FINRA Launches New Wave Of Private Placement Crackdowns


The latest round of enforcement will return $3.2 million to aggrieved clients and imposes some relatively minor fines on ten firms and eight individuals who sold them.


Securities America, which has already suffered through massive arbitration of client claims related to its private placement sales, fared worst with a $250,000 fine.


FINRA warns that it continues to look closely at private placement sales, especially when firms fail to show that they're exercising proper due diligence into these securities before selling them.


This Website Is For Financial Professionals Only