Accelerated Capital Group fined $32,000 by FINRA for supervisory lapses.
In January, 2014, the Financial Industry Regulatory Authority (“FINRA”) announced that Accelerated Capital Group, Inc. of Irvine, California submitted an acceptance, waiver and consent letter regarding supervisory lapses in its securities business. In agreeing to the AWC, the firm was fined $32,000. The AWC can be found here.
FINRA’s allegations against ACG included that the firm had allowed registered representatives to place misleading information on websites that fell within the supervisory responsibility of the firm. These reps placed misleading testimonials on the website, and also represented that the firm had worldwide offices, when that was not the case.
FINRA also found that the firm made exaggerated and unwarranted performance predictions in PowerPoint presentations used by the firm’s representatives to sell shares in the private placements of Castle Arch Opportunity Partners and Clear Peak Energy.
Accelerated Capital Group’s registration and disciplinary history
In order to lawfully sell investments to the public, a firm must either be registered or exempt from registration. ACG is a California corporation formed in 1996, and is registered with FINRA, the SEC, and in 33 states and territories.
According to FINRA’s CRD disclosure report, Accelerated Capital Group has been the subject of one regulatory investigation.
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.
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