Hal M. Bundrick
NEW YORK (MainStreet)--The warning was recent and punishment came quickly. FINRA slammed two firms today with a total of $2.15 million in fines for losses incurred from "unsuitable sales of floating rate bank loan funds."
FINRA Chairman and CEO Richard G. Ketchum tipped his hand that floating rate funds were on his radar in a speech at the self-regulatory authority's recent annual conference.
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