Inmates stab correctional officers at a Massachusetts prison
Leaders of Democratic protest of Israel-Hamas war won't endorse Harris but warn against Trump
Why the cost of water for poor Black Detroit voters may be key to Kamala Harris winning – or losing – Michigan
A volunteer network of interpreters wants to make refugees' languages more accessible. Will AI help?
Pager attack on Hezbollah was a sophisticated ‘booby-trap’ operation − it was also illegal
How Israel’s Netanyahu survives in his job
Invasive caterpillars can make aspen forests more toxic for native insects – a team of ecologists explains how
Collaboratively imagining the future can bring people closer together in the present
Weekly applications for US jobless benefits fall to the lowest level in 4 months
Florence Pugh says her body ‘went into a bit of trauma’ after shaving her head for movie role
MSG’s James Dolan and Harvey Weinstein accused of sexual assault in newly filed lawsuit
(PKG) SEAN "DIDDY" COMBS APPEALS BAIL DENIAL (930pET)
NEW YORK (Reuters) -Broker-dealer First Horizon Advisors, Inc has agreed to pay a civil penalty of $325,000 in connection with its recommendations for certain products, the U.S. Securities and Exchange Commission said in a statement on Wednesday.
The SEC found First Horizon failed to maintain and enforce policies and procedures reasonably designed to achieve compliance with Regulation Best Interest (Reg BI). First Horizon did not comply with the new rule in multiple ways, including by approving recommendations to customers without having all the accurate information they needed to review for some accounts, the SEC said in the statement.
First Horizon did not admit or deny the SEC's findings. The firm cooperated with the SEC's investigation and has taken steps to ensure full compliance going forward, a spokesperson for the firm said in an emailed statement.
To settle the SEC's charges, First Horizon agreed to a censure and a cease-and-desist order, in addition to the civil penalty.
(Reporting by Chris Prentice; Editing by David Gregorio)
