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Violation Tracker Individual Record

Company: SunTrust Investment Services, Inc.
Current Parent Company: Truist Financial
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
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Penalty: $1,440,000
Year: 2010
Date: July 22, 2010
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: The Financial Industry Regulatory Authority ordered SunTrust Investment Services, Inc. of Atlanta, GA, to pay $1.44 million to resolve charges related to unsuitable unit investment trust (UIT), closed-end fund (CEF) and mutual fund transactions. Of that amount, $900,000 was a fine that included nearly $224,000 in disgorgement of commissions earned on the unsuitable trades. The remaining $540,000 represented restitution to 17 customers who incurred losses.
Level of Government: federal
Action Type: agency action
Agency: Financial Industry Regulatory Authority
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: North Carolina
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
Archived Source: (click here)
Notes: FINRA is a securities industry self-regulatory body authorized by the federal government.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.