WARNING! Impending Investigation: NORTHEAST SECURITIES – Mitchelfield, NY
Northeast Securities, LLC Fined for Failing to Adequately Supervise Outside Brokerage Accounts
We are currently investigating allegations made against Northeast Securities, LLC, a Mitchelfield, New York-based securities brokerage firm. FINRA (the Financial Industry Regulatory Authority) brought a regulatory action against Northeast Securities, alleging that it failed to reasonably supervise the outside brokerage accounts of its representatives. FINRA alleged that the firm failed to request and obtain duplicate account statements for approximately 75% of outside accounts disclosed by representatives.
FINRA also alleged that Northeast Securities failed to maintain adequate procedures to review emails. To settle these allegations, Northeast Securities agreed to pay a $50,000 fine and to adopt revised procedures to correct these issues.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Seattle, Washington; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in New York. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
Click to view: Northeast Securities FINRA AWC
If you have lost money with Northeast Securities and want to hear about ALL legal options, please visit https://www.israelsneuman.com/ or CONTACT US at 720-599-3505.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.