According to a recent Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), Huntleigh Securities Corporation violated securities laws. Allegedly, between May 1st, 2010 and April 30th, 2015, Huntleigh failed to apply sales-charge discounts to certain customers’ eligible purchases of unit investment trusts (UITs) in violation of FINRA and securities rules. The firm also failed to maintain and establish a supervisory system and written supervisory procedures that were reasonably designed to monitor for and apply sales-charge discounts to eligible UIT purchases. The firm may be liable for investment losses. It was censured and required to pay a total of $98,252.33 in restitution to customers.
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