Alton Securities Group, Inc.— Failure to Establish, Implement, and Maintain a Reasonable SupervisorySystem

investment fraud attorneysAlton Securities Group, Inc. Allegedly Failed to Establish, Implement, and Maintain a Supervisory System Reasonably Designed to Ensure that Registered Reps Made Suitable Recommendations of Complex Products

Alton Securities Group, Inc. allegedly failed to establish, implement, and maintain a supervisory system reasonably designed to ensure that registered representatives made suitable recommendations of complex products, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC).

Alton Securities Group, Inc. also allegedly failed to adopt and implement adequate supervisory procedures relating to markups and markdowns on corporate debt transactions, said AWC also reports.

Alton Securities Group, Inc. Ordered Partial Restitution of $75k for Failure to Establish, Implement, and Maintain an Adequate Supervisory System

Alton Securities Group, Inc. allegedly failed to establish, implement, and maintain an adequate supervisory system, and hence, allegedly violated NASD and FINRA Rules, and has been fined $75,000 by FINRA.

In addition, Alton Securities Group, Inc. allegedly recommended 642 purchases of Non-Traditional ETFs in 225 different accounts, with markups and markdowns for said ETF’s ranging from 3.02-4.73%, the AWC reports.

One should also note that, according to the AWC, Matthew Charles Woodard neither admitted nor denied the FINRA findings.

The Peiffer Rosca Wolf Securities Lawyers Often Assist Investors

The Peiffer Rosca Wolf securities lawyers assist investors who lose money as a result of failure to establish, implement, and maintain an adequate supervisory system. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of failure to establish, implement, and maintain an adequate supervisory system are encouraged to contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1144 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.