Wednesday, January 30, 2008
FINRA Fines Banc One Securities On Variable Annuities
The Financial Industry Regulatory Authority fined JPMorgan Chase & Co.'s (JPM) Banc One Securities Corp. $225,000 for making what FINRA said were unsuitable sales of deferred variable annuities to 23 customers and for having inadequate systems and procedures governing annuity exchanges... The regulatory group said 21 of the 23 customers, who placed all their assets into annuities that paid a maximum of 3%, were over 70 years old...
CNN Money: FINRA Fines Banc One Securities On Variable Annuities
CNN Money: FINRA Fines Banc One Securities On Variable Annuities
Permalink posted by markw @ 6:25 AM 
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