Tag: UIT

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Merrill Lynch Penalized $11.6 Million For Improper UIT Rollovers

Merrill Lynch Penalized $11.6 Million For Improper UIT Rollovers:  The transactions forced clients to pay millions of dollars in needless fees, according to seclaw.com/glossary/finra/” data-gt-translate-attributes='[{“attribute”:”data-cmtooltip”, “format”:”html”}]’>FINRA.   A UIT is an investment company that offers investors shares, or “units,” in a fixed portfolio of securities in a one-time public offering that terminates […]