Securities Lawyers Blog
Brokerage firms such as Loewen Securities have a duty to supervise their financial advisors and to recommend only investments that are suitable for their customers. When a firm breaches that duty through negligent supervision, overconcentration, excessive investment risk, or misrepresentation, investors have the right to bring a claim against the brokerage firm. The broker misconduct attorneys at Gana Weinstein LLP represent investors in these claims and can evaluate whether your investment losses were caused by misconduct.
Loewen Securities, the trade name of Loewen, Ondaatje, McCutcheon USA, is a broker-dealer that engages in retail brokerage of over-the-counter equities, participates in corporate securities underwritings and selling groups, and offers private placements of securities. Organized in Florida in 2017, the firm is headquartered in Oradell, New Jersey, and is approved to do business in more than a dozen states and territories.
Loewen Securities – By the Numbers:
- CRD #: 35205
- Regulatory Events: 1
- Broker Employees: 5
Loewen Securities – In the News:
FINRA v. Loewen Securities (Case #2019060991102) – From May 2018 through December 2019, BLV Securities 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. The firm also failed to conduct an independent AML test in 2019, in violation of FINRA Rules 3310(c) and 2010. Additionally, from May 2018 to December 2018, BLV Securities opened customer accounts without obtaining the signature of a firm principal approving the accounts’ opening. As a result, BLV Securities violated FINRA Rules 4512(a)(1)(D) and 2010.
Gana Weinstein LLP represents investors nationwide, including customers of Loewen Securities, in FINRA arbitration claims to recover investment losses caused by unsuitable investments, failure to supervise, and other broker misconduct. Our consultations are free and there is no obligation.