objectives, excessive trading
, by itself, can violate NASD suitability
FINRA also found that despite the fact that Westpark had placed all of the brokers in question on "heightened supervision," Morgan and Stern failed to supervise several brokers who committed serious sales practice violations - including unauthorized, unsuitable and excessive trading
involving at least 19 customer accounts.
On May 28, 2003, Seligman blocked those six new accounts for 90 days, again due to excessive trading
But NASD found that despite the fund prospectus language and IFD's own internal procedures, IFD and Sessions permitted one client to engage in excessive trading
until 2001 and the other two clients to engage in excessive trading
until September 2003.
The average number of trades made by employees in their 401(k) plans has decreased over the past few years, suggesting that transfer restrictions implemented by companies have effectively lowered excessive trading
Although there is no certainty as to what terms and conditions would appear in a final order, DeAM expects the settlement documents to include allegations related to one legacy DeAM arrangement that permitted certain investors to engage in excessive trading
in the Scudder Funds, as well as three legacy Scudder and six legacy Kemper arrangements.
HONOLULU -- Bank of Hawaii Corporation (NYSE:BOH) (the "company") announced today that the staff of the Securities and Exchange Commission has terminated its investigation related to alleged market timing and/or excessive trading
in the Pacific Capital Funds, and has decided not to recommend enforcement against the company, the Asset Management Group of Bank of Hawaii, or any of the present or former officers who had received so-called "Wells notices.
WASHINGTON, March 16 /PRNewswire/ -- NASD has fined Jefferson Pilot Variable Corporation, a Concord, NH broker-dealer, $325,000 for failing to have an adequate supervisory system in place to prevent market timing and excessive trading
in the sub-accounts of its Ensemble series of variable universal life insurance policies (VULs).
The proposed actions all arise out of alleged market timing and/or excessive trading
in the Funds in 2002 and 2003 by an individual whose employment subsequently was terminated by the Bank.
Sentinel Financial Services Company (SFSC), distributor of Sentinel Funds, has entered into a settlement with the NASD that resolves issues regarding inadequacies in its e-mail retention capabilities, supervisory procedures as they relate to the excessive trading
policy of the fund group and alleged short-term trading losses.
these shortcomings, the overall incidence of excessive trading