According to a recent InvestmentNews article, the Financial Industry Regulatory Authority (FINRA) fined brokerage firm Horner Townsend & Kent $275,000 for failing to supervise its brokers sales of variable annuities. Specifically, FINRA claimed that the firm had not adequately supervised sales of L-share variable annuities, which have longer surrender periods and higher fees than B shares. Allegedly, these activities took place between April 2013 and June 2015. During that period, according to FINRA, 7,398 or 46.7% of the 15,815 variable annuity contracts sold to its customers were L-share contracts. If you suffered losses with Horner Townsend & Kent, you may be able to recover them by calling our securities law firm in Chicago, Illinois at 312-332-4200 today. The call is free with no obligation, and we take cases on a contingency fee basis, which means we only make money if you recover yours. We sue firms in the FINRA arbitration forum. The firm may be liable for losses.
The posting on this site are mere OPINIONS and NOT statements of fact in any way whatsoever. The information should not be relied upon and there have been no findings made against the firms or individuals referenced on this site. In addition, this Blog is made available for educational purposes only and incorporates information from the web as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney client relationship between you and Stoltmann Law Offices (161 N Clark Street 16th Floor Chicago, IL 60601). The Blog opinions should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.
PLEASE NOTE THIS IS ADVERTISING AND IT IS NOT A NEWSPAPER ARTICLE OR POST FROM AN INDEPENDENT OR NON-BIASED, NEWS SITE, NEWS SOURCE OR NEWSPAPER.