FINRA Sanctions & Allegations of Misconduct

Western International Securities, Inc (CRD #39262) of Pasadena, California, was censured and fined $75,000 for failure to reasonably supervise the application of sales charge waivers to eligible mutual fund sales. The firm relied on its financial advisors to determine the applicability of sales charge waivers but failed to maintain reasonable written policies or procedures to assist financial advisors in making this determination. In addition, the firm failed to adequately notify and train its financial advisors regarding the availability of mutual fund sales charge waivers for eligible customers. The firm failed to adopt reasonable controls to detect instances in which they did not provide sales charge waivers to eligible customers in connection with their mutual fund purchases. As a result, the firm estimates that eligible customers were overcharged by approximately $305,000 for mutual fund purchases made since January 1, 2011.

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 at Western International Securities, Inc, 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.