South Florida Arbitration & Litigation Lawyer Blog
Orlando, Florida Fraud, Misrepresentation and Negligent Supervision FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq.
October, 2011:
Brookstone Securities, Inc. (CRD #13366, Lakeland, Florida) submitted a Letter of
Acceptance, Waiver and Consent in which the firm was censured and fined $15,000. Without admitting or denying the findings, the firm consented to the described sanctions and to the entry of findings that it failed to disclose and to timely disclose material information and an arbitration on Forms U4, and failed to timely disclose arbitrations on registered representatives’ Uniform Termination Notices for Securities Industry Registration (Forms U5). The findings stated that the firm received separate complaints against a registered representative and reported the statistical and summary information regarding the complaint to FINRA via an NASD Rule 3070 filing, but failed to disclose that the representative was the subject of both complaints. (FINRA Case #2009016158302).