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 Concorde Investment Services, LLC, 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.
Concorde Investment Services is a securities broker-dealer. The firm was formed in Michigan in 2009.
Concorde Investment Services, LLC – By the Numbers:
- CRD #: 151604
- Regulatory Events: 4
- Broker Employees: 155
Concorde Investment Services, LLC – In the News:
FINRA v. Concorde Investment Services, LLC (Case #2018060897201) – Between November 2015 and April 2018, Concorde failed to reasonably supervise recommendations to purchase alternative investments related to GPB Capital Holdings, LLC (GPB Capital), made to six customers. As a result, the firm violated FINRA Rules 3110 and 2010.
FINRA v. Concorde Investment Services, LLC (Case #2021070487501) – From December 2020 to December 2021, Concorde sold three private placement offerings claiming exemption from registration under Rule 506(b) of Regulation D, without having established substantive relationships with 45 of the prospective investors prior to the firm’s participation in those offerings. As a result, each of those sales constituted an unregistered distribution of securities in contravention of Section 5 of the Securities Act of 1933, and thereby violated FINRA Rule 2010. During the same period, Concorde’s supervisory system, including its written supervisory procedures (WSPs), was not reasonably designed to achieve compliance with the Securities Act and FINRA rules related to general solicitation of private placement offerings. Accordingly, the firm violated FINRA Rules 3110 and 2010.
FINRA v. Concorde Investment Services, LLC (Case #2018060577602) – From April 2013 to March 2014, Concorde and Levy failed to reasonably supervise JT, a former registered representative of the Firm, who permitted her then-husband, RC, to conduct a securities business with Concorde customers while RC was serving a one-year suspension imposed by FINRA. From March 2014, when Concorde hired RC upon the completion of his suspension, to July 2016, when Concorde and Levy terminated RC and JT, Concorde and Levy failed to reasonably supervise RC and, as a result, did not identify that he recommended unsuitable trades in several customers’ accounts, among other things. As a result of the foregoing, Concorde and Levy violated NASD Rule 3010 (for conduct before December 1, 2014), FINRA Rule 3110 (for conduct on or after December 1, 2014), and FINRA Rule 2010.
Gana Weinstein LLP has successfully litigated broker disputes through verdict or settlement. We represent both individuals and institutions throughout the country in FINRA arbitration, as well as commercial litigation in state and federal courts. Our consultations are both free and thorough and our securities litigation attorneys can help you uncover wrongful activity in your account.