Securities Lawyers Blog
The law offices of Gana Weinstein LLP represents investors in investment disputes with their financial advisors or brokerage firms, such as CG Compass (USA) LLC. 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.
CG Compass (USA) is a broker-dealer that sells corporate equity and debt securities, mutual funds, United States government securities, options, and private placements, clearing its customer accounts through Pershing on a fully disclosed basis. Formed in Delaware in 2003 and based on Madison Avenue in New York, the firm is owned by Compass Group Holdings and indirectly by Vinci Compass Investments, part of an investment group with affiliates across the United States and Latin America, including Brazil, Chile, Uruguay, Peru, Mexico, Colombia, and Argentina.
CG Compass (USA) LLC – By the Numbers:
- CRD #: 129837
- Regulatory Events: 1
- Broker Employees: 15
CG Compass (USA) LLC – In the News:
FINRA v. CG Compass (USA) LLC (Case #2013038311501) – From August 2008 to May 2012, CG Compass failed to develop and implement an anti-money laundering (AML) program that was reasonably designed to achieve and monitor the Firm’s compliance with requirements of the Bank Secrecy Act and the implementing regulations thereunder. In particular, the Firm did not establish and implement policies and procedures reasonably tailored to its business model that could be reasonably expected to detect and cause the reporting of potentially suspicious activity arising from wire transfers to and from customer accounts. The Firm also failed to conduct independent AML testing for calendar years 2008 through 2011. In addition, from August 2008 to June 2017 the Firm failed to conduct periodic reviews of account activity for correspondent accounts for six foreign financial institutions (“FFIs”). And, from August 2008 to May 2012, the firm failed to evidence that it had performed searches based on certain requests made by the Financial Crimes Enforcement Network (“FinCEN”), as required under the Bank Secrecy Act. As a result, CG Compass violated NASD Conduct Rules 3011 and 2110, and FINRA Rules 3310 and 2010. From 2008 through 2012, CG Compass did not establish, maintain and enforce reasonable supervisory control procedures related to wire transfers in violation of NASD Conduct rules 3012(a)(2)(B)(i) and 2110, and FINRA Rule 2010. Finally, from August 2008 to May 2012, CG Compass failed to maintain evidence of principal review of electronic correspondence in violation of NASD Conduct Rules 3010(d)(3) and 2110, and FINRA Rule 2010.
Gana Weinstein LLP has successfully handled hundreds of customer investment disputes with their brokerage firms. Our attorneys can help you detect and uncover suspicious activity in your accounts. Our consultations are free and we welcome all inquiries.