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NEXT Financial and Broker Pay $140,000 Settlement to New Hampshire Securities Regulators

NEXT Financial and Broker Pay $140,000 Settlement to New Hampshire Securities Regulators

NEXT Financial and Broker Pay $140,000 Settlement to New Hampshire Securities Regulators 150 150 Rex Securities Law

 

May 12, 2014) – The New Hampshire Bureau of SecuritiesRegulation has finalized a Consent Order with NEXT Financial Group, Inc. and Charles C. Kulch, a broker for NEXT Financial  in Nashua. The Order states that Kulch, through his company Kulch Financial Services, Inc., mailed seminar invitations to New Hampshire residents from December 2010 to December 2011 that contained inaccurate information.

The investigation by the Bureau that led to the Consent Order revealed that mailers disseminated on behalf of Kulch Financial were not properly reviewed for errors or omissions. Instead, NEXT approved the inaccurate mailers. In addition, Kulch failed to supervise his staff in connection with the mailers at issue. As a result, mailers went out incorrectly listing two designations that neither Kulch nor Kulch Financial Services possessed.

“Direct mail marketing can be a legitimate and effective way for brokers to solicit new clients,” said Adrian LaRochelle, Bureau Staff Attorney. “However, brokers and their firms are obliged to properly supervise such campaigns to ensure that New Hampshire investors are getting accurate information.”

The Bureau of Securities Regulation is charged with protecting New Hampshire investors. As part of this charge and to educate and warn the public, the Bureau issues public announcements regarding certain enforcement cases, such as this one.

If you have a question about the way your brokerage account is being handled or about how to recover investment losses through FINRA arbitration, call to speak with an experienced securities attorney.

If you have losses in an account handled by Charles Kulch , contact us to learn how you may be able to recover damages from his employer.

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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Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

 

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