Securities Lawyers Blog
Our law firm represents individual and institutional investors that have been mistreated by their brokers and brokerage firms, such as PNC Capital Markets LLC. Many investors do not recognize broker misconduct in their accounts, and those that do are often hesitant to seek help. Broker misconduct spans many issues that violate industry rules, including unauthorized trading, breach of fiduciary duty, unsuitable asset allocation, and churning. The attorneys at Gana Weinstein LLP can analyze your accounts and investments to determine if there was misconduct in the handling of your account.
PNC Capital Markets LLC is the PNC broker-dealer that provides public finance and corporate investment banking, securities underwriting, loan syndication arranging, and sales and trading in corporate, municipal, government, agency, mortgage-backed, and asset-backed securities. Based in Pittsburgh and registered with the SEC since 1984, the firm is a wholly owned subsidiary of The PNC Financial Services Group.
PNC Capital Markets LLC – By the Numbers:
- CRD #: 15647
- Regulatory Events: 10
- Arbitration Events: 3
- Broker Employees: 662
PNC Capital Markets LLC – In the News:
FINRA v. PNC Capital Markets LLC (Case #2016050445901) – Beginning in January 2004 and continuing through May 2016, (the “Relevant Period”), the Firm failed to maintain approximately 1.9 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 of 1934 (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. During the Relevant Period, the Firm also experienced a related notice deficiency as well as audit deficiencies that affected its ability to adequately retain and preserve certain electronic records in WORM format, in violation of Exchange Act 17a-4(f), NASD Rule 3110 and FINRA Rule 4511. Finally, the Firm’s written supervisory procedures were not reasonably designed to achieve compliance with Rule 17a-4(f) based on the above-noted findings, in violation of NASD Rule 3010 and FINRA Rule 3110. The Firm completed remediation of the foregoing deficiencies by May 2016.
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.