Chase Investment Services Corporation—UITs and Floating-Rate Loan Funds
This case is closed. You may review eligibility and related claims information for reference only.
Who is eligible for restitution?
Customers of Chase Investment Services Corporation who suffered previously uncompensated losses on 257 unsuitable transactions in the First Trust Income UIT or the First Trust Strategic Income UIT, and customers of Chase Investment Services Corporation and WaMu Investments Inc. who suffered previously uncompensated losses on 105 unsuitable transactions in floating-rate loan funds.
How will eligible individuals be notified?
Chase Investment Services Corporation is required to notify eligible customers and complete the process of making the restitution payments by no later than April 13, 2012.
What options are available to investors?
Accepting restitution payments under this settlement does not foreclose your ability to pursue arbitration or mediation if you believe you have suffered losses. You should consult an attorney as to your rights.
Additional questions or concerns
Director, Enforcement Center
FINRA Department of Enforcement
1801 K Street, N.W., 8th Floor
Washington, D.C. 20006-1500
For more information about the FINRA enforcement action, see FINRA’s News Release: FINRA Orders Chase to Reimburse Customers $1.9 Million for Unsuitable Sales of UITs and Floating-Rate Loan Funds.