In March 2014 FINRA fined Great Nation Investment Corporation $20,000 and registered principal Byron Pat Treat of Amarillo, Texas, $5,000 in connection with the sale of church bonds. The findings state that the firm’s supervisory procedures were inadequate to ensure compliance with the terms of the prospectuses for contingent offerings of church bond securities.
In addition the findings state that the firm did not have any procedures in place that required review of escrow account statements to ensure that investor funds were being handled in accordance with the terms of offering prospectuses. The findings also state that while acting in an agency capacity, the firm failed to disclose commissions of about $42,000 that were charged to customers on confirmations.
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.
Rex Securities Law
Florida-561 391 1900