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Fidelity Fined $600K Over Employee Who Raided Stock-Plan Accounts
News January 09, 2025 at 04:07 PM
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What You Need To Know
- The firm failed to detect an associated person's conversion of $750,000 over eight years, FINRA said.
- The associated person was able to use his data access to change the plan participant’s name to his own.
- Upon discovery, Fidelity terminated the associated person, notified FINRA and made full restitution.
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