MetLife faces 529 charges from NASD

In its 10-Q filing, MetLife indicates that the staff of the NASD has notified MetLife Securities Inc (MSI) that it has made a prelimary determination to recommend charging MSI for failures of supervision with respect to the sale of 529 plans by its reps. MSI intends to respond to the NASD staff before the NASD makes a formal recommendation as to any possible actions.
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