Berthel Fisher Fined $775,000 by FINRA for Sale of Oil & Gas Investments and Other Alternative Investments

Berthel Fisher Fined $775,000 by FINRA for Sale of Oil & Gas Investments and Other Alternative Investments 150 150 Rex Securities Law

In February 2014, the Industry Regulatory Authority (FINRA) fined Berthel Fisher & Company Financial Services and its affiliate, Securities Management & Research of Marion, Ohio, $775,000 for supervisory deficiencies, including Berthel Fisher’s failure to supervise the sale of alternative investments, including:

  • non-traded real estate investment trusts (REITs)
  • leveraged and inverse exchange traded funds (ETFs)
  • managed futures
  • oil and gas programs
  • equipment leasing programs
  • business development companies
FINRA found that from January 2008 to December 2012, Berthel Fisher had inadequate supervisory systems and written supervisory procedures for the sales of alternative investments .
It was also found that some investors were sold these investments in too high a level of concentration making them unsuitable.
Follow this to read FINRA’s February 24, 2014, press release on this sanction of Berthel Fisher.
March 2014– Rex Securities Law files FINRA arbitration vs. Berthel Fisher seeking damages related to sale of alternative investments to retired single lady from St. Paul, MN.
If you have losses on alternative investments, including oil and gas investments,  purchased from Berthel Fisher, you may be able to recover all or a part of those losses. Call us to discuss your legal rights with an experienced securities attorney.

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 



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