Securities Lawyers Blog
We represent clients of financial advisors and brokerage firms in investment disputes against their firms, such as MML Strategic Distributors, LLC. Our services cover a wide spectrum of broker misconduct, including unsuitable investments, failure to supervise, and losses in various investment products. Our firm can analyze your brokerage accounts, determine the extent of your investment losses, and understand the issues and remedies available.
MML Strategic Distributors, LLC is the MassMutual broker-dealer that wholesales proprietary variable annuities and variable life insurance as part of MassMutual Strategic Distributors, which also distributes fixed and income annuities, disability income insurance, and hybrid life and long term care solutions through partner firms. Formed in Delaware in 2013, the firm is a subsidiary of Massachusetts Mutual Life Insurance Company, which has been in business for 175 years.
MML Strategic Distributors, LLC – By the Numbers:
- CRD #: 168638
- Regulatory Events: 1
- Broker Employees: 120
MML Strategic Distributors, LLC – In the News:
FINRA v. MML Strategic Distributors, LLC (Case #2016052647801) – Beginning in January 2001 and continuing to the present (the “Relevant Period”), MML failed to maintain approximately 2,400,000 electronic brokerage records in non-erasable and non-rewritable format, known as WORM format, as required by Section 17(a) of the Exchange Act of 1934 (the “Exchange Act”), Rule 17a-4(f) promulgated 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. During the Relevant Period, the Firms also experienced related notice, audit and attestation deficiencies affecting the ability to adequately retain and preserve electronic records, in violation of Exchange Act Rule 17a-4(f), NASD Rules 3110 and FINRA Rule 4511. Finally, the Firms failed to enforce written supervisory procedures relating to compliance with the WORM requirement, in violation of NASD Rule 3010(b) and FINRA Rule 3110(b).
Gana Weinstein LLP has successfully handled hundreds of customer investment disputes with their brokerage firms. Our attorneys can help you detect and uncover suspicious activity in your accounts. Our consultations are free and we welcome all inquiries.