A National Securities Arbitration & Investment Fraud Law Firm
Silver Law Group is investigating Wilmington, Delaware-based Coastal Equities, Inc. (CRD# 23769) broker Luke Johnson (CRD# 461987) for unsuitable recommendations in non-traded REITs, annuities and other illiquid investments. In August 2017, a Coastal Equities customer filed a FINRA arbitration alleging that Johnson recommended unsuitable securities purchased in approximately 2015. The…
Centaurus Financial has been the recipient of multiple FINRA actions, including 11 regulatory events and 8 reported arbitration claims. Not all of these are major issues, but they could be relevant to an investor doing business with Centaurus. The SEC has strict rules about how a broker-dealer operates, runs their…
The Parking REIT recently announced that the board unanimously approved the suspension of all cash distributions and stock dividends, effective March 22, 2018. Their press release states, ”The Board is focused on preserving capital in order to maintain sufficient liquidity to continue to operate the business and maintain compliance with…
Silver Law Group is investigating Kingwood, Texas-based brokerage firm D.H. Hill Securities, LLLP (CRD# 41528) (“D.H. Hill”) after FINRA sanctioned the firm for its conduct concerning the firm’s role as underwriter of a real estate investment trust (“REIT”). D.H. Hill Securities Enters into a Settlement with FINRA D.H. Hill entered…
Silver Law Group is investigating Houston, Texas-based IMS Securities Inc. (CRD# 35567) broker Michael J. Spears (CRD# 4501523) after two (2) customers filed complaints against Spears regarding non-traded REITs. According to Spears’ FINRA BrokerCheck report, two customers filed complaints against Spears in 2016. The first, in August 2016, alleges negligence,…
Cetera Financial Group subsidiary VSR Financial Services, Inc. (CRD# 14503) is winding down and transferring some of its brokers to other Cetera Financial Group broker-dealers. VSR is one of Cetera Financial Group’s (“Cetera”) many independent brokerage firms. Cetera was acquired by Nicholas “Nick” Schorsch’s RCS Capital in 2014 in an…
Learn the details about this vehicle, and why it may be an unsuitable investment REITs, or real estate investment trusts, are companies that own real estate-related assets. These may include office parks, hotels, homes, or even related debt like mortgages. REITs are an attractive investment because they can often provide…
On February 18, 2016, the FBI raided the headquarters of UDF, the manager of a family of real estate investment trusts (“REITs”) and other funds, sending shares of UDF’s largest fund, United Development Funding IV (“UDF IV”), tumbling 54% before NASDAQ halted trading, according to InvestmentNews. The FBI raid is…
The Financial Industry Regulatory Authority (FINRA) has recently sponsored a new securities industry rule that makes the information included on customer account statements more transparent. Transparent commissions will likely lower the total up-front commissions a broker can collect on certain popular securities as investors realize the steep fees they are…