
The Financial Industry Regulatory Authority fined Fifth Third Securities, Inc., $4 million and required the firm to pay approximately $2 million in restitution to customers for failing to appropriately consider and accurately describe the costs and benefits of variable annuity (VA) exchanges, and for recommending exchanges without a reasonable basis to believe the exchanges were suitable. For more info visit https://www.finra.org/media-center/news-releases/2018/finra-sanctions-fifth-third-securities-6-million-va-exchange-violations