Securities Lawyers Blog
Elder financial abuse, unauthorized trading, churning, and broker theft are among the most serious forms of broker misconduct, and they can occur at brokerage firms of every size. The investor attorneys at Gana Weinstein LLP represent individuals and families who have suffered investment losses because of a dishonest or negligent financial advisor, including customers of firms such as Banyan Securities, LLC. We review account activity, identify misconduct, and bring FINRA arbitration claims to recover what was lost.
Banyan Securities is a broker-dealer that handles retail brokerage of over-the-counter equities, corporate debt, United States government securities and options, along with proprietary trading, with clearing and custody provided by National Financial Services. Formed as a California limited liability company in 1996, the firm is based in Larkspur, California, and is a member of NYSE Arca and Nasdaq.
Banyan Securities, LLC – By the Numbers:
- CRD #: 22395
- Regulatory Events: 6
- Broker Employees: 5
Banyan Securities, LLC – In the News:
FINRA v. Banyan Securities, LLC (Case #2022073318201) – Banyan failed to conduct any independent testing of its AML program in any calendar year from at least 2018 through the present, and its written AML program did not include any procedures providing for independent testing for compliance from February 2022 through the present, in violation of FINRA Rules 3310(c) and 2010. For these violations, Banyan consents to a censure, a fine of $15,000, and an undertaking requiring the firm, within 90 days, to conduct an independent test and revise its written AML program to require independent AML testing each calendar year.
The securities fraud attorneys at Gana Weinstein LLP have represented investors throughout the country in claims against brokerage firms and stockbrokers. If you have questions about how to file FINRA arbitration against a brokerage firm such as Banyan Securities, LLC or what damages you can recover, call us for a free consultation.