mickeyd
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Seems as though that FINRA has caught these guys with their hands in the postage bin. Pretty sleazy activity how an investment firm can try to squeeze a few more bucks out of the ignorant investor. So much for the idea of fiduciary.
Of course, "guilty" investment firms do not admit to guilt.
FINRA Fines 5 Broker-Dealers
Of course, "guilty" investment firms do not admit to guilt.
According to FINRA, the handling fees were meant to provide a source of additional transaction-based revenue for the firms and were far higher than the cost of the handling-related services provided by those firms. Some of the firms were also charged with additional violation
"In addition, they will identify all transaction-based remuneration as commissions or mark-ups (mark-downs) rather than as postage, handling or any other miscellaneous fee.
FINRA Fines 5 Broker-Dealers