Violation Tracker Individual Record
The Financial Industry Regulatory Authoritys ordered Barclays Capital, Inc. to pay more than $10 million in restitution, including interest, to affected customers for mutual fund-related suitability violations. These suitability violations related to an array of mutual fund transactions including mutual fund switches. Additionally, the firm failed to provide applicable breakpoint discounts to certain customers. Barclays was also censured and fined $3.75 million.
FINRA is a securities industry self-regulatory body authorized by the federal government.