NASD Fines Wachovia $2M Over Fee-Based Accounts
In addition to the $2 million penalty, made public on Friday, the bank will identify and reimburse 1,300 customers who were charged extra fees for Class A mutual fund share holdings. Wachovia will also pay restitution to customers who were permitted to maintain their fee-based accounts when they should have been closed.
The NASD also ordered Wachovia...
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