The Financial Industry Regulatory Authority said Thursday that it has fined two Wachovia units more than $4.5 million for violations related to the sales of mutual funds and unit investment trusts.

It fined Wachovia Securities $4.4 million, saying the brokerage failed to provide investors with sales-charge discounts in eligible unit-investment-trust transactions and did not ensure investors received the benefit of net-asset-value transfer programs where they applied in mutual fund purchases.

Wachovia Securities Financial Network was fined $150,500 for improper sales of class B shares.

Wachovia and its units are now owned by Wells Fargo & Co.

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