According to H.D. Vest Investment Securities’ Letter of Acceptance, Waiver and Consent (“AWC”) with FINRA, the firm consented to a $100,000 fine for failing to implement certain surveillance procedures and violating various disclosure rules. AWC 2014039092201 detailed the following alleged violations: 1.) late and/or inaccurate Form U4 filings, 2.) failure to accurately and/or timely report customer complaints, 3.) failure to adequately supervise variable annuity transactions, and 4.) failure to implement surveillance process to review for inappropriate rates of variable annuity exchange transactions.
The firm’s FINRA Broker Check report reveals that H.D. Vest has been the subject of thirteen regulatory actions from 1995 to 2016 resulting in fines and restitution. Also H.D. Vest has been the subject of four arbitration proceedings leading to fines based on allegations of unsuitability and a failure to supervise.
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.
