Santander Securities LLC—Failure to Have a Reasonably Designed Supervisory System and Procedures

Santander Securities LLC Allegedly Failed to Have a Reasonably Designed Supervisory System and Procedures Relating to Sales of Puerto Rico Municipal Bonds Santander Securities LLC allegedly failed to maintain a reasonably designed supervisory system and procedures relating to sales of Puerto Rico Municipal Bonds (PRMB’s) to Puerto Rico customers, according to recent FINRA Letter of… Read more »

Improper Mutual Fund Fees Lead to Reimbursement Order Against Brokerage Firms

Edward Jones, Stifel Nicolaus & Co, Janney Montgomery Scott, Axa Advisors, and Stephens Inc., Ordered to Reimburse Clients for Allegedly Improper Mutual Fund Fee Charges Five broker-dealers were ordered to reimburse clients a total of $18.4 million, of allegedly improper mutual fund fee charges, according to Financial Industry Regulatory Authority (“FINRA”) documents under review by Peiffer… Read more »

UBS Financial Services Incorporated of Puerto Rico (UBS PR)—Failure to Establish and Maintain a Supervisory System and Procedures

UBS Financial Services Incorporated of Puerto Rico Allegedly Failed to Establish and Maintain a Supervisory System and Procedures UBS Financial Services Incorporated of Puerto Rico allegedly failed to establish and maintain a supervisory system and procedures reasonably designed to ensure the suitability of transactions in CEFs in certain circumstances, according to a recent FINRA Letter… Read more »

Global Arena brokers– Misleading Sales Pitches, Customer Account Churning and Other Business Misconduct

New Orleans Investment fraud attorneys

Several Global Capital Brokers Allegedly Engaged in Various Securities Violations Including Misleading Sales Pitches, Customer Account Churning and Other Business Misconduct Several Global Capital Brokers allegedly engaged in various securities violations including various misleading sales pitches, customer account churning and other business misconduct, according to statements from FINRA currently under review by attorneys Jason Kane… Read more »

Nationwide—Advertising Materials with Misleading Statements Allegations

Nationwide Allegedly Issued Advertising Materials that Contained Unbalanced, Exaggerated and Misleading Statements Nationwide, from March 2010 through May 2012, issued advertising materials that contained unbalanced, exaggerated and misleading statements, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC). In addition, Nationwide allegedly failed to adequately perform and document internal office inspections, failed… Read more »

Lincoln Financial— Failure to Have Adequate Supervisory Systems

investment fraud lawyers

Lincoln Financial Allegedly Failed to Maintain and Supply Adequate Supervisory Systems and Procedures Designed to Achieve Compliance with Their Suitability in Recommending the Hedge Fund Lincoln Financial allegedly failed to maintain and supply adequate supervisory systems and procedures designed to achieve compliance with their suitability obligations in recommending to the 25 customers that they invest… Read more »

Ronald Seth Cohen—Outside Business Activities with No Prior Notice

Ronald Seth Cohen Allegedly Engaged in Three Outside Business Activities Without Prior Notice to Morgan Stanley Ronald Seth Cohen, from September 2011 through 2014, allegedly took part in three outside business activities without providing the proper prior notice to his member firm, Morgan Stanley, according to a recent FINRA Letter of Acceptance, Waiver and Consent… Read more »

Anthony Gary Epps—Participation in Private Securities Transactions

Anthony Gary Epps Reportedly Participated in Private Securities Transactions by Allegedly Investing $190,000 in a Privately Held Start-Up, NHJ Anthony Gary Epps reportedly participated in private securities transactions by allegedly investing $190,000 in a privately held start-up known as NHJ, a privately held entity, according to a recent FINRA Letter of Acceptance, Waiver and Consent… Read more »

Scottsdale Capital Advisors—Sales of Unregistered Securities

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Scottsdale Capital Advisors Allegedly Took Part in Unregistered Sales of Securities, Including Liquidation of over 74 Million Shares of Three Microcap Stocks Scottsdale Capital Advisors Corporation (SCAC), between December 1, 2013 and June 30, 2014, allegedly liquidated over 74 million shares of three microcap stocks, including Neuro-Hitech Inc. (NHPI), Voip Pal.com (VPLM), and Orofino Gold… Read more »

Source Capital Group Sanctions — Selling Corporate Bonds at Unfair Prices

Source Capital Group Allegedly Sold Corporate Bonds at Unfair Prices Source Capital Group, from April 1, 2013 through June 30, 2013, allegedly sold corporate bonds to customers at unfair prices, when taking into consideration all relevant circumstances, according to recent FINRA Letter of Acceptance, Waiver and Consent (AWC). All such relevant circumstances, according to the AWC,… Read more »