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J. P. Turner & Company: Unfair Prices

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J. P. Turner sanctions by Wall Street regulator in May, 2014 for $35,000 for buying and selling bonds from customers at unfair prices. What does this mean to you? A firm that deals in corporate bonds has a duty to fairly price those bonds, both on the buy and sell. The bond market is not as clear as the stock market, so it is not so easy for a customer–you–to know the market prices of a bond. Your stockbroker may be very nice and able to help you sell a bond early–to buy another investment through the firm–but the prices have to be fair. There are five factors that give the stockbroker some leeway in setting a fair price to you. J.P. Turner did not provide fair prices to its customers.

$35,000 is a lot to be censured and it shows that J. P. Turner just was not fair on pricing. Even more, setting unfair prices is a sign that a firm may do other things that are not fair to its customers. At J. P. Turner, at certain times and in certain accounts, “handling fees” were added to charges in customers accounts. Those handling fees were in addition to commissions but were for no particular work of the firm. Unfairness on pricing can really add up in an account, causing losses.

If you have suffered losses in your J. P. Turner & Company account of over $50,000, we can really help you recover those losses. Whether from over charges in the account, or unsupervised broker actions, we can help. Contact StockBrokerLawyer.com for a free, confidential review of your losses and whether the type of regulatory misconduct of the firm caused your losses.


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