Securities Lawyers Blog
The investment lawyers at Gana Weinstein LLP have experience helping investors determine whether their portfolio losses at investment firms, such as Sanford C. Bernstein & Co., LLC, 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.
Sanford C. Bernstein & Co., LLC is the U.S. broker-dealer and investment adviser of AllianceBernstein, housing the Bernstein Private Wealth Management business that serves private clients. The Bernstein business was founded in 1967 as an investment manager and broker-dealer for private clients, and the firm is an indirect subsidiary of AllianceBernstein, which is majority owned by Equitable Holdings.
Sanford C. Bernstein & Co., LLC – By the Numbers:
- CRD #: 104474
- Regulatory Events: 31
- Arbitration Events: 4
- Broker Employees: 793
Sanford C. Bernstein & Co., LLC – Investment Advisors:
- SEC #: 57937
- Assets Under Management: $1,218,000,000
- ADV Form Employee: 0
Sanford C. Bernstein & Co., LLC – In the News:
FINRA v. Sanford C. Bernstein & Co., LLC (Case #2015045281603) – During the period of October 1, 2014 through March 31, 2015 (the “First Review Period”), the Firm, acting as a trading center, failed to establish, maintain, and enforce written policies and procedures that were reasonably designed to prevent trade-throughs of protected quotations in national market system (“NMS”) stocks when it executed orders in NMS stocks internally but failed to simultaneously send ISOs to one or more markets displaying protected quotations in that stock, in violation of Exchange Act Rule 611(a) and FINRA Rule 2010. During both the First Review Period and the period of July 1, 2015 through September 30, 2015 (the “Second Review Period”), the Firm failed to establish and maintain a supervisory system that was reasonably designed to achieve compliance with applicable securities laws and regulations, and with applicable FINRA rules, concerning compliance with Exchange Act Rule 611, in violation of NASD Rule 3010(a) (for conduct occurring before December 1, 2014), and FINRA Rules 3110(a) (for conduct occurring on or after December 1, 2014) and 2010. In addition, during both the First and Second Review Periods, the Firm failed to establish, maintain, and enforce written procedures to supervise the types of business in which it engages and the activities of its associated persons that were reasonably designed to achieve compliance with applicable securities laws and regulations, and with applicable FINRA rules, concerning compliance with Exchange Act Rule 611, in violation of NASD Rule 3010(b) (for conduct occurring before December 1, 2014), and FINRA Rules 3110(b) (for conduct occurring on or after December 1, 2014) and 2010.
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.