Violation Tracker Individual Record
NASD censured and fined H&R Block Financial Advisors, Inc., $500,000 for enabling a hedge fund customer in its Orlando, FL branch office to engage in deceptive practices to market time mutual funds. NASD also ordered H&R Block to pay $325,000 to reimburse the affected funds.
FINRA is a securities industry self-regulatory body authorized by the federal government. This case was handled by its predecessor, the National Association of Securities Dealers (NASD).