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Delaney Equity Group Fined/Sanctioned by FINRA-Palm Beach Gardens, FL

Delaney Equity Group Fined/Sanctioned by FINRA-Palm Beach Gardens, FL

Delaney Equity Group Fined/Sanctioned by FINRA-Palm Beach Gardens, FL 150 150 Rex Securities Law

Palm Beach Gardens, FL

The Financial Industry Regulatory Authority (FINRA) is the largest independent regulator for all securities firms doing business in the United States. FINRA’s chief role is to protect investors by maintaining the fairness of the U.S. capital markets.

All stockbrokers and broker dealers (brokerage firms) are required to be licensed by and subject to the rules and regulations of FINRA. Each month FINRA publishes disciplinary actions against brokers and broker dealers. Discipline can range from monetary fines and suspensions, or in extreme cases, revocation of licensing and a bar from the securities industry.

See the FINRA website for current and historical disciplinary actions as well as the complete FINRA report on Delaney Equity Group LLC.

October 2013 
 

 Delaney Equity Group, LLC (CRD® #142285, Palm Beach Gardens, Florida) and David Cameron Delaney (CRD #2447186, Registered Principal, West Palm Beach, Florida) submitted an Offer of Settlement in which the firm was censured and fined $215,000.

 Without admitting or denying the allegations, the firm and Delaney consented to the described sanctions and to the entry of findings that the firm, acting through Delaney, its president, chief compliance officer (CCO) and anti-money laundering compliance officer (AMLCO), allowed a customer and its numerous affiliated accounts to sell almost a billion newly issued, unregistered equity shares of some issuers. As a result, the firm and Delaney participated in the distribution of almost a billion shares of unregistered and non-exempt securities. The findings stated that the firm, acting through Delaney, failed to establish, maintain and enforce a supervisory system, including written supervisory procedures (WSPs), reasonably designed to ensure compliance with Section 5 of the Securities Act of 1933 and applicable rules and regulations with respect to the distribution of unregistered and non-exempt securities. The findings also stated that the firm, acting through Delaney, failed to abide  by the terms of its membership agreement by failing to enforce its WSPs for supervising individuals with prior disciplinary disclosures at a heightened level.

 The suspension in any capacity is in effect from September 16, 2013, through November 15, 2013. The suspension in any principal capacity will be in effect from November 16, 2013, through December 15, 2014. (FINRA Case #2010021108301 )

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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