FYI: Philadelphia-based broker-dealer Janney Montgomery Scott LLC has been charged with allowing a broker in one of its Massachusetts branches to engage in mutual fund sales violations that cost investors almost $200,000 in unnecessary commissions over six years.
In an administrative complaint filed Tuesday, Secretary of the Commonwealth William F. Galvin charged Janney Montgomery Scott with failing to supervise registered representative Stephen Querzoli’s short-term trading of class A mutual fund shares between 2012 and 2017.
Regards,
Ted
https://www.fa-mag.com/news/janney-montgomery-rep-charged-with-improper-fund-sales-44729.html?print
