Securities Lawyers Blog
The investment lawyers at Gana Weinstein LLP have experience helping investors determine whether their portfolio losses at investment firms, such as Georgeson Securities Corporation, 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.
Georgeson Securities Corporation is a FINRA-registered broker-dealer providing securities brokerage services. The firm was incorporated in Delaware in 1998.
Georgeson Securities Corporation – By the Numbers:
- CRD #: 46749
- Regulatory Events: 5
- Broker Employees: 14
Georgeson Securities Corporation – In the News:
FINRA v. Georgeson Securities Corporation (Case #2016050194001) – Beginning in January 2004 and continuing through November 2016 (the “Relevant Period”), the Firm failed to maintain approximately 8.7 million electronic brokerage records in non-erasable and non-rewritable format, sometimes known as WORM format, as required by Section 17(a) of the Exchange Act, Rule 17a-4(f) thereunder, NASD Rule 3110 and FINRA Rule 4511. WORM stands for “write once, read many,” and is intended to prevent the alteration or destruction of broker-dealer records stored electronically. The majority of records not stored in WORM format by GSC were trade tickets generated by the Firm beginning in September 2010. Additionally, during the Relevant Period, the Firm experienced related notice, audit and attestation deficiencies affecting its ability to adequately retain and preserve electronic records, in violation of Exchange Act Rule 17a-4(f), NASD Rule 3110 and FINRA Rule 4511. Finally, the Firm’s written supervisory procedures in effect during the Relevant Period failed to have supervisory processes relating to compliance with the WORM requirement, in violation of NASD Rule 3010 and FINRA Rule 3110.
Gana Weinstein LLP has successfully litigated broker disputes through verdict or settlement. We represent both individuals and institutions throughout the country in FINRA arbitration, as well as commercial litigation in state and federal courts. Our consultations are both free and thorough and our securities litigation attorneys can help you uncover wrongful activity in your account.