Boca Raton Based VFinance Investments Fined by Regulators

Boca Raton Based VFinance Investments Fined by Regulators 150 150 Rex Securities Law

VFinance Investments, Inc. ,was censured and fined $65,000 by FINRA in March 2013 in connection with the sale of nearly $6 million dollars worth of convertible notes in a private placement for a company that was on the firm’s restricted list.

In addition, FINRA alleged that:

  • the firm did not adequately supervise the purchases of stocks on the restricted list
  • the firm authorized purchases of the issuer by customers without conducting an adequate inquiry into the facts and circumstances surrounding those purchases
  • the firm failed to disclose involvement of a statutorily disqualified person who worked with the firm in connection with the private placement
  • the firm should have been on heightened awareness of its obligations to supervise the use of external email accounts and failed to adequately supervise employee’s outside email accounts.

According to FINRA records, VFinance is licensed to sell securities in 53 states and territories and conducts 13 types of business including the sale of private placements.

Investors who have suffered losses may be able to recover all or a part of those losses through FINRA arbitration.

Rex Securities Law , located in Boca Raton, FL, 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.

Rex Securities Law

561 391 1900

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