Securities Lawyers Blog
The investment lawyers at Gana Weinstein LLP have experience helping investors determine whether their portfolio losses at investment firms, such as G1 Execution Services, LLC, were caused by broker misconduct. There are many different ways that your broker can impermissibly drain your accounts. Our attorneys can help you understand the cause of your investment losses, uncover misconduct, and apply the law to hold accountable those responsible.
G1 Execution Services is a broker-dealer that acts as a market maker in listed and over-the-counter equity securities, executing order flow routed from retail brokerage firms. Formerly the market-making unit of E*Trade, the firm was acquired by Susquehanna International Group in 2013 for $75 million and is now owned by G1X Holdings.
G1 Execution Services, LLC – By the Numbers:
- CRD #: 111528
- Regulatory Events: 34
- Broker Employees: 55
G1 Execution Services, LLC – In the News:
FINRA v. G1 Execution Services, LLC (Case #2020066609201) – Between January 2020 and February 2021, G1X failed to timely report a total of 1,618,525 transactions in National Market System (NMS) securities to the Nasdaq Trade Reporting Facility and the NYSE Trade Reporting Facility, in violation of FINRA Rules 6380A(a), 6380B(a), and 2010. Between December 2020 and February 2021, G1X also failed to timely report 125,446 transactions in over-the-counter (OTC) securities to the Over-the-Counter Trade Reporting Facility, in violation of FINRA Rules 6622(a) and 2010.
FINRA v. G1 Execution Services, LLC (Case #2014041944901) – During the period January 1, 2013 through January 31, 2016, the firm failed to provide best execution to 41,505 orders from its broker-dealer clients on behalf of their customers in OTC securities by failing to use reasonable diligence to ascertain the best market for the subject securities and failing to buy or sell in such market so that the resultant prices to the customers were as favorable as possible under prevailing market conditions. As a result, the firm violated FINRA Rules 5310 and 2010. During the period January 1, 2013 through November 2, 2015, the firm failed to establish and maintain a supervisory system reasonably designed to achieve best execution for customer orders in OTC securities in violation of NASD Rule 3010(a) and FINRA Rules 3110(a) and 2010. In addition, between October 2017 and December 2019, G1 failed to immediately display, route, execute, or cancel 39 sampled customer limit orders, including 32 orders that would have locked or crossed a displayed quote, in violation of FINRA Rules 6460 and 2010. Further, the firm’s supervisory system was not reasonably designed to achieve compliance with limit order display obligations in violation of FINRA Rules 3110 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.