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Posts tagged "Selling Away"

FSC Securities - Boca Raton, Florida Selling Away, Fraud and Misrepresentation FINRA Arbitration Attorney

FSC Securities Corporation (CRD #7461, Atlanta, Georgia) submitted an AWC in which the firm was censured and fined $200,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to establish, maintain, and enforce a supervisory system that was reasonably designed to review and monitor third-party check requests from customer accounts. The findings stated that a registered representative associated with the firm sold memberships in an investment fund created by a former firm representative. Without the firm's knowledge or approval, the representative sold memberships in the fund, which was not an approved product for sale, and the firm did not therefore supervise the representative's sales. In connection with the representative's sale of the fund memberships, the representative submitted to the firm Letters of Authorization (LOA) signed by each of the 15 firm customers, which authorized in aggregate approximately $1.6 million to be transferred from their firm brokerage accounts to a bank account the fund controlled. The findings also stated that the fund ultimately lost millions of dollars through speculative trading and other investments. To cover up the losses, the former firm representative created false account statements that fraudulently reflected fictitious assets and investment returns. The former representative made these false account statements available to the fund investors through its website. The firm's customers who invested in the fund suffered significant losses.

South Florida Selling Away FINRA Arbitration and Securities Litigation Attorney

South Florida Selling Away FINRA Arbitration and Securities Litigation Attorney:

The Financial Industry Regulatory Authority, Inc. (FINRA) is a self-regulatory authority assigned the responsibility, by the Securities and Exchange Commission, to license, regulate and discipline securities broker/dealers and their employees, including account executives. In the event that FINRA elects to institute an enforcement action, firms and licensed individuals have the responsibility to reflect such action on their U-4 and/or U-5 filings, which can be viewed on the FINRA website under the broker-check section of the site or by viewing the monthly disciplinary information also provided on the FINRA site.

Daniel Kim - South Florida Broker/Dealer and Investment Advisor Selling Away and Unapproved Outside Business Activity FINRA Arbitration and Litigation Attorney

South Florida Broker/Dealer and Account Executive Elder, Senior and Retirement Financial Abuse and Exploitation, Negligent Supervision, Breach of Fiduciary and Unapproved Outside Business Activity (Selling Away) FINRA Arbitration, Litigation and Probate Attorney:

Harry Shaw Hammond - South Florida Selling Away and Unapproved Outside Business Activity FINRA Arbitration and Litigation Attorney

South Florida Broker/Dealer Negligent Supervision, Breach of Fiduciary, Selling Away and Unapproved Outside Business Activity FINRA Arbitration and Litigation Attorney:

Lunick Jean Dorleus - Florida Securities Investment Club and Unapproved Outside Business Activity FINRA Arbitration and Litigation Attorney

South Florida Broker/Dealer and Account Executive Investment Club and Unapproved Outside Business and Negligent Supervision FINRA Arbitration, Litigation and Probate Estate Attorney.

Michael Andrew DeRosa - Florida Unregistered and Selling Away Promissory Note FINRA Arbitration and Litigation Attorney

South Florida Broker/Dealer and Account Executive Selling Away and Unregistered Promissory Note and Negligent Supervision FINRA Arbitration, Litigation and Probate Estate Attorney.

Equity Indexed Annuity - South Florida Insurance and Securities Fraud FINRA Arbitration and Litigation Attorney

Equity Indexed Annuity (Elder Abuse) - Fort Lauderdale, Boca Raton, Delray Beach, Lake Worth and West Palm Beach, Florida Insurance (fixed and variable annuity) and Securities Fraud and Misrepresentation FINRA Arbitration and Litigation Attorney:

South Florida Selling Away, Approved and Unapproved Outside Business Activity and Negligent Supervision FINRA Arbitration and Litigation Attorney

South Florida Selling Away, Approved, Unapproved Outside Business Activity and Negligent Supervision FINRA Arbitration and Litigation Attorney:

KeyBanc Capital Markets, Inc. f/k/a McDonald Investments Inc. - Florida Failure to Supervise and/or Negligent Supervision FINRA Arbitration and Litigation Attorney

KeyBanc Capital Markets, Inc. f/k/a McDonald Investments Inc. - Florida Failure to Supervise and/or Negligent Supervision FINRA Arbitration and Litigation Attorney:

Jeffrey Rubin - South Florida Unsuitable Recommendations and Selling Away FINRA Arbitration and Litigation Attorney

Jeffrey Rubin, Registered Representative, Lighthouse Point, Florida:

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