Securities Lawyers Blog
The law offices of Gana Weinstein LLP represents investors in investment disputes with their financial advisors or brokerage firms, such as Sal Equity Trading, GP. Many investors do not recognize financial advisor misconduct when it happens, but there are steps that can be taken to recover investment losses. There are many different types of broker misconduct, including breach of fiduciary duty, failure to supervise, misrepresentation, and churning. The attorneys at Gana Weinstein LLP can analyze your investments to determine if there was actionable misconduct by the broker or brokerage firm.
SAL Equity Trading is a broker-dealer general partnership that executes orders and provides clearing services mainly for affiliated Susquehanna broker-dealers, and it began clearing stock lending and borrowing for Susquehanna Financial Group in October 2023. Formed in Delaware in 1995 and based in Bala Cynwyd, Pennsylvania, the firm is almost entirely owned by SAL Equity Holding and shares common ownership with Susquehanna International Group.
Sal Equity Trading, GP – By the Numbers:
- CRD #: 29337
- Regulatory Events: 16
- Broker Employees: 15
Sal Equity Trading, GP – In the News:
FINRA v. Sal Equity Trading, GP (Case #2022077355801) – From February 2021 to May 2023, SALET inaccurately reported to the Trade Reporting and Compliance Engine (TRACE) approximately 183,000 transactions in TRACE Eligible Securities without the required “No Remuneration” (NR) indicator, in violation of FINRA Rules 6730(d) and 2010. During the same period, SALET failed to establish and maintain a supervisory system, including written supervisory procedures (WSPs), reasonably designed to achieve compliance with FINRA Rule 6730(d), in violation of FINRA Rules 3110 and 2010.
FINRA v. Sal Equity Trading, GP (Case #2015044231701) – In Trading and Financial Compliance Examination No. 20150442317, FINRA Market Regulation examiners reviewed trading activity of the firm for compliance with various regulatory requirements for the trade date June 15, 2015 (the “Exam Period”), which led to the identification of certain failures by the firm to include ISO Special Handling Codes for intermarket sweep orders on certain Order Audit Trail System (“OATS”) reports over a longer period, as well as related supervisory findings, detailed further below. As a result, the firm violated FINRA Rules 7450, 3110 and 2010.
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.