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WARNING! Impending Investigation: BRUCE MEYERS and MEYERS ASSOCIATES, L.P.

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08
Jun

WARNING! Impending Investigation: BRUCE MEYERS and MEYERS ASSOCIATES, L.P.

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Israels & Neuman, PLC Investigates Allegations and Proceedings Brought by the Connecticut Banking Commissioner Against Meyers Associates, L.P. and Bruce Meyers.

 

Meyers Associates L.P. (CRD No. 34171) is a broker-dealer with its primary office located in New York, New York.  Bruce Meyers (CRD No. 1045447) is the Chief Executive Officer of Meyers Associates and the majority owner and previously acted as Meyers Associates, L.P.’s broker-dealer agent in the state of Connecticut.

 

On February 13, 2015, the Banking Commissioner, issued an Amended Order to Cease and Desist, Amended Notice of Intent to Revoke Registration as Broker-dealer, Amended and Restated Notice of Intent to Revoke Registration as a Broker-dealer Agent, Amended and Restated Notice of Intent to Fine and Notice of Right to Hearing (collectively “Amended Notice”) against Meyers Associates L.P. and Bruce Meyers.

 

The Commissioner’s Amended Notice alleges that Meyer’s Associates, LP: 1. failed to discipline its brokers following complaints; 2. failed to reasonably supervise its brokers, 3. sold unregistered securities to Connecticut residents; 4. failed to maintain books and records; 5. failed to provide books and records to the Banking Commissioner, 6. engaged in aiding and abetting by Bruce Meyers in providing material assistance in its brokers’ failure to provide books and records; 7. engaged in dishonest and unethical business practices; 8. failed to halt improper commission splitting; 9. making false or misleading statements of omissions; and 10. employed unregistered agents.

 

A consent order entered March 24, 2015 with both Meyers Associates, L.P. and Bruce Meyers. In addition to directing both to cease and desist from regulatory violations, the consent order required that the respondents pay a $50,000 fine to the department, suspended the firm’s Connecticut broker-dealer registration for 60 days, whereby suspension would remain in effect until the fine was paid in full. The order also required that Bruce Meyers withdraw his Connecticut registration as a broker-dealer agent of Meyers Associates, L.P., obligating Meyers Associates, L.P. to 1) retain an independent consultant to review the firm’s compliance procedures; and 2) notify the division within seven business days of any reportable disciplinary items. The consent order also restricted Meyer’s Connecticut business activity for three years to transactions in investment company securities; governmental securities; exchange-listed options; and securities listed on the New York Stock Exchange, the American Stock Exchange, the NASDAQ Global Select Market, the NASDAQ Global Market, and the NASDAQ Capital Market. During the three year period, the firm would be prohibited from selling in Connecticut securities listed or traded on the OTC bulletin board, or the OTC pink marketplace.

 

Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado and Seattle, Washington.  We represent investors in FINRA arbitration proceedings in all 50 states, including investors in the greater Connecticut area.  Our attorneys have represented over one thousand investors against many brokerage firms in the past, including LPL Financial, Merrill Lynch, Morgan Stanley, Smith Barney, Stifel Nicolaus & Company, UBS Financial Services, Oppenheimer, Charles Schwab, Wells Fargo Advisors, Ameriprise Financial Services, Raymond James Financial Services, ProEquities, Securities America, National Securities Corp., and many others.

 

If you invested with Meyers Associates, please Contact Us at 720-599-3505 for a free evaluation of your case.

 

Click to view:  Meyer Order

Click to view:  meyer amended notice

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.
10.0David P Neuman

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