Brokerage firm J.P. Turner & Company, LLC (“Turner”) has accepted a $525,000 fine from FINRA relating to allegations that it failed to properly supervise its brokers.
According to the Letter of Acceptance, Waiver and Consent that Turner entered into with FINRA, “From January 2008 through August 2009, [Turner] failed to establish and maintain a supervisory system reasonably designed to monitor transactions in leveraged, inverse, and inverse-leveraged Exchanged-Traded Funds (“Non-Traditional ETFs”) . . . In addition, the Firm violated [FINRA rules], through certain of its registered representatives, by making unsuitable recommendations of Non-Traditional ETFs to its customers.”
Turner has been a FINRA member firm since 1997 and has its principal office in Atlanta, Georgia.
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.
