SunTrust Banks (STI.WS.B) stock prices updated...
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SunTrust Banks latest news:
SEC fines SunTrust $1.1 million for steering customers to high-fee mutual funds
The Securities and Exchange Commission settled charges against the investment services subsidiary of SunTrust Banks [s:sti] on Thursday for charging clients more than $1.1 million in excessive fees for more expensive shares mutual funds when cheaper shares of the same funds were available. SunTrust breached its fiduciary duty to act in clients' best interests by recommending the costlier mutual fund share classes that charge 12b-1 fees, a type of marketing and distribution fee, without telling investors that they were eligible for less costly shares. SunTrust Investment Services agreed, without admitting or denying the findings, to pay a penalty of more than $1.1 million to settle the charges. SunTrust also began refunding the overcharged fees plus interest to more than 4,500 affected clients as a result of the SEC investigation. The firm also agreed to be censured.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
SunTrust to pay more than $1.1 mln to settle U.S. charges over investment fees
SunTrust Banks Inc(STI) has agreed to pay more than $1.1 million to settle U.S. charges that its investment subsidiary had improperly collected avoidable fees from clients, the U.S. Securities and Exchange Commission said on Thursday.
Goldman Sachs gets approval for Saudi equities trading license
DUBAI/RIYADH (Reuters) - Goldman Sachs received approval on Sunday to trade equities in Saudi Arabia, joining the growing band of western investment banks and fund managers expanding in the kingdom.
UPDATE 1-Goldman Sachs gets approval for Saudi equities trading licence
DUBAI/RIYADH, Aug 20 (Reuters) - Goldman Sachs
received approval on Sunday to trade equities in Saudi Arabia,
joining the growing band of western investment banks and fund
managers expanding in the kingdom.
U.S. freezes assets of Venezuelan President Maduro
The Treasury Department announced Monday it has frozen the assets of and sanctioned Venezuela President Nicolas Maduro for undermining democracy in going ahead with elections on Sunday for a new legislative assembly. "Yesterday's illegitimate elections confirm that Maduro is a dictator who disregards the will of the Venezuelan people," said Treasury Secretary Steven Mnuchin in a statement. Under the sanctions, U.S. banks are prohibited from dealing with Maduro.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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