The US financial industry 's self - regulatory regulator , Finra , has ordered that Wells Fargo ( $ 15mn ) , Raymond Chase ( $ 8.7mn ) , and LPL Financial ( $ 6.3mn ) to pay out a total of over $ 30mn to investors for having improperly paid them for mutual funds that were purchased for retirement plans and charities . “Importantly, there are no fines associated with this agreement as a result of our ongoing efforts to ensure a proper resolution of this issue for investors.” The companies neither admitted nor denied the charges in settling over the case .
The US financial industry 's self - regulatory regulator , Finra , has ordered that Wells Fargo ( $ 15mn ) , Raymond Chase ( $ 8.7mn ) , and LPL Financial ( $ 6.3mn ) to pay out a total of over $ 30mn to investors for having improperly paid them for mutual funds that were purchased for retirement plans and charities . The companies neither admitted nor denied the charges in settling over the case .