Remote Office Supervision This post is designed to provide a summary of various rules and regulations requiring the establishment and enforcement of supervisory responsibilities over remote activities of a firm’s business activities. It is being presented for educational purposes only and thus, is not designed to be complete in all…
Recently, the Financial Industry Regulatory Authority (FINRA) issued an Order Accepting Offer of Settlement in which Della Rosa was barred from association with any FINRA member in all capacities. Mr. Della Rosa’s last FINRA association was with Corinthian Partners, LLC. Without admitting or denying the allegations, Della Rosa consented to the sanction and…
The below referenced FINRA Enforcement Action provides examples of what would constitute a negligent misrepresentations and omissions in any offering. In this particular circumstance, it related to the offering of notes of the parent company of WestPark Capital. WestPark Capital, Inc. (CRD #39914, Los Angeles, California) and Richard Alyn Rappaport…
CONTINGENCY OR BEST EFFORTS OFFERING: Securities and Exchange Act Rules 10-b9 and 15c2-4 contain requirements that must be satisfied in “Contingency” or “Best Efforts” offerings. FINRA (the Financial Industry Regulatory Authority) has provided guidance to broker/dealers regarding the requirements of these rules and to remind broker-dealers of their responsibility to…
The below FINRA Enforcement Action provides a summary of certain issues that broker/dealers must take into consideration when involved in a contingency or best efforts offering. Newbridge Securities Corporation (CRD #104065, Boca Raton, Florida) and Bruce Howard Jordan (CRD #1223556, Boca Raton, Florida): Recently, FINRA announced that a Letter of…
Nathanial Ponn – South Florida Common and Preferred Stock Fraud and Misrepresentation Litigation and Arbitration Attorney Securities and Exchange Commission v. Nathanial D. Ponn, Civil Action No. 16-10624-GAO (D. Mass. filed March 31, 2016) The Securities and Exchange Commission recently announced fraud charges against Massachusetts resident Nathanial D. Ponn for engaging…
Market Volatility – Margin Accounts – Margin Calls, Margin Abuse and Account Deficits Especially Relating to Option Transactions – Boca Raton, Florida Margin Deficit FINRA Arbitration Attorney: There is a substantial difference between the risks and rewards arising from the use of a margin account as opposed to a cash account.…
Popular Securities, Inc. n/k/a Popular Securities, LLC – Boca Raton, Florida Puerto Rico Bond and Closed-End-Fund Over Concentration and Unsuitablity FINRA Arbitration 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…
Oriental Financial Services Corp. – South Florida Unsuitable Puerto Rico Bond Investment FINRA Arbitration 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…
Citigroup Global Markets Inc. – South Florida Broker/Dealer and Account Executive Breach of Fiduciary Duty FINRA Arbitration 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…