FINRA Fines MetLife Securities, Affiliates $1.2M

Law360, New York (November 18, 2009, 7:07 PM EST) -- MetLife Securities Inc. and three of its affiliates have been fined a total of $1.2 million by the Financial Industry Regulatory Authority for failing to properly oversee their brokers' e-mail correspondence with the public and outside business activities.

FINRA announced Wednesday that the companies' failure to adequately oversee brokers' e-mail, as well as their outside business activities and private securities transactions, led some customers to lose millions of dollars.

The three MetLife affiliates are New England Securities Corp., Walnut Street Securities Inc. and Tower Square Securities...
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