Did Carolina Financial Securities, LLC Cause You Investment Losses?
Brevard, North Carolina-based Carolina Financial Securities, LLC (Carolina Financial) agreed to, without admitting or denying, the described penalties and to the entry of the Financial Industry Regulatory Authority’s (FINRA) findings that it failed to supervise the sale of an unregistered private placement offering to investors with investments of approximately $1.1 million. FINRA found that Carolina Financial failed to follow its procedures pertaining to the review and verification of statements made in private placement offering documents. In addition, FINRA found that the brokerage firm did not conduct adequate due diligence prior to the approval of the offering for sale to its investors.
FINRA’s findings stated that Carolina Financial failed to supervise several aspects of the offering’s private placement memorandum (PPM). First, Carolina Financial neglected to make sure that the PPM included all necessary material information. Second, Carolina Financial neglected to review the underlying loan agreement for the property which was involved in the offering. Third, the firm neglected to notice that the PPM did not disclose a material capital call provision in the aforementioned loan agreement. Lastly, Carolina Financial approved the private placement offering to its investors without confirming the details of the loan agreement made in the PPM. As a result, Carolina Financial was censured and fined $50,000 by FINRA.
North Carolina has thousands of stock brokerage firms and investment advisory offices. With so many stock brokerage firms and investment advisory offices, comes the potential for their stockbrokers, financial advisors, and other representatives to misrepresent and mislead investors about investing in Private Placements of securities issued by small undercapitalized start-ups, their own companies and other dubious companies and engage in all kinds of stockbroker misconduct which violates Federal and North Carolina securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures.
Experienced Securities Lawyers for Investors with Private Placement Investment Claims in FINRA Arbitrations Throughout North Carolina and Nationwide.
Are you a North Carolina investor who has suffered significant losses in your stock brokerage and investment accounts? Did your North Carolina stockbroker or investment advisor misrepresent or mislead you about an investment in a Private Placement or make an unsuitable recommendation that you invest in a Private Placement like GPB Capital Holdings or EquiAlt or otherwise mismanage your investment account? If so, you will need to hire an experienced, highly rated and nationally recognized FINRA securities arbitration law attorney who understands these highly complex and risky Private Placement investments. You need an experienced lawyer knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases and other complex legal issues.
By hiring a top rated and highly successful attorney like Robert Wayne Pearce with over 40 years of experience 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 attorneys to recover your investment losses in Private Placements and all types of stockbroker misconduct in FINRA arbitration proceedings!
At The Law Offices of Robert Wayne Pearce, P.A., we represent investors in all kinds of Private Placement of securities in FINRA arbitration and mediation proceedings. We handle a wide range of practice areas such as fraud and misrepresentation, breach of fiduciary duty, failure to supervise, and unsuitable recommendations of Private Placements. Attorney Pearce and his staff represent investors throughout North Carolina, 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 Experienced Private Placement Investment Attorney Serving North Carolina Residents In FINRA Arbitration Proceedings
The Law Offices of Robert Wayne Pearce, P.A. are highly experienced attorneys who successfully handle Private Placement cases and other securities law matters and investment disputes in FINRA arbitration proceedings, and who work tirelessly to secure the best possible result for you and your case. For dedicated representation by a lawyer with over 40 years of experience and success in Private Placements and all kinds of securities law and investment disputes serving North Carolina citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.