March 2017- Dallas, TX
According to publicly available records First Dallas Securities Inc. (CRD# 24549) , a brokerage firm with about 24 brokers headquartered in Dallas, Texas, discloses a recent regulatory sanction.
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.
First Dallas Securities consented to the entry of findings that it improperly charged ticket charges in at least 449 transactions involving 129 accounts for clients of its affiliated registered investment advisor (RIA). FIrst Dallas did not have an adequate supervisory system to ensure that customers of its affiliated RIA were not overcharged, according to FINRA.
First Dallas Securities was censured and fined $45,000.
If you have questions about how your account has been handled at First Dallas Securities, call to discuss your options.
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.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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