Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:American Funds Loses FINRA Appeal Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, May 1, 2008

American Funds Loses FINRA Appeal

News summary by MFWire's editors

The $5 million fine against American Funds for improperly steering brokerage commissions to top producing brokerages will stand, the FINRA appeals body has decided. In today's WSJ FundTrack, Kevin Kingsbury reports that the appeals body took an even harder line than the FINRA panel that levied the original fine, saying the actions by American were not merely negligent but intentional. American said it was weighing whether or not to appeal the ruling to the SEC. American had opted to take the road less traveled by fund companies when dealing with regulators by choosing to fight charges at a hearing, rather than settling without admitting or denying fault. 

Edited by: Erin Kello


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use