Securities Lawyers Blog
Our law firm represents individual and institutional investors that have been mistreated by their brokers and brokerage firms, such as Creand Securities. Many investors do not recognize broker misconduct in their accounts, and those that do are often hesitant to seek help. Broker misconduct spans many issues that violate industry rules, including unauthorized trading, breach of fiduciary duty, unsuitable asset allocation, and churning. The attorneys at Gana Weinstein LLP can analyze your accounts and investments to determine if there was misconduct in the handling of your account.
Creand Securities, legally Beta Capital Securities, is a self-clearing broker-dealer that provides brokerage, wealth management and trading in equities, corporate and government debt, municipal securities, mutual funds and options, along with private placements, for international and domestic clients. Formed in Delaware in 1995 and headquartered on Brickell Avenue in Miami, the firm is controlled by Credit Andorra, the Andorran banking group with affiliates in Spain, Luxembourg and Panama.
Creand Securities – By the Numbers:
- CRD #: 38964
- Regulatory Events: 8
- Broker Employees: 26
Creand Securities – In the News:
FINRA v. Creand Securities (Case #2022073419001) – From October 2019 to July 2023, Beta Capital failed to establish and implement an anti-money laundering (AML) program that was reasonably designed to detect and cause the reporting of suspicious transactions. During the same period, the firm’s AML program also failed to include appropriate risk-based procedures for conducting ongoing customer due diligence. For these violations of FINRA Rules 3310(a), 3310(f), and 2010, Beta Capital is censured and fined $145,000.
FINRA v. Creand Securities (Case #2020065127101) – From October 2019 to February 2020, Creand failed to accurately calculate its required customer reserve on five separate occasions, resulting in four hindsight deficiencies ranging from approximately $1.3 million to $13.4 million and totaling approximately $27.8 million. The firm’s failure to accurately calculate its customer reserve obligations caused the firm to file five inaccurate Financial and Operational Combined Uniform Single (FOCUS) reports and to maintain inaccurate books and records regarding its customer reserve. As a result of the foregoing, Creand violated Sections 15(c) and 17(a) of the Securities Exchange Act of 1934, Exchange Act Rules 15c3-3, 17a-3, 17a-4, and 17a-5, and FINRA Rules 4511 and 2010. From October 2019 to the present, Creand also failed to establish and maintain a supervisory system, including written supervisory procedures (WSPs), reasonably designed to achieve compliance with the Exchange Act rules relating to customer reserve requirements in violation of FINRA Rules 3110 and 2010.
FINRA v. Creand Securities (Case #2016048835401) – Between October 1, 2015 and September 30, 2017 (the “review period”), the firm failed to timely report 398 transactions in TRACE eligible securities in violation of FINRA Rules 6730(a) and 2010. The firm also failed to accurately report 141 transactions in TRACE-eligible securities in violation of FINRA Rule 6730.
If you have suffered investment losses at Creand Securities, the FINRA arbitration attorneys at Gana Weinstein LLP can review your accounts and tell you whether you have a claim. Our consultations are free and we welcome all inquiries.