{"id":4780,"date":"2017-09-14T17:03:53","date_gmt":"2017-09-14T22:03:53","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4565"},"modified":"2017-09-14T17:03:53","modified_gmt":"2017-09-14T22:03:53","slug":"securities-cases-suntrust-settles-improper-mutual-fund-fee-charges-1-1m-ex-morgan-stanley-barred-client-later-married-two-rias-also-barred-cherry-picking","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/securities-cases-suntrust-settles-improper-mutual-fund-fee-charges-1-1m-ex-morgan-stanley-barred-client-later-married-two-rias-also-barred-cherry-picking\/","title":{"rendered":"Securities Cases: SunTrust Settles Improper Mutual Fund Fee Charges for $1.1M, Ex-Morgan Stanley Barred Over Client He Later Married, and Two RIAs Are Barred for Cherry Picking"},"content":{"rendered":"<p>\t\t\t\t<strong>SEC Charges SunTrust With Collecting Over $1.1M in Excess Mutual Fund Fees<\/strong><\/p>\n<p>The US Securities and Exchange Commission has filed charges accusing SunTrust Investment Services of collecting over $1.1M in unwarranted fees from mutual fund clients. The SunTrust Banks subsidiary will pay an over $1.1M penalty to resolve the regulator\u2019s civil charges. <\/p>\n<p>According to the regulator\u2019s order, SunTrust Investment Services improperly recommended costlier mutual fund share classes to clients when less expensive shares of these funds were available. The SEC says this was a breach of the investment services firm\u2019s fiduciary duty to take actions in the client\u2019s best interests. <\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/securities-cases-suntrust-settles-improper-mutual-fund-fee-charges-1-1m-ex-morgan-stanley-barred-client-later-married-two-rias-also-barred-cherry-picking\/\"  title=\"Continue Reading Securities Cases: SunTrust Settles Improper Mutual Fund Fee Charges for $1.1M, Ex-Morgan Stanley Barred Over Client He Later Married, and Two RIAs Are Barred for Cherry Picking\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>SEC Charges SunTrust With Collecting Over $1.1M in Excess Mutual Fund Fees The US Securities and Exchange Commission has filed charges accusing SunTrust Investment Services of collecting over $1.1M in unwarranted fees from mutual fund clients. The SunTrust Banks subsidiary will pay an over $1.1M penalty to resolve the regulator\u2019s civil charges. According to the [&hellip;]<\/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":[3773,3739,3781,3738,3799,3801,3760,3741],"tags":[2666,2891],"class_list":["post-4780","post","type-post","status-publish","format-standard","hentry","category-broker-fraud","category-finra","category-investment-advisers","category-investor-fraud","category-mutual-funds","category-sec","category-sec-enforcement","category-securities-fraud","tag-cherry-picking","tag-suntrust-investment-services"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Securities Cases: SunTrust Settles Improper Mutual Fund Fee Charges for $1.1M, Ex-Morgan Stanley Barred Over Client He Later Married, and Two RIAs Are Barred for Cherry Picking &#8212; Investor Lawyers Blog &#8212; September 14, 2017<\/title>\n<meta name=\"description\" content=\"SEC Charges SunTrust With Collecting Over $1.1M in Excess Mutual Fund Fees The US Securities and Exchange Commission has filed charges accusing SunTrust &#8212; September 14, 2017\" \/>\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\/securities-cases-suntrust-settles-improper-mutual-fund-fee-charges-1-1m-ex-morgan-stanley-barred-client-later-married-two-rias-also-barred-cherry-picking\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Securities Cases: SunTrust Settles Improper Mutual Fund Fee Charges for $1.1M, Ex-Morgan Stanley Barred Over Client He Later Married, and Two RIAs Are Barred for Cherry Picking &#8212; Investor Lawyers Blog &#8212; September 14, 2017\" \/>\n<meta name=\"twitter:description\" content=\"SEC Charges SunTrust With Collecting Over $1.1M in Excess Mutual Fund Fees The US Securities and Exchange Commission has filed charges accusing SunTrust &#8212; September 14, 2017\" \/>\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=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Securities Cases: SunTrust Settles Improper Mutual Fund Fee Charges for $1.1M, Ex-Morgan Stanley Barred Over Client He Later Married, and Two RIAs Are Barred for Cherry Picking &#8212; Investor Lawyers Blog &#8212; September 14, 2017","description":"SEC Charges SunTrust With Collecting Over $1.1M in Excess Mutual Fund Fees The US Securities and Exchange Commission has filed charges accusing SunTrust &#8212; September 14, 2017","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\/securities-cases-suntrust-settles-improper-mutual-fund-fee-charges-1-1m-ex-morgan-stanley-barred-client-later-married-two-rias-also-barred-cherry-picking\/","twitter_card":"summary_large_image","twitter_title":"Securities Cases: SunTrust Settles Improper Mutual Fund Fee Charges for $1.1M, Ex-Morgan Stanley Barred Over Client He Later Married, and Two RIAs Are Barred for Cherry Picking &#8212; Investor Lawyers Blog &#8212; September 14, 2017","twitter_description":"SEC Charges SunTrust With Collecting Over $1.1M in Excess Mutual Fund Fees The US Securities and Exchange Commission has filed charges accusing SunTrust &#8212; September 14, 2017","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/securities-cases-suntrust-settles-improper-mutual-fund-fee-charges-1-1m-ex-morgan-stanley-barred-client-later-married-two-rias-also-barred-cherry-picking\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/securities-cases-suntrust-settles-improper-mutual-fund-fee-charges-1-1m-ex-morgan-stanley-barred-client-later-married-two-rias-also-barred-cherry-picking\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Securities Cases: SunTrust Settles Improper Mutual Fund Fee Charges for $1.1M, Ex-Morgan Stanley Barred Over Client He Later Married, and Two RIAs Are Barred for Cherry Picking","datePublished":"2017-09-14T22:03:53+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/securities-cases-suntrust-settles-improper-mutual-fund-fee-charges-1-1m-ex-morgan-stanley-barred-client-later-married-two-rias-also-barred-cherry-picking\/"},"wordCount":596,"keywords":["cherry picking","SunTrust Investment Services"],"articleSection":["Broker Fraud","FINRA","Investment Advisers","Investor Fraud","Mutual Funds","SEC","SEC Enforcement","Securities Fraud"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/securities-cases-suntrust-settles-improper-mutual-fund-fee-charges-1-1m-ex-morgan-stanley-barred-client-later-married-two-rias-also-barred-cherry-picking\/","url":"https:\/\/www.investorlawyers.com\/blog\/securities-cases-suntrust-settles-improper-mutual-fund-fee-charges-1-1m-ex-morgan-stanley-barred-client-later-married-two-rias-also-barred-cherry-picking\/","name":"Securities Cases: SunTrust Settles Improper Mutual Fund Fee Charges for $1.1M, Ex-Morgan Stanley Barred Over Client He Later Married, and Two RIAs Are Barred for Cherry Picking &#8212; 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