FINRA案件：Hallmark Investments已被驱逐出欺诈，FSCESECITS必须支付59.2万美元，以支付交易所bob200体育交易的基金销售额

Investment Firm and Its CEO Are Expelled and Barred for Inflating the Price of Shares Before Selling Them
金融业监管机构已驱逐了Hallmark Investments，并禁止该公司首席执行官Steven G. Dash在bob200体育证券骗局这涉及以夸张的价格出售股票。根据自我调节组织的说法，Hallmark，Dash和公司代表Stephen P. Zipkin使用了外部经纪交易商，从事操纵性交易以及误解的贸易确认，将近40,000股股票卖给14股以欺诈性膨胀的价格的客户。Zipkin已被FINRA暂停了两年，他将不得不支付超过18,000美元的赔偿金。

据称，霍尔马克（Hallmark）采用了交易骗局，以每股3美元的价格出售他们拥有的雪崩股票。同时，雪崩的价格以每股2.05美元的公开发行价格出售，Hallmark以低至80美分/股的价格将其他雪崩股卖给了其他客户。此外，这家投资公司，Zipkin和Dash未能告诉客户Hallmark拥有他们购买的股票，或者标志着交易（或在公开市场上以更少的价格购买股票），即使它出售了股票）以较低的价格向他人分享。

FSC Securities To Pay Fine, Restitution to Investors Over Non-Traditional ETF Sales
In a deal with FINRA, FSC Securities Corp. will pay back clients over $492K for losses, as well as a $100K fine, to resolve the claim that the firm failed to properly supervise the sale of inverse and leveraged exchange-traded funds from 1/2009 through 9/2014. According to the self-regulatory organization, it was during this time period that its clients bought 6,500 ETF purchases worth about $92M in 1400 accounts. This generated about $603K in commissions.

When FINRA put out a warning about non-traditional ETFs that were being held for longer than a day, FSC ceased the sale of 3x leveraged ETFs during the latter part of 2009. However, it kept on selling 2x products and other products that weren’t as leveraged. Now, the SRO is saying that FSC neglected to put in place a system or process that would have monitored or assessed the holding period lengths. FINRA contends that FSC representatives made unsuitable ETF recommendations to customers, including to elderly clients and those who could only handle low risks or conservative investments, even though these ETF investments were risky.

The SRO said that even after the firm started monitoring holding periods in 2012, supervisors were not issued guidance on how to assess the risks involved in long-term holdings. Also, FSC purportedly let registered representatives recommend the ETFs to customers without putting into place a supervisory system that could make sure that these recommendations made sense for the clients. It wasn’t until October 2014 that FSC restricted the sale of all inverse and leveraged ETFs excepted in limited circumstances.

现在，该公司正在解决FINRA的指控，但并未否认或承认这些指控。

ETF欺诈定居点
In 2016, FINRA finedOppenheimer & CO. (OPY)$2.25M and ordered the firm to pay $716K in restitution over exchange-traded fund investments. The year before, LPL Financial (LPLA) consented to pay $1.66M in restitution and a $10M fine to ETF customers. Earlier this year, Morgan Stanley Smith Barney was fined $8M by the US Securities and Exchange Commission. The broker-dealer admitted wrongdoing in that it failed to make sure clients comprehended the risks involved with single inverse ETFs. In 2012, FINRA sanctioned parent company Morgan Stanley & Co. LLC (MS) over nontraditional ETF sales.

在SSEK Partners Group，我们与投资者合作，试图收回他们的ETF欺诈损失。Contact one of our exchange-traded fund fraud lawyers today.

FINRA针对Hallmark Investments的案件(PDF)

FSC偿还ETF投资者492K