimer & Co. Agrees to Settle FINRA Market Timing Charges for $4.5 Million — Investor Lawyers Blog — March 5, 2008","description":"Oppenheimer & Co. has settled Financial Industry Regulatory Association charges regarding the market timing of mutual funds. 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