Securities Lawyers Blog
Financial advisor complaints, broker complaints, and FINRA customer disputes are public on BrokerCheck, and a broker’s regulatory history is often the first thing an investor checks after an unexpected loss. The investor attorneys at Gana Weinstein LLP help customers of firms such as GBM International, Inc. understand what a financial advisor’s disciplinary history means and whether their own losses support a claim against the broker or the brokerage firm.
GBM International is an introducing broker-dealer and futures introducing broker that executes securities and futures trades for clients, many of them Latin American investors, on a fully disclosed basis through clearing firms including Pershing and Apex. Organized in Delaware in 1991 and based in Houston, Texas, the firm is a subsidiary of Corporativo GBM, the parent of Mexican brokerage Grupo Bursatil Mexicano.
GBM International, Inc. – By the Numbers:
- CRD #: 28684
- Regulatory Events: 6
- Broker Employees: 13
GBM International, Inc. – In the News:
FINRA v. GBM International, Inc. (Case #2017054878001) – From September 2013 through December 2016 (Review Period), GBM failed to establish and implement an AML program that could be reasonably expected to detect and cause the reporting of suspicious activity. Specifically, GBM failed to reasonably investigate red flags of suspicious activity or determine whether the firm was required to file a suspicious activity report (SAR). As a result of these failures, GBM violated FINRA Rules 3310(a) and 2010.
FINRA v. GBM International, Inc. (Case #2016049504801) – In Matter No. 20160495048, the OATS Compliance Team staff of FINRA’s Department of Market Regulation (the “staff”) reviewed the firm’s compliance with Order Audit Trail System (“OATS”) reporting and related supervision requirements from May 1, 2015 through May 31, 2016 (the “Review Period”). During the review period the firm violated FINRA Rules 7450, 3110 and 2010.
Our investment fraud lawyers have recovered losses for hundreds of investors through FINRA arbitration awards and settlements. If you have concerns about a broker at GBM International, Inc., contact Gana Weinstein LLP for a free consultation.