BB&T agrees to return funds to investors to settle SEC charges

2020-02-24 17:13:36    阅读:492063

WASHINGTON (Reuters) - The 2019年113期正版彩图挂牌 top U.S. securities regulator said

on Tuesday that BB&T Securities has agreed to return more than $

5 million to retail investors and pay a $500,000 penalty to settle charges that a firm it acquired misled

clients about the cost of advisory services. BB&T agreed to pay the amounts without admitting or denying the findings, th

e Securities and Exchange Commission said. The firm, Valley Forge Asset Management, allegedly

lied to customers and provided inadequate disclosures about its brokerage services and prices to con

vince customers to c

hoose it over less expensive options that were available externally,

according to the SEC.