Articles Tagged with Unsuitable Unit Investment Trust Attorney

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Richard Graham, a former registered representative with Huntington Investment Company of Lafayette, Indiana, submitted a letter of Acceptance, Waiver and Consent (AWC) in which he was suspended and assessed a deferred fine of $10,000 by the Financial Industry Regulatory Authority (FINRA) for Unit Investment Trust (UIT) recommendations which were unsuitable for his customers given their investment objectives.

According to FINRA, Richard Dale Graham, of Lebanon, Indiana, recommended that his customer, a 98-year old woman, invest in three UITs which made up approximately 42% of her net worth.  Given the woman’s moderately conservative investment goals and age, the recommendations were found by FINRA to be unsuitable, and the UITs lost $29,493 in value.  Continue reading →