The Financial Industry Regulatory Authority (FINRA) is the largest independent regulator for all securities firms doing business in the United States. FINRA’s chief role is to protect investors by maintaining the fairness of the U.S. capital markets.
All stockbrokers and broker dealers (brokerage firms) are required to be licensed by and subject to the rules and regulations of FINRA. Each month FINRA publishes disciplinary actions against brokers and broker dealers. Discipline can range from monetary fines and suspensions, or in extreme cases, revocation of licensing and a bar from the securities industry.
See the FINRA website for current and historical disciplinary actions.
Kimberly Ann Springsteen-Abbott (CRD #1367633, Registered Principal, Holiday, Florida) was named a respondent in a FINRA complaint alleging that she directed the misuse of investor funds to pay for various credit card charges that were not related to legitimate business purposes of the funds, which totaled at least $344,798.79. The complaint alleges that the charges relating to the misused investor funds consisted of personal expenses for Springsteen-Abbott and another individual. Some of the charges have been refunded. The complaint also alleges that in connection with a FINRA examination, Springsteen-Abbott and her member firm provided a false and back-dated document in connection with the documentation provided regarding the credit card charges. By creating the false and backdated documentation, Springsteen-Abbott caused her firm to maintain inaccurate books and records. (FINRA Case #2011025675501)
According to FINRA records, Springsteen-Abbott is currently registered with Commonwealth Capital Securities, Corp. since 4/25/1997.
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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