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Investors Capital Corp. Censured, Fined $250,000, and Ordered to Pay Restitution of $841,000

By November 15, 2016September 20th, 2017News

According to its Letter of Acceptance, Waiver and Consent (“AWC”) with FINRA, Investors Capital Corporation assented to censorship, a $250,000 fine, and ordered to pay restitution in excess of $841,000.  Per AWC 2013035035901, Investors Capital Corporation recommended unsuitable investments in Unit Investment Trusts and Steepener Notes for seventy-four customers.  These are long-term investments and two of the register agents effected a total of 971 trades to generate fees for Investors Capital Corporation.  Further, the firm failed to provide customers with fee discounts on Unit Investment Trusts and overall failed to supervise the Unit Investment Trust and Steepener Note transactions.

Per its FINRA BrokerCheck report, Investors Capital Corporation has been subject to 21 regulatory actions and 14 arbitration decisions.  Most of the complaints consist of unsuitability and failure to supervise claims.

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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