Jarred M. Lawson, of Jacksonville, Florida, submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was fined and suspended for allegedly making negligent misrepresentations with respect to the sale of Class A and C mutual funds.
FINRA alleged that while registered with Merrill Lynch, Pierce, Fenner & Smith (Merrill Lynch), Mr. Lawson made negligent misrepresentations or omissions regarding the sale of Class A and C mutual funds during phone calls with numerous customers. According to FINRA, Mr. Lawson failed to discuss the share classes and the fees associated with them. Further, Mr. Lawson allegedly misrepresented the fees associated with a managed account. Continue reading →