The Soreide Law Group (888-760-6552) obtained the following information on FINRA's website under, "Disciplinary and Other FINRA Actions March 2016." Global Arena Capital Corp (CRD® #16871, New York, New York) was expelled from FINRA membership, fined $1 million and ordered to disgorge $333,083.26, plus interest. FINRA's sanctions were based on findings that Global Arena Capital […]

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 […]

BB&T Securities, LLC (CRD #142785, Richmond, Virginia) was censured, fined $20,000 and ordered to pay $7,243.62, plus interest, in restitution to their clients for alleged excessive mark-ups on corporate bond transactions, excessive mark-down on a corporate bond transaction, and excessive mark-up on a municipal bond transaction. FINRA's findings said the mark-ups and mark-down were not […]