MML Investor Services Ordered to Pay Investors Restitution
by Admin Istrator | January 13, 2022 4:26 pm
FINRA recently announced that MML Investor Services[1] was ordered to pay restitution to investors to resolve an administrative complaint. Here are the details:
- FINRA found that from January 2013 until March 2017, MML allowed its advisors to steer investors into higher fee funds. The fine concerns customers who had 529 accounts with MML.
- FINRA previously fined MML $1.8 million for excessive fees charged to charitable organizations and retirement plans.
- MML was ordered to pay restitution of $617,726.28 to the investors that were impacted.
Fine and Schedule of MML Accounts
2019062530501-MML-Investors-Services-LLC-CRD-10409-AWC-jlg[2]Download[3]
Did You Lose Money Investing with MML?
Endnotes:
- MML Investor Services: https://mdf-law.com/practice-groups/financial-advisor-negligence/mml-investors-services-customer-complaint-information/
- 2019062530501-MML-Investors-Services-LLC-CRD-10409-AWC-jlg: https://mdf-law.com/wp-content/uploads/2022/01/2019062530501-MML-Investors-Services-LLC-CRD-10409-AWC-jlg.pdf
- Download: https://mdf-law.com/wp-content/uploads/2022/01/2019062530501-MML-Investors-Services-LLC-CRD-10409-AWC-jlg.pdf
Source URL: https://mdf-law.com/mml-restitution/