trending Market Intelligence /marketintelligence/en/news-insights/trending/3jYSc6fgLnSketeAklvuTA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Oppenheimer & Co. ordered to pay $3.8M over excessive sales fees

Street Talk - Ep. 64: Coronavirus jumpstarts digital adoption

Street Talk Podcast

Street Talk - Ep. 63: Deal talks continue amid bank M&A freeze, setting up for strong Q4

Street Talk Podcast

Street Talk - Ep. 62: 'Brutal' outlook for oil demand offers banks in oil patch no relief

Amid Q1 APAC Fintech Funding Slump, Payment Companies Drove Investments


Oppenheimer & Co. ordered to pay $3.8M over excessive sales fees

The Financial Industry Regulatory Authority has ordered Oppenheimer & Co. Inc. to pay over $3.8 million to customers who incurred potentially excessive sales charges due to early rollovers of unit investment trusts.

FINRA also fined the company $800,000 for failing to reasonably supervise early unit investment trust, or UIT, rollovers.

UITs are investment outfits that offer investors shares, or units, in a fixed portfolio of securities in a one-time public offering that terminates on a certain date, usually after 15 or 24 months. In a news release, FINRA said a representative who recommends a customer sell his or her UIT position before the maturity date and then rolls over those funds into a new UIT causes the customer to incur higher sale charges over time, which raises concerns about whether the investment is suitable for the client.

The regulator said Oppenheimer & Co. executed over $6.4 billion in UIT transactions from January 2011 through December 2015, of which $753.9 million were early rollovers. The firm's customers may have incurred more than $3.8 million in sales fees they would not have paid if they had held the UITs to maturity, FINRA said.

Oppenheimer neither admitted to nor denied the charges, but consented to the entry of FINRA's findings.