Kerry Jones

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FINRA has been engaged in a “stealth sweep” of firms’ untimely deliveries of mutual fund and ETF prospectuses that has resulted in formal disciplinary proceedings against twelve firms since 2011, and a total of over $5 million in fines.  Oddly, FINRA has not posted the “Targeted Examination Letter” that initiated the sweep, has not issued any guidance about the sweep’s findings beyond the press release that announced the first of the eight disciplinary proceedings, nor…