Articles Tagged with National Securities Corporation

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Former National Securities Corporation (National Securities) broker, Glenn McDowell, has been barred by the Financial Industry Regulatory Authority (FINRA) for executing 38 unauthorized transactions in his customer’s account in a three month time period without the authority to do so.  Glenn McDowell, of Springfield Gardens, New York, caused his client to suffer losses of $64,740.08 as a result of the unauthorized trades.

According to FINRA, Mr. McDowell entered 38 unauthorized transactions in his customer’s account in a three month time frame.  FINRA deemed the number of unauthorized trades over the course of just three months to be quantitatively egregious misconduct.  Further, FINRA found that Mr. McDowell sometimes bought and then sold, or sold and then bought, the same securities within a few days.  By engaging in such misconduct, he generated $5,300 in commissions for himself while causing nearly $65,000 in losses to his customer. Continue reading →

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National Securities Corporation (NSC) located in Seattle, Washington submitted a Letter of Acceptance, Waiver and Consent to the Department of Enforcement of the Financial industry Regulatory Authority (FINRA) for allegedly failing to disclose to investors compensation they were receiving. NSC has been a registered FINRA member since 1947 and provides retail brokerage, investment banking and investment advisory services.

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