Investors Capital Corporation (Investors Capital) of Lynnfield, Massachusetts submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Department of Enforcement of the Financial Industry Regulatory Authority (FINRA) for allegedly failing to establish, maintain, and enforce a proper supervisory system in connection with the recommendation of Unit Investment Trusts (UITs). FINRA’s investigators found that some registered representatives of Investors Capital recommended unsuitable and excessive short-term trades of UITs which resulted in approximately $242,892 in customer losses. FINRA also found that the firm failed to apply sales charge discounts to 1,995 customers’ purchases of UITs resulting in excessive charges totaling $472,876. Without admitting or denying FINRA’s findings, Investors Capital agreed to the sanctions and was fined $250,000 and required to pay $841,532.91 in restitution to affected customers.
Do You Need an Attorney for a Failure to Supervise Matter?
Massachusetts has thousands of stock brokerage firms and investment advisory offices. With so many stock brokerage firms comes the potential for a stock brokerage firm to fail to supervise its stockbrokers, financial advisors and investment advisors from engaging in misconduct which violates Federal and Massachusetts securities laws and Financial Industry Regulatory Authority (FINRA) rules and the stock brokerage firm’s policies and procedures.
Experienced Lawyers Who Handle Failure to Supervise Stockbroker Claims In FINRA Arbitrations Throughout Massachusetts and Nationwide.
Are you a Massachusetts investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Massachusetts stockbrokerage or investment advisory firm where you do business fail to supervise the stockbroker who recommended bad investments and otherwise mismanage your investment account? If so, you will need to hire an experienced, highly-rated and nationally recognized FINRA securities arbitration lawyer— an attorney who knows how to handle these failure to supervise cases as well as other complex legal issues.
By hiring a top rated attorney like Robert Wayne Pearce with over 40 years of experience with failure to supervise claims by practicing securities law on both sides of the table in FINRA arbitration proceedings, you will clearly see that Attorney Pearce doesn’t just handle cases—he aggressively represents investors and is one of the best lawyers to recover your investment losses due to a stockbrokerage or investment advisory firm’s failure to supervises its registered representatives in FINRA arbitration proceedings!
At The Law Offices of Robert Wayne Pearce, P.A., we represent investors with failure to supervise claims and all kinds of securities law and investment disputes in FINRA arbitration and mediation proceedings. We handle a wide range of practice areassuch asfraud and misrepresentation, breach of fiduciary duty, churning, theft, forgery, margin account abuse and unsuitable recommendations to purchase, sell or hold securities or recommend unsuitable investments strategies. Attorney Pearce and his staff represent investors throughout Massachusetts, and across the United States on a CONTINGENCY FEE basis, which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award.
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Free Initial Consultation With An Attorney Experienced In Failure to Supervise Stockbroker Disputes Serving Massachusetts Residents In FINRA Arbitrations
The Law Offices of Robert Wayne Pearce, P.A. are highly experienced lawyers who successfully handle failure to supervise claims and other securities law matters and investment disputes in Massachusetts, and who work tirelessly to secure the best possible result for you and your case. For dedicated representation by an attorney with over 40 years of experience and success in failure to supervise and all kinds of securities law and investment disputes serving Massachusetts citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.