Author: Contributor

Posted on

Fined: Cowen and Company, LLC Fined by FINRA

Fined

Cowen and Company, LLC Fined by FINRA

18 March 2019

An AWC was issued in which the firm was censured, fined $175,000 and required to revise its supervisory system and WSPs with respect to its compliance with its OATS reporting obligation. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it transmitted reports to OATS that contained inaccurate, incomplete, or improperly formatted data. The findings stated that the ROEs contained inaccurate Firm Order Identifications (FOIDs).

Read full report.

Posted on

Fined: Accelerated Capital Group, Inc. Fined by FINRA

Fined

Accelerated Capital Group, Inc. Fined by FINRA

15 March 2019

An Office of Hearing Officers (OHO) decision became final in which the firm was censured, fined $400,000 and ordered to pay $422,029.53, plus interest, in restitution to six customers. The sanctions were based on findings that the firm failed to establish and maintain a supervisory system and written procedures reasonably designed to achieve compliance with applicable federal securities laws, regulations and NASD®/FINRA rules.

Read full report.

Posted on

Release: Health Insurance Innovations, Inc. Investor Reminder Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a federal securities class action lawsuit has been filed in the United States District Court for the Middle District of Florida against Health Insurance Innovations, Inc.

Release

Health Insurance Innovations, Inc. Investor Reminder: Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a federal securities class action lawsuit has been filed in the United States District Court for the Middle District of Florida against Health Insurance Innovations, Inc.

14 March 2019

Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the Middle District of Florida on behalf of all persons or entities who purchased or otherwise acquired Health Insurance Innovations, Inc. (the “Company” or “HIIQ”) (NASDAQ: HIIQ) securities between February 28, 2018 and November 27, 2018 (the “Class Period”), inclusive.

Read full release.

Posted on

Fined: Sigma Financial Corporation Fined by FINRA

Fined

Sigma Financial Corporation Fined by FINRA

7 March 2019

An AWC was issued in which the firm was censured and fined $100,000. 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 and WSPs reasonably designed to achieve compliance with securities laws, regulations and FINRA rules applicable to the sales of leveraged, inverse and inverse-leveraged ETFs.

Posted on

Fined: Parkland Securities, LLC Fined by FINRA

Fined

Parkland Securities, LLC Fined by FINRA

7 March 2019

An AWC was issued in which the firm was censured and fined $20,000. 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 and WSPs reasonably designed to achieve compliance with securities laws, regulations and FINRA rules applicable to the sales of leveraged, inverse and inverse-leveraged ExchangeTraded Funds (ETFs).

Read full report.

Posted on

Fined: TriPoint Global Equities, LLC Fined by FINRA

Fined

TriPoint Global Equities, LLC Fined by FINRA

5 March 2019

An Offer of Settlement was issued in which the firm was censured, fined $100,000, ordered to pay disgorgement of commissions in the amount of $34,001, plus interest, prohibited for a period of 12 months from directly or indirectly receiving, in any manner, any penny stock in any form and required to submit a certification that its policies and procedures are reasonably designed with respect to its compliance with FINRA Rule 3310 and the registration requirements of Sections 5(a) and 5(c) of the Securities Act of 1933, including in connection with the firm’s private placement business and any offered securities.

Read full report.

Posted on

Suspended: CSSC Brokerage Services, Inc. Suspended by FINRA

Suspended

CSSC Brokerage Services, Inc. Suspended by FINRA

19 February 2019

An Office of Hearing Officers (OHO) decision became final in which the firm was fined $120,000, suspended from participating in private securities offerings in all capacities for one year and ordered to pay $130,000, plus interest, jointly and severally, in restitution to customers. The sanctions were based on findings that the firm willfully violated Section 10(b) of the Securities Exchange Act of 1934, Rule 10b-5 thereunder, and violated FINRA Rule 2020 by defrauding investors by offering and selling securities through a bridge loan offering designed to keep its floundering parent company afloat after more than three years of failed deals, significant business losses and mounting debts that the parent company could not pay.

Read full report.

Posted on

Fined: Cantone Research Inc. Fined by FINRA

Fined

Cantone Research Inc. Fined by FINRA

14 February 2019

The firm, Anthony Cantone and Christine Cantone appealed a National Adjudicatory Council (NAC) decision to the Securities and Exchange Commission (SEC). The firm was fined $150,000, jointly and severally, with Anthony Cantone and fined $73,000, jointly and severally, with Christine Cantone. Anthony Cantone was suspended from association with any FINRA member in all capacities for 15 months. Christine Cantone was suspended from association with any FINRA member in any principal and supervisory capacity for two years and required to requalify by examination as a securities principal upon completion of her suspension.

Read full report.

Posted on

Fined: Kestra Investment Services, LLC fka NFP Advisor Services, LLC Fined by FINRA

Fined

Kestra Investment Services, LLC fka NFP Advisor Services, LLC Fined by FINRA

13 February 2019

A Letter of Acceptance, Waiver and Consent (AWC) was issued in which the firm was censured, fined $225,000 and required to provide FINRA with a plan to remediate eligible customers who qualified for, but did not receive, the applicable mutual fund sales-charge waiver or appropriate share class. As part of this settlement, the firm agrees to pay restitution to eligible customers, which is estimated to total $1,947,704 (i.e. the amount eligible customers were overcharged, inclusive of interest).

Read full report.

Posted on

Fined: Revere Securities LLC Fined by FINRA

Fined

Revere Securities LLC Fined by FINRA

30 January 2019

An AWC was issued in which the firm was censured and fined $25,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to accurately report municipal securities transactions to the Real-time Transaction Reporting System (RTRS) and failed to maintain reasonably designed WSPs related to municipal securities.

Read full report.

THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?