January 9, 2015
Worth Financial Group entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that it failed to establish adequate supervisory systems and written supervisory procedures to supervise sales of life settlement investments by the firm’s registered representatives and non-associated individuals for whom the firm received override commissions.
FINRA alleged that from July 2008 to April 2011 Worth sold fractional interests in life settlements issued by Life Partners, Inc., and collected override commissions on those sales.
Worth Financial Group was censured and fined $10,000.
Worth Financial Group has been registered with FINRA since 1983 and is headquartered in Dallas, Texas.
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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