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, include market conditions with respect to each bond at the time of said transaction and that the expense involved a profit for Source Capital.
Source Capital Group Fined and Censured by FINRA and Ordered Restitution of Over $1 Million
Source Capital, which has been a member of FINRA since October 13, 1994, and whose registration remains in effect, conducted itself in such a manner, as described in the previous paragraph, wherein the firm violated FINRA and NASD Rules, FINRA alleged.
As a result, Source Capital has received a censure, a fine of $5,000, and restitution ordered to be paid to customers in the amount of$1,524.97, plus interest, according to the AWC.
The Peiffer Wolf Carr & Kane Securities Lawyers Often Represent Investors
The Peiffer Wolf Carr & Kane securities lawyers often represent investors who lose money as a result of bonds sold at inappropriate prices. 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 bonds sold at inappropriate prices may contact the securities lawyers at Peiffer Wolf Carr & Kane, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at (585) 310-5140.