The Financial Industry Regulatory Authority (FINRA) sanctioned J.P. Turner & Company for rule violations involving municipal securities.
According to CNBC.com, in the first action, FINRA alleged that transactions involving municipal securities between Turner’s account and customers accounts were not conducted at a “fair and reasonable price.”
In addition, FINRA claims that the firm’s supervisory system fell short, and did not provide supervision necessary to achieve compliance with the laws and regulations concerning fair pricing of municipal securities
Turner was fined $140,000 and ordered to pay $76,743.68 plus interest in restitution to customers.
The foregoing information, which is publicly available, is being provided by The White Law Group.
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Tags: JP Turner fined, JP Turner investment losses, JP Turner municipal securities, JP Turner sanction, JP Turner violation, municipal securities informantion, municipal securities losses, municipal securities pricing Last modified: February 11, 2016