J.P. Turner Ordered to Pay over $700,000 in Restitution

Dec 30, 2013

J.P. Turner & Company, LLC. was ordered by the Financial Industry Regulatory Authority (FINRA) to pay eighty- four of their customers a total of $707,559 in restitution after allegedly selling them unsuitable leveraged exchange trade funds (ETFs). FINRA alleged that J.P. Turner’s failure to properly supervise the transactions caused their customers to lose money. FINRA also found that J.P. Turner neglected to provide satisfactory training to their employees regarding the ETFs.

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