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Center Street Latest Broker-Dealer Fined by FINRA for Improper GPB Private...

The Financial Industry Regulatory Authority fined Center Street Securities Inc. after the broker-dealer supposedly failed to inform 20 investors in offerings related to GPB...

FINRA Fines Another Broker-Dealer for Improper GPB Private Placement Sales

The Financial Industry Regulatory Authority fined Moloney Securities Co. Inc. after the broker-dealer supposedly failed to inform 37 investors in offerings related to GPB...

FINRA Fines Broker-Dealer for Improper GPB Private Placement Sales

The Financial Industry Regulatory Authority fined Coastal Equities Inc. earlier this month after the company allegedly failed to properly supervise a registered representative who...

FINRA’s National Adjudicatory Council Revises Sanction Guidelines

The Financial Industry Regulatory Authority announced that the National Adjudicatory Council has updated the organization’s sanction guidelines to, among other things, increase the lower...

FINRA Permanently Bars Morgan Stanley Broker

The Financial Industry Regulatory Authority has permanently barred Doug M. McKelvey from the securities industry for refusing to provide information and documents requested by...

FINRA Fines Another Broker-Dealer over GPB Private Placement Sales

The Financial Industry Regulatory Authority has fined broker-dealer, Sanctuary Securities Inc., formerly known as David A. Noyes & Company, $60,000 over sales of GPB...

FINRA Fines Broker-Dealer over GPB Fund Sales

The Financial Industry Regulatory Authority has fined broker-dealer, Capital Investment Group Inc., $50,000 over sales of GPB Automotive Portfolio LP and GPB Holdings II...

FINRA Fines United Planners over GPB Fund Sales

The Financial Industry Regulatory Authority has fined broker-dealer, United Planners' Financial Services of America, $40,000 over sales of GPB Holdings II LP, a private...

FINRA Orders National Securities to Pay $9 Million for Multiple Violations,...

The Financial Industry Regulatory Authority has sanctioned broker-dealer National Securities Corporation approximately $9 million, including disgorgement of $4.8 million in net profits received for...

FINRA Fines Broker-Dealer $45,000 over GPB Private Placement Sales

The Financial Industry Regulatory Authority has fined IBN Financial Services $45,0000 over sales of GPB Capital private placement securities, according to a settlement letter...

Geneos to Pay $400,000 to Settle FINRA Charges Involving GPB and...

The Financial Industry Regulatory Authority has fined Geneos Wealth Management $150,000 for failing to reasonably supervise its representatives’ recommendations of an alternative mutual fund...

FINRA Fines Two Broker-Dealers $115,000 over GPB Private Placement Sales

The Financial Industry Regulatory Authority has fined two broker-dealers, Dempsey Lord Smith LLC and BD4RIA Inc., which sold GPB Capital private placement securities, according...

Former GPB Capital CEO Pleads Not Guilty in $1.8 Billion Fraud...

David Gentile, the owner and now former chief executive officer of New York-based GPB Capital Holdings, pled not guilty to fraud and conspiracy charges...

NASAA Details State Enforcement Actions Against GPB Capital

The North American Securities Administrators Association (NASAA) has reported that seven state securities agencies have filed regulatory actions against New York-based investment adviser GPB...

SEC Charges GPB With Running “Ponzi-Like Scheme,” Violating Whistleblower Laws

The Securities and Exchange Commission has charged three GPB Capital executives and their affiliated entities with running a “Ponzi-like scheme” that raised more than...

Former SEC Examiner/GPB Executive Pleads Guilty to Misdemeanor Theft of Government...

Michael Cohn, a former Securities and Exchange Commission examiner who was hired as managing director and chief compliance officer at GPB Capital Holdings in...

Massachusetts Securities Division Charges GPB for Allegedly Defrauding Investors

The Massachusetts Securities Division has charged GPB Capital Holdings with allegedly violating state securities laws, after an investigation found that the company purportedly issued...

GPB Audit Committee Resigns Further Delaying Funds’ Audited Financial Release

Investors in two funds sponsored by GPB Capital, a New York-based alternative asset management firm, were informed last week that the firm will miss...

Ladenburg Discloses Complaints Against Subsidiary Broker-Dealer Over GPB Sales

Ladenburg Thalmann Financial Services (NYSE: LTS), a publicly traded financial services firm, disclosed in its quarterly financial report that multiple arbitration claims and one...

Class Action Alleges GPB Operated as a Ponzi Scheme

A class action lawsuit was filed in a Texas federal court against GPB Capital Holdings, its affiliates, company executives, and the broker-dealers that purportedly...