Florida-based Soreide Law Group, (888) 760-6552, recently obtained the following information from FINRA's website under “Disciplinary and Other FINRA Actions, January, 2016.”
J.P. Turner & Company, L.L.C. (CRD #43177, Atlanta, Georgia)
was censured, fined $140,000 and ordered to pay $76,743.68, plus interest, in restitution to their clients for allegedly buying and/or selling municipal securities for its own account from and/or to a client at price (including any mark-up or mark-down) that was not fair and reasonable, taking into consideration all relevant factors, including the best judgment of the broker, dealer or municipal securities dealer as to the fair market value of the securities at the time of the transaction and of any securities exchanged or traded in connection with the transaction; the expense involved in the transaction; the fact that the broker, dealer, or municipal securities dealer is entitled to a profit; and the total dollar amount of the transaction.
FINRA’s findings also stated that J.P. Turner and Company’s supervisory system did not provide for supervision reasonably designed to achieve compliance with respect to the appropriate securities laws and regulations, and Municipal Securities Rulemaking Board (MSRB) rules, concerning fair pricing of municipal securities.
(FINRA Case #2013035877801)
If you've suffered investment losses due to your broker or financial advisor's recommendations in municipal securities through J.P. Turner, Atlanta, GA, or another brokerage, call Soreide Law Group for a free consultation with an attorney: 888-760-6552.
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