Comprehensive Asset Management and Servicing Agrees to FINRA Fine

By December 14, 2015 September 20th, 2017 News

According to a Letter of Acceptance, Waiver, and Consent (“AWC”) with FINRA, Comprehensive Asset Management and Servicing (“CAMS”) consented to a public censure and a fine of $475,000.

The AWC related to FINRA’s claims that CAMS failed to reasonably supervise its representatives’ sale of variable annuities and distribution of consolidated reports. FINRA also alleged that CAMS failed to reasonably supervise email communications and private securities transactions. FINRA alleged that CAMS’s conduct violated various FINRA rules.

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As explained by FINRA, a “consolidated report” is a document provided by a registered representative to a customer that combines account information regarding most or all of a customer’s assets.

Fishman Haygood represents investors who have suffered investment losses in claims against their brokers or financial advisors. Our experienced attorneys have brought securities fraud cases in state and federal courts across the nation, as well as in FINRA arbitration. We work to help investors recoup their losses.

Of course, all cases are different. For that reason, we analyze each client’s matter individually and provide our personalized evaluation only after considering all of the facts and circumstances of all possible claims. If you or someone you know is the victim of securities fraud, please contact a Fishman Haygood lawyer today.

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