Boca Raton's Noble Capital Markets Fined and Broker,Nicolaas Petrus Pronk, Fined and Suspended by FINRA

Soreide Law Group, based in Pompano Beach, Florida, obtained the following information from FINRA’s December 2017 Disciplinary Report: 
Noble Capital Markets, Inc. fka Noble Financial Capital Markets (CRD® #15768, Boca Raton, Florida) and
Nicolaas Petrus Pronk (CRD #1726101, Lighthouse Point, Florida)
FINRA issued an Offer of Settlement in which Noble Capital Markets was fined $225,000, and Nicolaas Petrus Pronk was fined $25,000, suspended by FINRA for eight months—in any principal capacity for six months, and consecutively, two months in all capacities—and required to requalify by examination for the Series 7 and Series 24 licenses. If Pronk fails to requalify as a General Securities Representative or General Securities Principal within the eight-month suspension period, he will be suspended from acting in such capacity until the examination is successfully complete.
Noble Capital Markets and Nicolaas Petrus Pronk allegedly recommended and sold nearly a million shares of a company’s common stock to clients without disclosing the firm’s multiple and material conflicts of interest.
FINRA’s findings stated that allegedly Noble Capital Markets and Nicolaas Petrus Pronk aggressively promoted and recommended the company’s common stock to prospective investors to profit from the firm’s undisclosed investment banking relationships with the company and their undisclosed arbitrage of the company’s securities, which created a financial incentive for the firm and Pronk to recommend the common stock to clients. Pronk retained ultimate control over all firm activities including proprietary trading, sales, investment banking, and the decision to initiate and prioritize the promotion and sale of the common stock. To boost the sale of the company’s common stock, allegedly, Noble Capital Markets and Nicolaas Petrus Pronk aggressively promoted and solicited purchases of the common stock by issuing research through the firm’s research department, conducting non-deal road shows through the firm’s investment banking and institutional sales departments, and contacting prospective investors, primarily institutions, through registered representatives in the firm’s institutional sales departments.
According to FINRA, Noble Capital Markets and Nicolaas Petrus Pronk also provided the representatives with a misleading sales script to use when soliciting prospective investors in the company’s common stock.
FINRA’s findings also stated that Noble Capital Markets and Nicolaas Petrus Pronk allegedly failed to disclose to the clients who purchased the company’s common stock of the firm’s advisory and warrant agreements with the company and the compensation it received. Also FINRA stated that the firm failed to disclose to the clients the additional compensation the firm promised its registered representatives for promoting, recommending and selling the company’s stock, and of the firm’s speculative arbitrage strategy in the company’s securities that created a financial incentive for the firm and Pronk to recommend the company’s stock.
Noble Capital Markets and Nicolaas Petrus Pronk did not disclose or take any steps to ensure that the representatives disclose to the clients to whom they recommended and sold the common stock that the firm and Pronk were engaged in the speculative arbitrage strategy.
FINRA’s findings also included that Noble Capital Markets issued research reports that failed to disclose that it had a current client relationship with the company, and the firm expected to receive or intended to seek compensation from its investment-banking activities with the company in the three months that followed the issuance of the research reports.
The suspension in any principal capacity is in effect from December 1, 2017, through May 31, 2018. The suspension in all capacities will be in effect from June 1, 2018, through July 31, 2018.
(FINRA Case #2013035740901) 
If you were a client of Nicolaas Petrus Pronk and/or the Boca Raton firm, Noble Capital Markets, and you suffered losses due to their actions or recommendations, call the South Florida-based, Soreide Law Group, and speak to a securities lawyer regarding the possible recovery of your investment through a FINRA arbitration at:  888-760-6552.
Soreide Law Group represents clients nationwide before FINRA and we operate on a contingency fee basis.  Let our years of experience work for you.