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IF Distributor, Inc.

IF Distributor, Inc. (CRD #36461, Scottsdale, Arizona) received a censure and fine of $125,000 and VESTAX Securities Corporation (CRD #10332, Hudson, Ohio) received a censure and fine of $25,000. According to the findings, IF Distributor, Inc. (IFD) paid bonuses on sales of mutual funds shares to various broker/dealers. The regulators found that pursuant to special compensation arrangements, IFD paid additional bonuses to a certain group of registered representatives, which was associated with one of IFD's affiliates, VESTAX. The findings stated that IFD and VESTAX failed to ensure that the special cash compensation arrangements were disclosed to public customers as required by NASD rules. The firm accepted the fine and censure but did not admit or deny the accusations. (NASD Case #C8A030001)

Did IF Distributor, Inc. manage your investments?



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