Investors Capital Corp. Fined By FINRA Over Exchange Traded Fund (ETF) Sales

Investors Capital Corp. Fined By FINRA Over Exchange Traded Fund (ETF) Sales 150 150 Rex Securities Law


Investors Capital Corp.  submitted a Letter of  Acceptance, Waiver and Consent in which the firm was censured and fined $100,000 by the Financial Industry Regulatory Authority (FINRA).  Without admitting or denying the findings, the firm consented to the sanctions and  to the entry of findings that it failed to ensure delivery of exchange-traded fund (ETF)  prospectuses to customers in contravention of Section 5(b)(2) of the Securities Act of  1933.
The findings stated that the firm failed to establish an adequate supervisory system,  including written supervisory procedures, concerning the sale of ETFs and the firm’s obligations to provide ETF  prospectuses to customers. The firm did not have any procedures directly concerning the  sale of ETFs or its obligations to provide ETF prospectuses to customers and permitted  representatives to sell ETFs before completing any firm-mandated training. (FINRA Case #2011025319501)
If you have losses on exchange traded funds purchased from Investors Capital Corp. contact us to discuss your legal rights.

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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