Finra fines Feltl and Company.
In January, 2016, the Financial Industry Regulatory Authority (“FINRA”) announced that Feltl and Company of Minneapolis, MN submitted an acceptance, waiver and consent letter regarding its failure to supervise its registered representatives in their trading of companies on the firm’s “watch list.” In agreeing to the AWC, the firm was fined $50,000.
FINRA’s allegations against Feltl and Company concerned the trading in a company that approached Feltl for assistance with a corporate merger. While Feltl placed the company on a watch list, FINRA contended that the firm did not properly supervise several registered representatives who traded shares of the company while corporate merger talks were underway. FINRA found that the firm failed to properly investigate the trading to ensure compliance with the securities laws.
Registration and disciplinary history
In order to lawfully sell investments to the public, a firm must either be registered or exempt from registration. Feltl and Company is an Minnesota corporation formed in 1975 and registered with FINRA, the SEC and in 51 states and territories.
According to FINRA’s CRD disclosure report, Feltl and Company has been the subject of one customer complaint and ten regulatory investigations.
The Law Office of David Liebrader practices exclusively in the field of investment loss recovery. For the past 23 years, we have dedicated our law practice to assisting investors who have been victims of investment fraud via fraudulent and unsuitable investment transactions. During that time we have recovered money for over one thousand individuals, pension plans, trusts and companies. The recoveries we have obtained via judgments, awards and settlements on behalf of our clients exceed $40,000,000.
When investors contact our firm they can expect prompt attention, and a detailed analysis of their issues. Typical claims that we are asked to review involve “unsuitability (where a financial advisor makes investment recommendations that are inconsistent with a customer’s investment objectives), claims for “churning” (where a broker enters into an excessive number of trades for the purpose of generating commissions), claims involving illiquid investments such as private placements (I.e., real estate investment trusts, limited partnerships, equipment leasing and oil and gas drilling programs) as well as claims for violations of state securities laws, which often provide investors remedies like attorney’s fees and interest, if they are successful on the claim.
If you suspect that you have been the victim of investment fraud, or had a financial advisor recommend unsuitable investments to you, call us today for a free, confidential consultation at (702) 380-3131.