SEC & FINRA punish Cadaret Grant over $1.7 Million for failure to supervise

Furgison Law Group is taking cases against Cadaret Grant related to the sale of complex oil future investments

The securities fraud lawyers at Furgison Law Group are currently investigating claims against Cadaret Grant & Co. Inc., related to the unsuitable sale of Exchange-Traded Notes (ETN) and Variable Annuities. The arbitration attorneys at Furgison Law Group are investigating claims involving allegations of breach of fiduciary duty, failure to supervise, misrepresentations, omissions of material facts, conflict of interests, violations of state and federal securities laws, along with other broker misconduct.

The Securities and Exchange Commission imposed $938,194 in disgorgement and penalties against Cadaret brokers and the firm for unsuitable sale of complex investment products tied to oil futures.

The Financial Industry Regulatory Authority Inc. fined Cadaret $800,000 for failing to establish "a reasonably-designed supervisory system" across several areas of its business, including sales of variable annuities.

Investors Have the Right to Recover Their Losses

When investments are sold by brokerage firms licensed by FINRA, they are subject to the laws that FINRA enforces. The brokerage firms are responsible for ensuring that their brokers are trading fairly, ethically and in the best interest of their clients. Ideally, they would accomplish this through careful supervision. Unfortunately, too often this supervision has been inadequate to fully protect investors. If you purchased any investments through a representative of a registered brokerage firm and suffered losses through negligence or fraud, it immediately puts the brokerage firm at fault for failing to supervise their broker. FINRA law then dictates that you can hold the firm legally liable to recover your damages.

Can I recover my investment losses?

If you lost a substantial portion of your retirement savings or other assets as a result of investments purchased through Cadaret Grant, please contact us immediately. Our investment fraud lawyers have recovered millions of dollars from the largest banks, insurance companies and brokerage firms in the world on behalf of investment fraud victims. You may have certain legal rights that require your immediate attention. Time is of the essence in these claims. The sooner you act, the greater your chances of recovering your investment losses. Don't wait. Contact us TODAY for a FREE Consultation and case evaluation. We will tell you if you have a viable claim worth pursuing.