FINRA recently announced that National Securities Corporation has been fined $105,000 and required to pay $15,697.91, plus interest, in restitution to investors.
Without admitting or denying the findings, National Securities Corporation consented to the findings that it sold or bought corporate bonds to or from customers and failed to sell or buy the bonds at a price that was fair, taking into consideration all relevant circumstances, including market conditions with respect to each bond at the time of the transaction, the expense involved and that the firm was entitled to a profit. The findings also stated that the firm failed to transmit all of its Reportable Order Events (ROEs) to OATS on numerous business days.
According to the Firm’s FINRA Broker Report (CRD), this fine is the not the first time that National Securities Corporation has been implicated in a claim related to securities fraud. The firm’s FINRA Broker Report reveals that it has been named in at least 45 regulatory events related to securities violations, and has also been named in at least 22 arbitration cases regarding customer claims of securities fraud.
If you have questions about investments you made with National Securities Corporation, or if you believe that you have been the victim of a securities fraud, The White Law Group may be able to help. To speak to a securities attorney, please call our Chicago office at 312-238-9650 for a free consultation.
The White Law Group is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida.
For more information on The White Law Group, visit https://whitesecuritieslaw.com.Tags: broker fraud, corporate bonds, FINRA, investment losses, investor protection, law firm, NASD, National Securities Corporation, Seattle, SEC, securities arbitration, Securities Attorney, Securities Lawyer, Spokane, Washington Last modified: December 12, 2022