FINRA Slaps Fines on Bankers for Leverage/Inverse ETFs
Tweet
Share
E-mail
FINRA today announced that it was fining four banks $9.1 million, claiming they failed to provide a reasonable basis for recommending certain leverage/inverse ETFs.
According to FINRA, investors have had difficulties because of the daily reset, leverage and compounding of these ETFs, which can be much different than a standard ETF and confusing to investors.
The banks that were sanctioned include Citigroup Global Markets, Morgan Stanley & Co., UBS Financial Services, and Wells Fargo Advisors.
According to FINRA, investors have had difficulties because of the daily reset, leverage and compounding of these ETFs, which can be much different than a standard ETF and confusing to investors.
The banks that were sanctioned include Citigroup Global Markets, Morgan Stanley & Co., UBS Financial Services, and Wells Fargo Advisors.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Crude Inventory Rose 2 Million Barrels Last Week - EIA
- Utz Brands (UTZ) PT Raised to $14.25 at UBS as Company to Be Acquired by Intersnack Group
- Charles Schwab Corp. (SCHW) PT Raised to $128 at UBS Following Beat-and-Raise Quarter
Create E-mail Alert Related Categories
ETFsRelated Entities
UBS, Citi, Morgan Stanley, Wells FargoSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
