FINRA Sanctions Barclays Capital $13.75M for Unsuitable Mutual Fund Transactions, Related Supervisory Failures

The Financial Industry Regulatory Authority (FINRA) announced today that it has ordered Barclays Capital, Inc. to pay more than $10 million in restitution, including interest, to affected customers for mutual fund-related suitability violations. These suitability violations relate to an array of mutual fund transactions including mutual fund switches. Additionally, the firm failed to provide applicable breakpoint discounts to certain customers. Barclays was also censured and fined $3.75 million.

via FINRA Sanctions Barclays Capital $13.75M for Unsuitable Mutual Fund Transactions, Related Supervisory Failures.

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