Emerson Equity Fined and Ordered to Pay Investors Restitution
by Admin Istrator | January 8, 2022 4:39 pm
FINRA recently announced that Emerson Equity and its principal have agreed to a fine. Here are the details:
- From January 2015 through June 2020, the firm allegedly failed to supervise the short term trading of class A and B mutual funds.
- This practice is known as “mutual fund switching”[1] and resulted in customers paying more than $1.6 million in front end loads and/or sales charges.
- Emmerson Equity agreed to pay restitution of over $1.6 million. The firm also agreed to pay FINRA a fine of $60,000.
FINRA’s Order Requiring Emerson Equity to Pay Restitution
2020066078202-Emerson-Equity-LLC-CRD-130032-Dominic-Julio-Baldini-CRD-3082081-AWC-sl[2]Download[3]
Did You Lose Money Investing with Emerson Equity?
Endnotes:
- “mutual fund switching”: https://mdf-law.com/mutual-funds-fees-share-classes-and-abusive-practices/
- 2020066078202-Emerson-Equity-LLC-CRD-130032-Dominic-Julio-Baldini-CRD-3082081-AWC-sl: https://mdf-law.com/wp-content/uploads/2022/01/2020066078202-Emerson-Equity-LLC-CRD-130032-Dominic-Julio-Baldini-CRD-3082081-AWC-sl.pdf
- Download: https://mdf-law.com/wp-content/uploads/2022/01/2020066078202-Emerson-Equity-LLC-CRD-130032-Dominic-Julio-Baldini-CRD-3082081-AWC-sl.pdf
Source URL: https://mdf-law.com/emerson-equity-restitution/