WARNING! Impending Investigation–H. BECK, LASALLE STREET SECURITIES and J.P. TURNER & CO.
H. Beck, LaSalle Street Securities, and J.P. Turner & Co.
FINRA recently brought regulatory actions against three member firms for their failure to supervise consolidated reports sent to clients. FINRA (the Financial Industry Regulatory Authority) brought claims against H. Beck, LaSalle Street Securities, and J.P. Turner & Company, alleging that they failed to properly supervise reports sent to clients that summarized all of their assets, not just assets held at the firm. FINRA had particular concerns that these reports have the potential to conceal fraudulent activity and could be an indication that the broker may be doing business away from the firm.
To settle these allegations, H. Beck agreed to pay a $425,000 fine, LaSalle Street Securities agreed to pay $175,000, and J.P. Turner & Company agreed to pay $100,000.
Our attorneys have represented over one thousand investors who have been defrauded by financial advisors and brokerage firms. While we have offices in Denver and the Seattle area, we have also previously represented clients throughout the country. If you have lost money with H. Beck, LaSalle Street Securities, or J.P. Turner & Company and want to hear about ALL legal options, please visit https://www.israelsneuman.com and go to our CONTACT page or call us at 720-599-3505.