Securities Lawyers Blog
The securities lawyers at Gana Weinstein LLP represent investors who have been mistreated by their brokers and suffered investment losses. Our firm is experienced in bringing claims against brokerage firms, such as Cicc US Securities, Inc., to hold Wall Street responsible for their misconduct. When a client contacts our firm they can expect that our attorneys will have the knowledge and ability to evaluate the potential claims and analyze their trading activity for red flags of misconduct. Our consultations are designed to help provide clients with all available options.
CICC US Securities, Inc. is the U.S. affiliate of China International Capital Corporation, providing institutional brokerage, equity sales and trading, research, fixed income services, and M&A and financial advisory services to Chinese and American companies and investors. Incorporated in 2005 and operating its New York office since 2007, the firm is based on Park Avenue and is wholly owned by China International Capital Corporation (USA) Holdings, Inc.
Cicc US Securities, Inc. – By the Numbers:
- CRD #: 143221
- Regulatory Events: 1
- Broker Employees: 25
Cicc US Securities, Inc. – In the News:
FINRA v. Cicc US Securities, Inc. (Case #2020065116601) – Between at least February 2019 and February 2020, CICC US failed to develop and implement an anti-money laundering (AML) compliance program and establish, maintain and enforce a supervisory system including written supervisory procedures (WSPs) reasonably designed to detect and cause the reporting of potentially suspicious activity in violation of FINRA Rules 3310(a) and 2010. CICC US’s AML compliance program was not reasonably designed in light of the firm’s customers and business model to achieve compliance with the requirements of the Bank Secrecy Act (BSA), and implementing regulations promulgated by the Department of the Treasury, including the obligation to report suspicious activity. This conduct violated FINRA Rules 3310(a), 3110 and 2010. Between at least February 2019 and February 2020, CICC US marked all trades on trade confirmations and firm blotters as “unsolicited” by default without reviewing or considering the circumstances of each transaction, despite activity by CICC US and its affiliates that may have constituted solicitation. As such, CICC US’s supervisory system and written supervisory procedures (WSPs) were not reasonably designed to achieve compliance with Rules 10b-10 and 17a-3 of the Securities Exchange Act of 1934 and FINRA Rules 4511 and 2232, which require firms to maintain accurate books and records. This conduct violated FINRA Rules 3110 and 2010. In addition, between at least February 2019 and February 2020 CICC US provided three non-registered individuals with the authority and discretion to commit the firm’s capital as authorized signatories for its bank accounts. This conduct violated FINRA Rules 1210 and 2010.
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.