Massachusetts slaps Janney Montgomery Scott with $286,000 fine
State regulators said the firm did little to stop a broker from short-term trading in mutual funds with front-loaded fees
Massachusetts securities regulators have fined Janney Montgomery Scott over $286,000 and ordered the firm to pay nearly $164,000 in restitution to investors over a broker’s frequent sale of mutual funds with higher front-loaded fees.
In a complaint filed last year, state regulators alleged Janney
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