Violation Tracker Individual Record
The Financial Industry Regulatory Authority ordered SunTrust Investment Services, Inc. of Atlanta, GA, to pay $1.44 million to resolve charges related to unsuitable unit investment trust (UIT), closed-end fund (CEF) and mutual fund transactions. Of that amount, $900,000 was a fine that included nearly $224,000 in disgorgement of commissions earned on the unsuitable trades. The remaining $540,000 represented restitution to 17 customers who incurred losses.
FINRA is a securities industry self-regulatory body authorized by the federal government.