公司支付300万美元的不合适的IPath S＆P 500 VIX短期期货ETN销售|SSEK法律

据称，散户投资者被告知持有交易所交易的产品太长

In separate settlements reached with the US Securities and Exchange Commission (SEC), Royal Alliance Associates, Securities America Advisors, Summit Financial Group, Benjamin F. Edwards & Co., and American Portfolio Financial Services / American Portfolio Advisers will pay over $3M in penalties and restitution for their allegedly unsuitable sales of exchange-traded products (ETPs) to customers between January 2016 and April 2020. The firms did not deny or admit to the findings.

所有受访者都推荐并出售IPath S＆P 500 VIX短期期货ETN（VXX），，，，which utilize short-terms futures contracts https://www.investopedia.com/articles/investing/080715/etf-analysis-ipath-sp-500-vix-futures-vxx.aspto try tracking the S&P 500 Index’s implied volatility. It also is considered one of the largest and most volatile ETPs and among the worst-performing from last year.

这些SEC案件涉及的其他ETP是Proshares VIX短期期货ETF（VIXY），该期货由本杰明·爱德华兹和美国证券顾问出售。bob200体育后者还出售了VelocityShares每日反VIX短期ETN和ProShares VIX短期期货ETF（“ Vixy”）。

交易所交易的产品风险：投资者应意识到什么

交易所交易的产品可能非常波动。问题所讨论的ETP的发行文件清楚地解释说，由于这些是短期产品，因此在持有太长时间时它们的价值可能会降低。

Yet, contends the Commission, registered representatives from all of the firms not only recommended that customers and clients buy the exchange-traded products but also advised that they hold them for an extended length, sometimes for up to months or years. The SEC also found that none of the firms had put into place or implemented policies and procedures related to the suitability of volatility-linked ETPs.

Investors Will Get Some Restitution

美国投资组合金融服务，，，，along with American Portfolio Advisors, consented to pay a $650K penalty. The SEC found that they did not充分监督他们的注册代表参与了ETP销售。这些公司将另外支付2500美元的垃圾和审判利息。

本杰明·爱德华兹（Benjamin F. Edwards）还被命令支付65万美元。它与前判断利息的差异约为35,000美元。

Summit Financial and bob200体育Securities America每人罚款60万美元。至少有92个客户帐户拥有IPath S＆P 500 VIX短期期货ETN几个月或更长时间。这些帐户中有91个遭受了重大投资损失。disgorgement加上峰会客户的审判利息约为3700美元。

At Securities America, about 156 customer accounts sustained substantial losses from exchange-traded products during the period at issue. Disgorgement with prejudgment interest for the firm is $3,776.82.

Royal Alliance’s civil penalty was $500K. At least 108 Royal Alliance Customer accounts lost money from holding iPath S&P 500 VIX Short–Term Futures ETNs for months or even years.

违反信托义务

经纪交易商和投资顾问应始终以客户的最大利益行动。这仅包括推荐适合其的产品，交易和投资策略。不这样做是breach of fiduciary duty。

ETP投资欺诈律师

Shepherd Smith Edwards和Kantas（SSEK律师事务所investorlawyers.com）一直在与全美的投资者交谈，他们在IPATH S＆P 500 VIX短期期货ETN，Proshares VIX短期期货ETF，VelocityShares每日逆VIX短期ETN或VIX短期期货ETF中遭受了巨大损失。

We can determine ifmisrepresentations or omissions由您的经纪人或投资顾问制作，以及不合适的因素。

Even when a regulator gets involved, your best bet as an investor for recovering most or all of your losses is to work with experienced exchange-traded product fraud attorneys. Call SSEK Law Firm at（800）259-9010并要求您免费的无义务案件咨询。