Securities Lawyers Blog
The securities lawyers at Gana Weinstein LLP represent investors who have been mistreated by their brokers and suffered investment losses. Our firm is experienced in bringing claims against brokerage firms, such as Seven Points Capital, LLC, to hold Wall Street responsible for their misconduct. When a client contacts our firm they can expect that our attorneys will have the knowledge and ability to evaluate the potential claims and analyze their trading activity for red flags of misconduct. Our consultations are designed to help provide clients with all available options.
Seven Points Capital is a proprietary trading broker-dealer that trades equity and stock option securities for its own account and does not carry customer accounts. Organized in New York in 2007 and headquartered on East 52nd Street in Manhattan, the firm owns a majority stake in the London-based Seven Points Capital UK and has had offices in Peoria, Arizona, and Fort Lauderdale, Florida.
Seven Points Capital, LLC – By the Numbers:
- CRD #: 144211
- Regulatory Events: 7
- Broker Employees: 36
Seven Points Capital, LLC – In the News:
FINRA v. Seven Points Capital, LLC (Case #2015043490102) – On various dates during the period between April 22, 2014 and February 27, 2016 (the “Relevant Period”), Seven Points permitted 13 proprietary traders to engage in equity trading when these associated persons were not properly qualified and did not maintain the appropriate registrations with FINRA. Five of these associated persons engaged in trading when they had not passed the Series 7 examination and registered as a General Securities Representative. The other eight were registered as General Securities Representatives but did not timely complete the Series 55 examination and register as an Equity Trader, or, as applicable, complete the Series 57 examination and register as a Securities Trader. As a result of the foregoing, Seven Points violated NASD Membership and Registration Rules 1031(a) and 1032(f), NASD Rule 3010(b) (for conduct before December 1, 2014), and FINRA Rules 3110(b) (for conduct on or after December 1, 2014) and 2010.
FINRA v. Seven Points Capital, LLC (Case #2014039400901) – Between January 2013 and June 2015 (the “Relevant Period”), SEVP failed to develop and implement an anti-money laundering (“AML”) program that was reasonably designed to achieve and monitor compliance with the Bank Secrecy Act and implementing regulations. Specifically, the Firm failed to establish and implement policies and procedures that could reasonably be expected to detect and cause the reporting of potentially suspicious activity relating to the liquidation of billions of shares of low-priced securities. As a result, SEVP violated FINRA Rules 3310(a) 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.