Hancock Whitney Investment Services- Fined $2.4M – Regulator Alleges Conflict of Interest

Hancock Whitney Investment Services- Fined $2.4M – Regulator Alleges Conflict of Interest

Hancock Whitney Investment Services- Fined $2.4M – Regulator Alleges Conflict of Interest 150 150 Rex Securities Law

Hancock Whitney Investment Services Investigation

November 2021

Hancock Whitney Investment Services was fined and ordered to pay disgorgement and restitution over $2.4 million dollars by regulators for conflicts of interest related to sales of mutual funds for deficiencies with the firm’s email system. Follow this link to review their official FINRA record. 

In 9/2020 U S Securities and Exchange Commission (SEC) assessed alleged that Hancock Whitney violated securities laws and breached its fiduciary duty to customers by collecting excess fees on sales of certain mutual funds. The company was censured, ordered to cease and desist from future violations and ordered to pay disgorgement, interest and a civil penalty totaling $2,337,792.

In 1/2018 FINRA  assessed a monetary fine against Hancock Whitney Investment Services of $100,000 to resolve allegations that the company failed to preserve emails in a manner that complied with applicable securities laws. FINRA Case 2016049304801. 

Hancock Whitney Investment Services

Hancock Whitney Bank was formed over a century ago and has a service area covering Mississippi, Louisiana, Alabama, Florida and Texas, according to the firm’s website. Hancock Whitney Investment Services, Inc. is a registered broker dealer, member of FINRA and a Registered Investment Advisor and a wholly owned subsidiary of Hancock Whitney Corporation.

Northstar Financial (Bermuda)

Recently a broker in Hancock Whitney’s Covington, LA, office disclosed a pending customer arbitration seeking millions in damages as a result of a recommendation to purchase a Northstar Financial annuity. See this for more details. 

If you have questions about an account with Hancock Whitney Investment Services call for a no charge consultation to discuss your options.

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

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