FINRA Panel Throws Out H&R Block Complaint

Law360, New York (April 28, 2008, 12:00 AM EDT) -- A Financial Industry Regulatory Authority panel has dismissed a complaint filed against H&R Block Financial Advisors Inc. alleging inappropriate sales practices and supervisory violations relating to sales of Enron Corp. bonds in the weeks before the energy company's collapse.

A hearing panel ruled Friday that FINRA's Department of Enforcement failed to show that H&R Block's registered representatives misrepresented or omitted material facts in connection with sales of Enron bonds. Basically, the complaint alleged that H&R Block used inflated gross sales credits set by its fixed-income department...
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