Realta Equities Review: Regulatory Sanctions and Broker Misconduct
The White Law Group is investigating potential securities claims involving Realta Equities, Inc. (CRD#: 23769 / SEC#: 8-40822). The firm, formerly known as Coastal Equities, Inc., and also operating under The Falmouth Financial Group, and Realta Wealth, has faced multiple regulatory actions from both FINRA and the SEC. The firm’s history includes significant sanctions for supervisory failures, GPB-related offerings, and inadequate oversight of brokers who engaged in excessive and unsuitable trading practices.
Regulatory Actions and Sanctions
- December 16, 2022 – FINRA Sanction (GPB Offerings & Supervision)
FINRA sanctioned the firm for negligently failing to disclose delayed SEC filings in GPB-related offerings and for supervisory failures. The firm was censured, fined $150,000, and ordered to pay $268,800 plus interest in restitution. - November 9, 2020 – FINRA Sanction (Excessive Trading)
FINRA found that the firm failed to reasonably supervise a broker who engaged in excessive and unsuitable trading, including margin use for senior investors. The firm was censured and ordered to pay $270,320 in restitution plus interest. - April 30, 2018 – FINRA Sanction (Bond Pricing Violations)
The regulator cited the firm for unfair pricing in corporate bond transactions and inadequate supervision of markups and markdowns. The firm was censured, fined $90,000, and ordered to pay $60,244.46 in restitution plus interest. - December 11, 2017 – SEC Action (Failure to Supervise CEO Theft)
The SEC instituted proceedings against Coastal Equities and Coastal Investment Advisors, citing failure to supervise the former CEO who stole $1.5 million from clients between 2009 and 2014. The case involved violations of Section 10(b) of the Securities Exchange Act and Rule 10b-5 and resulted in supervisory sanctions.
Broker Misconduct and Disciplinary Actions
Several current and former brokers affiliated with Realta Equities/Coastal Equities have faced disciplinary action:
- Luke Michael Johnson (CRD#: 3257008) – Suspended by FINRA and barred in Arizona for unsuitable alternative investment sales.
- Sam Aziz (CRD#: 1721932) – Barred by FINRA and had his Ohio license revoked after allegations of excessive trading and unsuitable investment recommendations.
- Jack Robert Thacker Jr. (CRD#: 2754773) – Formerly with Realta Equities, Thacker has numerous customer disputes and an arbitration award involving unsuitable alternative investments.
Investor Claims and Supervisory Concerns
Broker-dealers such as Realta Equities have a duty to establish and enforce adequate supervisory systems to protect investors. Failures to monitor trading activity, disclose risks, or oversee alternative investment sales can cause significant investor harm. These issues may form the basis of FINRA arbitration claims for recovery.
Why Hire a FINRA Arbitration Lawyer
If you suffered investment losses with Realta Equities, Coastal Equities, or one of their former representatives, you may have a claim for recovery through FINRA arbitration.
The White Law Group has handled hundreds of investor claims against brokerage firms involving supervisory failures, excessive trading, and unsuitable alternative investment sales. Our attorneys can:
- Review your account activity and investment losses.
- Draft and file a Statement of Claim in FINRA arbitration.
- Represent you throughout the process and negotiate potential settlements.
Contact Us
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois, and Seattle, Washington.
If you invested with Realta Equities, Inc. and have concerns about your losses, please call 888-637-5510 for a free consultation with a securities attorney.
For more information, visit www.whitesecuritieslaw.com.
Frequently Asked Questions (FAQs)
Why has Realta Equities faced multiple sanctions?
Regulators have cited the firm for supervisory failures, delayed disclosures, unfair pricing, and failure to oversee brokers who engaged in misconduct.
What can I do if I lost money with Realta Equities or its brokers?
You may be able to file a claim through FINRA arbitration to recover your losses. A securities attorney can help you evaluate your options.
How does The White Law Group help investors?
Our attorneys investigate misconduct claims, pursue FINRA arbitration cases, and fight to recover damages on behalf of investors nationwide.
