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SunTrust Fined Again

Detective Krum

Detective Krum

SunTrust is Fined Again

By: Detective Krum

The Financial Industry Regulatory Authority (FINRA) announced today that it has fined SunTrust Investment Services, Inc., $700,000 for supervisory violations relating to its fee-based brokerage business and to commissions on certain low-priced stocks. SunTrust Investment Services are no stranger to fines.

1. On 8/02/2007 SunTrust Investment Services was fined $ 400 for not renewing an application on time. The firm insurance license was not renewed.

2. On 7/30/2007 – SunTrust Investment Services advisory representative was not properly registered with the state as an investment advisory representative. They were fined $ 4,500 and sanctions were ordered.

3. On 8/7/2006 – SunTrust Investment Services violated an SEC rule and was fined $ 150,000. and censure.

Would it be characteristic for SunTrust Bank to follow in SunTrust Investment Services path?

On 7/22/2008, STI reported 2nd quarter 2008 earnings of $0.78 per share. This result beat the +$0.64 consensus of the 19 analysts covering the company and missed last year’s 2nd quarter results by -47.3%. The next earnings announcement is expected on 10/23/2008 and analysts are looking for $0.61 per share. We will have to see what SunTrust Banks comes in at.

Our next post looks at Florida Trend Magazine information about SunTrust Banks. Be sure to click on our RSS feed to receive updates regularly for Detective Krum RSS feeds.


October 17, 2008 - Posted by | 1, Victory 1 News | , , , , ,

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