Soreide Law Group represents clients nationwide before FINRA on a contingency fee basis.  We are conveniently based in Pompano Beach, Florida, for all of our South Florida clients.  The following information regarding a South Florida brokerage firm, was obtained from the April 2017 Disciplinary Report on FINRA’s website: Dawson James Securities, Inc. (CRD #130645, Boca […]

Cambridge Investment Research, Inc. (CRD #39543, Fairfield, Iowa) was censured and fined $250,000 for allegedly failing to identify and apply “rollover” and exchange discounts to certain clients with eligible purchases of unit investment trusts (UIT), which resulted in those clients paying $423,774.27 in excessive sales charges. FINRA's findings stated that Cambridge Investment Research has paid […]

Clearview Correspondent Services, LLC nka BB&T Securities, LLC (CRD #142785, Richmond, Virginia) was censured and fined $1,000,000 for allegedly failing to properly aggregate positions for accounts that were acting in concert under the common control of specific registered representatives/investment advisors within the firm. FINRA's findings stated that as a result, the firm failed to report […]

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 […]

Chapin Davis, Inc. (CRD #28116, Baltimore, Maryland) was censured and fined $35,000 in connection with the alleged sale of structured products, the firm’s supervisory system and WSPs were inadequate. FINRA's findings stated that Chapin Davis sold approximately $24.5 million in structured notes and Federal Deposit Insurance Corporation (FDIC) insured structured certificates of deposit (CDs) to […]

INTL FCStone Securities Inc. (CRD #45993, Winter Park, Florida) was censured, fined $70,000, ordered to pay $62,297.13 plus interest in restitution to customers, and required to revise its WSPs (Written Supervisory Procedures). According to the FINRA report, allegedly INTL FCStone Securities Inc., partially executed customer limit orders in OTC (over-the-counter) securities after it traded each […]

Moloney Securities Co., Inc. (CRD #38535, Manchester, Missouri) was censured and fined $20,000 for allegedly allowing their representatives to recommend and sell non¬traditional ETFs to their clients. FINRA's report stated that Moloney Securities' Written Supervisory Procedures (WSPs) didn't address the sale or the supervision of non-traditional exchange traded funds (ETFs), and Moloney Securities did not […]

Turner & Company, L.L.C. (CRD #43177, Atlanta, Georgia) was censured and fined $65,000 by FINRA for allegedly failing to establish, maintain, and enforce Written Supervisory Procedures (also known as WSPs) designed to comply with securities laws and regulations. These laws include prohibiting insider trading and NASD Rule 3050, which requires brokers to have duplicate copies […]

Dawson James Securities, Inc. (CRD #130645, Boca Raton, Florida) was censured, fined $75,000, and required by FINRA to revise its Written Supervisory Procedures (WSPs). According to the FINRA report, Dawson James Securities WSPs allegedly failed to provide for one or more of the four minimum requirements for adequate WSPs in several subject areas required. FINRA's […]