January 15, 2016

FINRA Sanctions Santander Securities LLC $6.4 Million for Supervisory Failures Related to Sales of Puerto Rican Bonds

January 15, 2016/ Jon Furgison

FINRA ordered Santander Securities LLC to pay approximately $4.3 million in restitution to certain customers who were solicited to purchase Puerto Rican Municipal Bonds (PRMBs). Additionally, the firm will pay restitution of $121,000 and make offers of rescission to buy back the securities sold to certain customers impacted by the firm's failure to supervise employee trading. FINRA also censured and fined Santander $2 million for supervisory failures.

January 15, 2016

FINRA Orders an Additional Five Firms to Pay $18 Million in Restitution to Charities and Retirement Accounts Overcharged for Mutual Funds

January 15, 2016/ Jon Furgison

FINRA order Edward Jones, Stifel Nicolaus, Janney Montgomery, AXA and Stephens to pay $18 million in restitution for overcharging customers and failing to adequately supervise the sale of mutual funds that offered sales charge waivers.

January 15, 2016

FINRA Fines Cantor Fitzgerald & Co. $7.3 Million for Selling Billions of Unregistered Microcap Shares

January 15, 2016/ Jon Furgison

FINRA has fined Cantor Fitzgerald & Co. $6 million and ordered disgorgement of nearly $1.3 million in commissions, plus interest, for selling billions of unregistered microcap shares in violation of federal law and failing to have adequate supervisory or anti-money laundering (AML) programs tailored to detect "red flags".

January 11, 2016

FINRA Fines Barclays Capital, Inc. $13.75 Million for Unsuitable Mutual Fund Transactions

January 11, 2016/ Jon Furgison

FINRA Sanctions Barclays Capital, Inc. $13.75 Million for Unsuitable Mutual Fund Transactions and Related Supervisory Failures

Stock Fraud Lawyer | Securities Arbitration Attorneys| Furgison Law Group

The Furgison Law Group represents retail and institutional investors around the world in securities arbitration and litigation. The firm represents clients before the Financial Industry Regulatory Authority (FINRA) [formerly the National Association of Securities Dealers (NASD)], the American Arbitration Association (AAA) and in numerous state and federal courts to resolve financial disputes between customers, financial advisers, banks, brokerage firms and other financial institutions.

Our firm has represented litigants in state and federal courts in California and across the country in a variety of business and professional liability disputes, including complex litigation and cases involving sophisticated theories of fraud, misrepresentations and omissions, professional negligence and breach of fiduciary duty.

Our headquarters are in Southern California, but we have a network of associate attorneys that allow us to serve clients from across the country and around the world.

We have recovered millions of dollars in investment losses for our clients and we look forward to helping you.

(310) 356-6890

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445 31st Street, Hermosa Beach, CA 90254
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Blog

News and Investor Alerts on investment scams, financial adviser fraud and other stockbroker misconduct.

News and Investor Alerts on investment scams, financial adviser fraud and other stockbroker misconduct

FINRA Sanctions Santander Securities LLC $6.4 Million for Supervisory Failures Related to Sales of Puerto Rican Bonds

FINRA Orders an Additional Five Firms to Pay $18 Million in Restitution to Charities and Retirement Accounts Overcharged for Mutual Funds

FINRA Fines Cantor Fitzgerald & Co. $7.3 Million for Selling Billions of Unregistered Microcap Shares

FINRA Fines Barclays Capital, Inc. $13.75 Million for Unsuitable Mutual Fund Transactions

FINRA Sanctions Barclays Capital, Inc. $13.75 Million for Unsuitable Mutual Fund Transactions and Related Supervisory Failures

Stock Fraud Lawyer | Securities Arbitration Attorneys| Furgison Law Group

(310) 356-6890