Securities Lawyers Blog
A concentrated investment portfolio, a failure to diversify, or an investment with far more risk than the investor understood are common causes of large investment losses. The broker negligence attorneys at Gana Weinstein LLP help investors at firms such as Corinthian Partners, L.L.C. determine whether their financial advisor breached the duty to recommend suitable investments and, when the advisor did, pursue recovery through FINRA arbitration.
Corinthian Partners is a broker-dealer and investment bank that offers equity and debt brokerage, underwriting, private placements, mutual funds, and government and municipal securities, along with investment banking advisory for growth companies. Founded in New York in 1997 and headquartered on Madison Avenue in New York City, the firm is owned by Corinthian Holdings and is affiliated with Corinthian Partners Asset Management.
Corinthian Partners, L.L.C. – By the Numbers:
- CRD #: 38912
- Regulatory Events: 4
- Broker Employees: 12
Corinthian Partners, L.L.C. – In the News:
FINRA v. Corinthian Partners, L.L.C. (Case #2016047621801) – From January 2013 to May 2016 (Relevant Period), Corinthian, Calabrese and Manoff failed to establish, maintain and enforce a reasonably designed supervisory system, including written supervisory procedures (WSPs), regarding the sale of Non-Traditional Exchange Traded Products (NT-ETPs) to the Firm’s customers. Additionally, the Firm, Calabrese and Manoff failed to reasonably supervise VV, the Firm’s sole registered representative who sold NT-ETPs to customers. VV recommended that seven Firm customers invest almost exclusively in NT-ETPs and hold the positions for extended periods. Corinthian, Calabrese and Manoff failed to reasonably supervise to ensure that the products and trading were suitable for the specific customers to whom they were recommended and that VV had a reasonable basis to recommend the products be held for multiple days. Calabrese and Manoff also failed to identify and investigate red flags of unsuitable trading, including: (a) NT-ETP positions held for extended periods, and (b) unusually large orders of particular NT-ETPs (as defined in the WSPs). As a result, Corinthian, Calabrese and Manoff violated NASD Rule 3010 and FINRA Rules 3110 and 2010.
Brokerage firms are responsible for supervising the financial advisors they employ. If you believe a broker at Corinthian Partners, L.L.C. caused your investment losses, Gana Weinstein LLP can help you evaluate a FINRA claim against the broker and the firm. Our consultations are free.