NatAlliance Securities
March 2023- Austin, Texas
In a recent FINRA Letter of Acceptance Waiver and Consent, Austin-based NatAlliance Securities (CRD 39455) was censured and fined $40,000 for mismarking bonds and causing the firm to maintain inaccurate books and records.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
According to the FINRA AWC, from January 2019 through the present, NatAlliance failed to establish and maintain a supervisory system, including reasonable written supervisory procedures, designed to review trader’s end of day bond valuations. FINRA found that Jason Adams, Director of Trading at Natalliance, failed to supervise one of the NatAlliance traders by not responding to numerous red flags related to failure to making to market bonds on a daily basis.
In addition to the censure and $40,000 fine, NatAlliance is required to remedied their deficient supervisory procedures within 90 days of the AWC. Jason Adams is suspended in any principal capacity for 2 months beginning 4/17/2023 and fined $5,000.
NatAlliance discloses 7 other regulatory sanctions on their FINRA record, including:
- 4/13/2021-$80,000 fine, censure. Failed to exercise best judgement in determining the FMV of certain municipal bonds
NatAlliance has been a FINRA member since 1997 and employs 66 registered representatives in 13 branches.
If you have losses in an account at NatAlliance Securities contact us for a no charge consultation to learn how you may be able to recover damages through FINRA arbitration.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney, at no cost to you.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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