March 6, 2015
Vanguard Marketing Corporation entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that between January 2011 through December 2013, they failed to establish procedures to ensure that it disclosed unsatisfied judgments and liens of its brokers, in instances where it had received notice of such liens and judgments in violation of FINRA rules.
In total, during the relevant period Vanguard received 80 garnishment orders that triggered reportable events.
Vanguard was censured, fined $350,000 and agreed to hire a consultant to review and suggest revisions to it policies and procedures.
FINRA Case # 2013038325801
Vanguard Marketing Corporation has been a member of FINRA since 1977, is a subsidiary of The Vanguard Group. They have about 6,000 registered brokers operating from 12 branch offices.
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.
Florida-561 391 1900