Popular Securities, Inc. nka Popular Securities, LLC (CRD #8096, San Juan, Puerto Rico) was censured and fined $125,000 for alleged failure to establish, maintain, and enforce a supervisory system and procedures reasonably designed to identify and review concentrated securities purchases, including PR municipal bonds and PR closed-end funds. FINRA's findings stated that when the PR […]

Oriental Financial Services Corp. (CRD #29753, San Juan, Puerto Rico) was censured, fined $245,000 and must submit to FINRA a proposed methodology of how it will identify, review and remediate unsuitably concentrated Puerto Rico (PR) securities purchases. At a minimum, the methodology must include Oriental Financial Services Corp’s review of customers’ concentrated PR securities purchases […]

NEXT Financial Group, Inc. (CRD #46214, Houston, Texas) was censured, fined $265,000 and ordered to pay $177,071.01, plus interest, in restitution to customers for allegedly purchasing agency securities for its own account from a customer or sold agency securities for its own account to a customer in the course of its business at an unfair […]

The Florida-based Soreide Law Group obtained this summation of information from FINRA's Website "Disciplinary and Other FINRA Actions February 2015." NEWBRIDGE SECURITIES CORPORATION (CRD #104065, Ft. Lauderdale, Florida) was censured, fined $138,000 and required to revise its WSPs for allegedly selling (buying) corporate bonds to (from) customers, and failed to sell (buy) such bonds at […]

National Securities Corporation (CRD #7569, Seattle, Washington) was censured and fined $35,000 for allegedly filing late amendments to Forms U4 and Uniform Termination Notices for Securities Industry Registration (Forms U5), and reclassified customer complaints as sales practice violations, after discussions with FINRA, which resulted in additional late filings. FINRA's findings stated that National Securities Corporation […]

Florida-based Soreide Law Group has obtained the following summation of information from FINRA's Website under "Disciplinary and Other FINRA Actions February 2015." Dawson James Securities, Inc. (CRD #130645, Boca Raton, Florida) was censured and fined $30,000 for allegedly failing to establish and implement an adequate system to determine whether a former registrant’s disclosed outside business […]

Essex Securities LLC (CRD #46605, Topsfield, Massachusetts) was censured, fined $20,000, ordered to pay $6,009.70, plus interest, in restitution to clients and required to review its supervisory systems and WSPs regarding the sale of mutual funds for compliance with FINRA rules and the federal securities laws and regulations. FINRA imposed a lower fine in this […]

Darren C. Goodrich (CRD #4213469, Manhattan Beach, California) was fined $10,000 and suspended by FINRA for 30 days because on behalf of certain clients, Goodrich allegedly sold certain shares of an issuer whose securities were not registered and were not subject to an applicable exemption from registration. FINRA's findings stated that Goodrich’s clients allegedly deposited […]

Bloomberg Tradebook LLC (CRD #40881, New York, New York) was censured, fined $140,000 and required to revise its written supervisory procedures (WSPs) by FINRA. Allegedly, Bloomberg Tradebook LLC executed short sale and short sale exempt transactions, and failed to report each of these transactions to the FINRA/NASDAQ Trade Reporting Facility (FNTRF) with a short sale […]