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Written by 7:42 pm Blog, Securities Fraud Articles

Peterson Investments, Inc. fined by FINRA over supervisory system.

Petersen Investments, Inc. (CRD #38537, Wall, New Jersey) recently submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $15,000.

Without admitting or denying the findings, the firm consented to the described sanctions and to the entry of findings that it failed to establish and maintain a supervisory system and written procedures reasonably designed to ensure its registered representatives’ compliance with applicable securities laws, regulations and FINRA’s rules.

The findings stated that the firm’s systems and written procedures for about five years were not reasonably designed to detect and monitor for unsuitable recommendations, trading in low-priced securities, churning and concentrations in one security.

This information which is publicly available on FINRA’s website has been provided by The White Law Group, LLC.

If you have questions about investments you made with Peterson Investments, Inc., the securities attorneys of The White Law Group may be able to help.  To speak with a securities attorney, please call the firm’s Chicago office at 312/238-9650.

The White Law Group, LLC 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, please visit our website at https://whitesecuritieslaw.com.

Tags: , , , , , , , Last modified: July 17, 2015