Brokerage ConvergEx to pay $150M in penalties to settle charges over unwarranted fees

  • by: KATIE ZEZIMA , Associated Press
  • Updated: December 18, 2013 - 5:50 PM

NEWARK, N.J. — The New York-based brokerage ConvergEx Group will pay $150 million to settle civil and criminal charges that it charged clients millions of dollars in unwarranted fees and hid the practice from investors, the Justice Department said Wednesday.

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