WASHINGTON — In an article posted on FINRA's website it was announced that the Financial Industry Regulatory Authority (FINRA) has fined Santander Securities of Puerto Rico $2 million for deficiencies in its structured product business, including unsuitable sales of reverse convertible securities to retail customers, inadequate supervision of sales of structured products, inadequate supervision of accounts […]

In an article from InvestmentNews.com, Mark Schoeff Jr., writes that broker-dealers have been engaging in sales practices for structured securities products that hurt retail investors, according to a Securities and Exchange Commission (SEC) report released in July. The article goes on to say that in an examinations of 11 broker-dealers, the SEC found that the firms […]