Securities Lawyers Blog
The law offices of Gana Weinstein LLP represents investors in investment disputes with their financial advisors or brokerage firms, such as Bok Financial Securities, Inc.. Many investors do not recognize financial advisor misconduct when it happens, but there are steps that can be taken to recover investment losses. There are many different types of broker misconduct, including breach of fiduciary duty, failure to supervise, misrepresentation, and churning. The attorneys at Gana Weinstein LLP can analyze your investments to determine if there was actionable misconduct by the broker or brokerage firm.
BOK Financial Securities is the broker-dealer of BOK Financial Corporation, offering fixed income portfolio management, investment banking, public and corporate finance, and hedging and risk management to institutional clients, along with retail investment, financial planning and insurance services marketed as BOK Financial Advisors. Headquartered in Tulsa, Oklahoma and known as BOSC until 2016, the firm is the largest municipal bond underwriter in Oklahoma and one of the largest in the United States, serving clients nationwide across its parent’s major markets.
Bok Financial Securities, Inc. – By the Numbers:
- CRD #: 17530
- Regulatory Events: 12
- Arbitration Events: 2
- Broker Employees: 294
Bok Financial Securities, Inc. – Investment Advisors:
- SEC #: 53600
- Assets Under Management: $1,058,021,768
- ADV Form Employee: 165
Bok Financial Securities, Inc. – In the News:
FINRA v. Bok Financial Securities, Inc. (Case #2023079290101) – From December 2016 through August 2023, BOK Financial inaccurately reported to the Trade Reporting and Compliance Engine (TRACE) approximately 24,200 transactions without the required “No Remuneration” (NR) Indicator, in violation of FINRA Rules 6730(d) and 2010. From December 2016 to November 2024, BOK Financial failed to establish, maintain, and enforce a supervisory system, including written supervisory procedures (WSPs), reasonably designed to achieve compliance with FINRA Rule 6730(d), in violation of FINRA Rules 3110 and 2010.
FINRA v. Bok Financial Securities, Inc. (Case #2016051512501) – From September 2010 to December 2016 (the “Relevant Period”), the Firm failed to maintain electronic brokerage records in non-erasable and non-rewritable format, known as WORM format, as required by Section 17(a) of the Exchange Act of 1934 (the “Exchange Act”), Exchange Act Rule 17a-4(f), NASD Rule 3110 and FINRA Rule 4511. WORM stands for “write once, read many,” and is intended to prevent the alteration or destruction of broker-dealer records stored electronically. During the Relevant Period, the Firm failed to maintain in WORM format approximately 732,000 records. The Firm also failed to implement an audit system regarding retaining and preserving electronic records, in violation of Exchange Act Rule 17a-4(f), NASD Rule 3110 and FINRA Rule 4511. Finally, the Firm’s written supervisory procedures were not reasonably designed to achieve compliance with Rule 17a-4(f) based on the above-noted findings, in violation of NASD Rule 3010 and FINRA Rule 3110.
Our attorneys have successfully represented hundreds of investors in investment disputes with their brokers and brokerage firms. Our consultations are free and we welcome all inquiries.