A National Securities Arbitration & Investment Fraud Law Firm
Spartan Securities Group (SSG) is a privately-held full-service investment banking firm that serves publicly traded companies. Endeavour Cooperative Partners, LLC (ECP) is the majority owner of SSG. According to ECP’s website, SSG provides financial solutions and advice regarding capital information, corporate finance, institutional sales and trading, and brokerage services for shareholders of emerging growth companies. SSG was formed in 2000 and is headquartered in Clearwater, Florida.
Spartan Securities Fined for Failing to SuperviseSpartan Securities submitted a letter of Acceptance Waiver and Consent to FINRA consenting to censure and fine of $25,000 for failing to review certain employees’ electronic communications as part of its supervisory process and failed to maintain evidence of supervisory reviews of these emails. The firm also failed to create memoranda for 11 brokerage orders. These failures are violations of securities rules.
Numerous Violations Found by FINRA in 2010 and 2011In June 2014, SSG submitted a letter of Acceptance Waiver and Consent to FINRA consenting to censure and fine of $95,000 plus restitution to customers for various violations found during two review periods by FINRA. Among the violations were failure to execute customer limit orders, failure to use reasonable diligence to ascertain the best inter-dealer market, incorrect reporting of information, inaccurate, incomplete or improper transmittal of data, failure to disclose correct markup/markdown on customer confirmations and failure to establish and maintain an adequate supervisory system.
Spartan Repeatedly Fined for Supervisory FailuresSPG was censured and fined $52,500 in 2012 for violations of FINRA rules including reporting violations, failing to disclose reported prices and markup/markdown on customer confirmations, failure to supervise in order handling, best execution, anti-intimidation/coordination, trade reporting, sales transactions among others things. Additionally, part of the sanctions required the firm to revise its written supervisory procedures in regards to these violations.
In 2009, the firm agreed to an AWC with censure and fines of $31,000 for various trade reporting violations.
Silver Law GroupSilver Law Group is a nationally recognized securities and investment fraud law firm with Martindale-Hubbell® Peer Review Ratings™ “AV” rated lawyers that handle all securities arbitration matters on a contingency fee basis. The Law Firm, at no cost to investors will review account activity and account statements to determine whether there was any misconduct, whether there are damages and the legal causes of action. We investigate all sales practice violations, while taking into consideration the investor’s age, investment background, and the relationship between the investor and the brokerage firm and its financial advisor. According to securities industry rules and regulations, unsuitable investment advice, securities concentration, fraudulent misrepresentations and omissions of material facts, breach of fiduciary duty, conflicts of interest, variable annuity switching are among the causes of action that may be available to investors in claims for damages against brokerage firms and their financial advisors in a securities arbitration claim filed with the Financial Industry Regulatory Authority (FINRA). We represent investors in FINRA arbitration claims on a contingency fee basis.
To learn more call us at (954) 755-4799 or Toll Free at (800) 975-4345