August 12, 2015- Dallas, Texas
VCA Securities (formerly Bluffview Securities) , entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that from January 2012 to June 2014 VCA failed to have an adequate supervisory system and control procedures designed to review and monitor the transmittal of funds from customer accounts to third party accounts.
As a result, FINRA found that VCA processed two unauthorized Letters of Authorization sent from a cyber-hacker resulting in over $250,000 in wire transfers from a VCA customer account to an unauthorized their party bank account.
AWC No. 2014042049901
VCA Securities was censured and fined $35,000 .
VCA Securities has been a FINRA member since 2004, , and has 13 brokers. VCA is headquartered in Dallas Texas.
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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