Skip to Primary Navigation

Skip to main content

FINRA fines First Trust Portfolios for gifts and entertainment violations

Image of a line of gift bags.
Photo: Stefanie Keenan/Getty Images for MACRENE Actives

Julie DiMauro

2 min read
 Click to share on Facebook (Opens in new window/tab) Click to share on Twitter (Opens in new window/tab) Click to share on LinkedIn (Opens in new window/tab) Click to share on WhatsApp (Opens in new window/tab)

FINRA said First Trust provided gifts, meals and entertainment to representatives of retail broker-dealers that significantly exceeded limits for non-cash compensation.

FINRA has fined First Trust Portfolios LP $10m for providing excessive non-cash compensation – specifically, gifts, meals, and entertainment (GME) – in connection with the distribution of First Trust investment company securities and related misconduct.

FINRA said the GME was extended to representatives of retail broker-dealers (so, the reps of

, , , , , ,

Subscribe to continue reading

Subscribe to our Premium plan for full access to every article like this one, plus exclusive interviews, podcasts, and more.

Subscribe

Already have Premium? Sign in