The US financial industry's self-regulatory authority, US , has ordered that LPL Financial ($ 8.7mn ), Holch ($ 8.7mn ), and Wells Fargo ($ 6.3mn ) to pay out a total of over $30mn to investors for having improperly charged them for mutual funds that were purchased for retirement accounts and charities. The brokerages neither admitted nor denied the charges in settling with Finra. The brokerages neither admitted nor denied the charges in settling over the case.
The US financial industry's self-regulatory authority, US , has ordered that LPL Financial ($ 8.7mn ), Holch ($ 8.7mn ), and Wells Fargo ($ 6.3mn ) to pay out a total of over $30mn to investors for having improperly charged them for mutual funds that were purchased for retirement accounts and charities. The brokerages neither admitted nor denied the charges in settling over the case.