Stifel, Nicolaus & Co., Inc., an investment bank, has been fined $3.6 million by FINRA, a regulatory authority for the financial services industry, for allegedly having an inadequate supervisory system in place to detect potentially unsuitable unit investment trust (UIT) rollovers, and also for failing to provide customers with accurate information so they can make… Read More >>
Raymond James Settles Improper Charges Case for $15M
Raymond James has settled SEC charges that three of its units improperly charged advisory fees on inactive retail client accounts and charged excess commissions for brokerage-customer investments in certain unit investment trusts (UITs). The firm, a St. Petersburg, Florida-based investment bank and financial services company founded in 1961, has agreed to be censured and will… Read More >>
