Securities Lawyers Blog
Can I sue my brokerage firm? Investors with accounts at Ceros Financial Services, Inc. ask the investment dispute attorneys at Gana Weinstein LLP that question when their losses do not match the market. In most cases the answer runs through FINRA arbitration, where claims for unsuitable investments, negligence, and failure to supervise are heard. Our attorneys can review your accounts, explain your options, and pursue a FINRA arbitration claim against the brokerage firm when the facts support one.
Ceros Financial Services is a full-service brokerage and custody platform that provides trading, back-office systems, custody and wealth management solutions to independent registered investment advisers, hybrid advisors and investment management firms. Beginning brokerage operations in 1994 and acquired by DGB Holdings in 2019, the firm is headquartered in Rockville, Maryland, with an office in Norwalk, Connecticut, and operates affiliates Advisors Preferred and AtCap Partners.
Ceros Financial Services, Inc. – By the Numbers:
- CRD #: 37869
- Regulatory Events: 5
- Arbitration Events: 1
- Broker Employees: 138
Ceros Financial Services, Inc. – In the News:
FINRA v. Ceros Financial Services, Inc. (Case #2022075315401) – Between May 2022 and August 2023, Ceros served as placement agent in three contingency offerings (the Offerings). Ceros failed to terminate the Offerings and promptly return investor funds when there were material changes to the terms of the Offerings. Therefore, Ceros willfully violated Exchange Act Rule 10b-9 and violated FINRA Rule 2010. From at least May 2022 to at least August 2023, Ceros failed to establish and maintain a supervisory system, including written supervisory procedures (WSPs), reasonably designed to achieve compliance with Exchange Act Rule 10b-9. Therefore, Ceros violated FINRA Rules 3110 and 2010.
FINRA v. Ceros Financial Services, Inc. (Case #2021073201301) – From January 2018 through June 2021, Ceros failed to reasonably supervise the use of personal email for business-related communications and failed to retain certain business-related email communications. As a result, Ceros violated Section 17(a) of the Securities Exchange Act of 1934, Exchange Act Rule 17a-4, and FINRA Rules 4511, 3110, and 2010. During the same period, Ceros failed to adopt written policies and procedures to safeguard customer records and information in violation of Rule 30(a) of Regulation S-P of the Exchange Act and FINRA Rule 2010. From January 2018 through the present, Ceros also failed to develop and implement a written identity theft prevention program designed to detect, prevent, and mitigate identity theft in violation of Regulation S-ID of the Exchange Act and FINRA Rule 2010.
Our investment fraud lawyers have recovered losses for hundreds of investors through FINRA arbitration awards and settlements. If you have concerns about a broker at Ceros Financial Services, Inc., contact Gana Weinstein LLP for a free consultation.