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Merrill Lynch hit with $11.65 million penalty by Finra
In 2016, Finra launched a targeted examination of UIT sales, discounts and rollovers across the brokerage industry, and a number of firms have incurred penalties and fines in its aftermath.
Finra orders Stifel to pay $3.6 million for violations in sales of unit investment trusts
About $1.9 million goes to harmed customers, an emphasis for the new Finra enforcement director
Finra slaps Cambridge with $150,000 fine over UIT sales
Also censures firm, again, for not paying discounts to eligible customers
