(720) 599-3505

WARNING! Impending Investigation: RAINMAKER SECURITIES LLC and PRIVATE PLACEMENTS

SEARCH OUR BLOGS
24
Jul

WARNING! Impending Investigation: RAINMAKER SECURITIES LLC and PRIVATE PLACEMENTS

Posted by admin | 0 Comment

Rainmaker Securities LLC and Private Placements

 

We are currently investigating allegations made against Rainmaker Securities, LLC, a Chicago, Illinois-based securities brokerage firm.  FINRA (the Financial Industry Regulatory Authority) filed a complaint against Rainmaker Securities and its President, Glen W. Anderson.  FINRA alleges that from 2011 to 2014, Rainmaker Securities and Glen Anderson failed to devote adequate time, attention, and resources towards compliance and supervision regarding the sales of private placements.  FINRA further alleges that Rainmaker lacked a “culture of compliance” and that it failed to maintain adequate supervisory systems to monitor its financial advisors.

 

According to FINRA’s complaint, Rainmaker securities failed to supervise the due diligence process with respect to a number of private placements that it sold, including Buttonwood Social Network Fund LLC, Eudora Global LLC, Incubation Factory Technology Fund LLC, and the Idea Fund LLC.  FINRA also alleged that Rainmaker’s representatives made improper general solicitations of private placements, in violation of Regulation D.  Additionally, FINRA alleged that Rainmaker’s representatives made exaggerated and misleading communications with respect to private placements and also failed to adequately document customer suitability information.

 

To settle these allegations, Rainmaker Securities paid a fine of $125,000, and Glen Anderson paid a $10,000 fine and agreed to a two-month suspension in a principal capacity.

 

Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado and the Seattle area.  We represent investors in FINRA arbitration proceedings in all 50 states, and we have previously represented investors throughout the Chicagoland 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 lost money in Buttonwood Social Network Fund, Eudora Global, Incubation Factory Technology Fund , or the Idea Fund from Rainmaker Securities or another firm, please Contact Us at 720-599-3505 for a free evaluation of your case.

 

Click to view:  Rainmaker FINRA AWC

Click to view:  Anderson, Glen Brokercheck 7.23.15 (1)

 

FREE CASE EVALUATION

DENVER: (720) 599-3505

SEATTLE: (206) 795-5798


Copyright © 2019 Israels Neuman, PLC. All Rights Reserved | Sitemap

Marketing Webmasters | Developed By TRIGUNS