Securities Lawyers Blog
Retirement savers who have suffered IRA investment losses or other retirement account losses often have claims they are not aware of. Brokerage firms such as First Manhattan Securities LLC owe their customers a duty of care, and a breach of fiduciary duty, a breach of contract, or negligent supervision of a financial advisor can make a firm liable for the resulting losses. The investment loss lawyers at Gana Weinstein LLP represent retirees and other investors in FINRA arbitration claims to recover those losses.
First Manhattan Securities is the broker-dealer of the First Manhattan investment advisory and wealth planning firm, handling equities, corporate and municipal bonds, mutual funds, and government securities for its clients. Formed in Delaware in 2022 to take over the brokerage business of First Manhattan Co, which has served investors for six decades, the firm is owned by FMC Group Holdings and operates from 399 Park Avenue in New York City with an affiliate office in Greenwich, Connecticut.
First Manhattan Securities LLC – By the Numbers:
- CRD #: 1845
- Regulatory Events: 10
- Broker Employees: 92
First Manhattan Securities LLC – In the News:
FINRA v. First Manhattan Securities LLC (Case #2020066627201) – From January 2012 through May 2020, First Manhattan failed to establish and maintain a supervisory system, and failed to establish, maintain, and enforce written procedures, reasonably designed to achieve compliance with Section 5 of the Securities Act of 1933, in violation of FINRA Rules 3110 and 2010. The firm also failed to establish and implement anti-money laundering (AML) policies and procedures reasonably expected to detect and cause the reporting of suspicious activity, in violation of FINRA Rules 3310(a) and 2010.
FINRA v. First Manhattan Securities LLC (Case #2015047927501) – Respondent violated MSRB Rules G-17 and G-30 on seven occasions by failing to purchase municipal securities for its customers at prices that were fair and reasonable in relation to prevailing market conditions. Respondent also violated MSRB Rule G-27 by failing to adopt, maintain, and enforce written supervisory procedures reasonably designed to achieve compliance with MSRB Rule G-30.
If you are looking to recover stock market losses or recover losses from a financial advisor at First Manhattan Securities LLC, Gana Weinstein LLP represents investors in FINRA arbitration and litigation against brokerage firms nationwide. Our consultations are free.