FINRA Orders Atlanta-based SunTrust Investment Services To Pay $1.44 Million For Recommending Unsuitable UIT, Closed-End Fund and Mutual Funds To Elderly Investors

Last month, FINRA, the organization that regulates the securities industry, ordered SunTrust Investment Services of Atlanta, Georgia to pay $1.44 million to resolve charges related to the unsuitable recommendations of unit investment trusts, closed-end funds and mutual fund investments sold to some of its elderly and disabled clients. Of that amount, $900,000 is a fine…