South Florida Arbitration & Litigation Lawyer Blog
Florida FINRA Investment and Securities Fraud, Mismanagement and Misrepresentation Attorney, Russell L. Forkey, Esq.
January, 2011:
Peraza Capital and Investment, LLC (CRD #117851, St. Petersburg, Florida) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $12,500. Without admitting or denying the findings, the firm consented to the described sanctions and to the entry of findings that it failed to maintain its minimum net capital requirement while it conducted a securities business, which resulted from the firm’s failure to record expenses on its books and records, its failure to accrue commissions payable, its failure to classify securities and cash in a brokerage account the firm maintained as non-allowable assets, its failure to classify a debit balance in the brokerage account, maintained as non-allowable assets, as a liability, and/or its miscalculation of haircuts. The findings stated that the firm placed more than 10 proprietary trades in 2008, which raised its minimum net capital requirement. The findings also stated that the firm did not file, and did not timely file, the requisite notification of its net capital deficiencies, and the firm maintained inaccurate books and records. The findings also included that the firm filed inaccurate FOCUS reports. (FINRA Case #2008011713901).