Chase Investment Services Corp., a division of JPMorgan Chase, will have to reimburse brokerage customers $1.9 million over the sale of unit investment trusts and floating rate loan funds not deemed suitable for them, FINRA announced on Tuesday.

The Chase unit recommended the investments to unsophisticated investors with little or no risk tolerance, FINRA said. UITs are diverse baskets of securities that can include risky and speculative investments like high-yield or junk bonds. As for floating-rate loans, they are mutual funds that invest in portfolios of secured loans made to borrowers with below investment-grade credit quality. FINRA will also require Chase to pay a $1.7 million fine.

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