December 1, 2014- Boca Raton, FL
Newbridge Securities Corporation entered into an agreement with the Financial Industry Regulatory Authority (FINRA) to resolve multiple compliance matters related to corporate bond transactions and customer trading activity. Case 20090198779-01.
As is typically the case, Newbridge neither admits or denies the facts and agreed to the following:
- A fine of $138,000
- An undertaking to revise the firm’s written supervisory procedures
FINRA found that Newbridge had violated various rules in connection with numerous transactions, including the following:
- In 31 transactions in 2009, the firm bought and sold corporate bonds to and from customers at a price that was not fair.
- The firm’s supervisory system did not provide for supervision reasonably designed to achieve compliance with applicable securities laws and regulations, concerning bond transactions with customers.
- In 50 instances in 2010, Newbridge failed to execute orders fully and promptly and in 18 of those transactions Newbridge failed to use reasonable diligence to obtain the best price for the customer.
- Newbridge , on 63 occasions, provided written information to customers that failed to disclose information or disclosed inaccurate information.
Newbridge Securities Corporation is based in Ft. Lauderdale , FL and according to the firm website, has branch offices located in:
- Scottsdale, AZ
- Boca Raton, FL
- Coral Springs, FL
- Chicago, Illinois
- Matawan, NJ
- Woodbury, NJ
- New York City
If you have an account with Newbridge Securities that has suffered losses that you believe are the result of negligence or fraud , contact us to learn about your options.
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.
561 391 1900