Following an announcement from The Financial Industry Regulatory Authority (FINRA) in January that it ordered Charles Schwab & Company, Inc., to pay $18 million to repay investors in its YieldPlus Fund after investment losses, a FINRA Arbitrator awarded damages, attorney’s fees and other costs to a couple invested in the fund.
The $18 million Schwab was ordered to pay in January consisted of the $17.5 million in fees that Schwab collected for sales of the fund, plus a fine of $500,000, both of which will be distributed as restitution to customers, FINRA reported in a press release in January.
Register or login for access to this item and much more
All On Wall Street content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access