June 25, 2015
Ascendiant Capital Markets entered into an Order Accepting Offer of Settlement (Order) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that the company violated FINRA By-Laws, Article V, Section 2 and FINRA Rule 2010, by failing to update the FINRA records of two registered representatives to reflect “Wells” notices that they were the subject of regulatory investigations.
The Order also alleges that Ascendiant failed to update FINRA records to reflect that one of the registered representatives was the subject of an IRS lien for $247,000, and to reflect the fact that one representative was the subject of a customer complaint.
Ascendiant Capital was censured and fined $20,000.
Disciplinary Proceeding No. 2010023220507
Ascendiant Capital has been a FINRA member since 2011. They are headquartered in Irvine, California and have five branches, including New York City and Palm Beach Gardens, Florida.
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.
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