RW Baird agrees to pay $2.1m for mutual fund overcharging

Robert W Baird & Co is to pay $2.1m in restitution to settle a Financial Industry Regulatory Authority (FINRA) claim that it overcharged certain retirement plans and charities for mutual funds, though the firm did escape a fine after being credited with exemplary cooperation.

By Ed Beeson (April 18, 2016, 4:01 PM EDT) -- Robert W. Baird & Co. has agreed to pay $2.1 million in restitution to settle a Financial Industry Regulatory Authority claim that it overcharged certain retirement plans and charities for mutual funds, but the Milwaukee-based broker-dealer escaped a fine after being credited for extraordinary cooperation....

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