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 SG Americas Securities, 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.
SG Americas Securities, LLC is the U.S. broker-dealer and futures commission merchant of Societe Generale, providing securities and derivatives brokerage, investment banking, advisory, execution, and prime brokerage services. Headquartered in New York City, the firm is a designated primary dealer in U.S. government securities and a member of the New York Stock Exchange.
SG Americas Securities, LLC – By the Numbers:
- CRD #: 128351
- Regulatory Events: 114
- Arbitration Events: 1
- Broker Employees: 766
SG Americas Securities, LLC – In the News:
FINRA v. SG Americas Securities, LLC (Case #2024083343101) – For the period from January 2023 through September 2024, SG Americas published seven inaccurate quarterly reports on its handling of customers’ orders in National Market System (NMS) securities. As a result, the firm violated Rule 606(a) of Regulation NMS under the Securities Exchange Act of 1934 and FINRA Rule 2010. From April 2021 through March 2025, the firm’s supervisory system, including written procedures (WSPs), was not reasonably designed to achieve compliance with Rule 606(a). As a result, the firm violated FINRA Rules 3110 and 2010. For these violations, the firm is censured and fined $90,000.
FINRA v. SG Americas Securities, LLC (Case #2023077775501) – From July 2017 through August 2023, SGAS inaccurately reported 166,421 transactions to FINRA’s Trade Reporting and Compliance Engine (TRACE), in violation of FINRA Rules 6730 and 2010. In addition, from July 2017 through January 2025, the firm failed to establish, maintain, and enforce a supervisory system, including written supervisory procedures, reasonably designed to achieve compliance with the firm’s TRACE reporting obligations, in violation of FINRA Rules 3110 and 2010. For these violations, the firm is censured and fined $275,000.
FINRA v. SG Americas Securities, LLC (Case #2021071475201) – Federal securities laws require that FINRA member firms fingerprint most associated persons prior to or upon association with a firm. The firms review the fingerprint results as part of their background check to determine, among other things, whether a prospective associated person has previously engaged in misconduct that subjects that person to a statutory disqualification. As set forth in Section 3(a)(39) of the Securities Exchange Act of 1934, certain criminal and regulatory events will subject a person to a statutory disqualification. Since at least January 2016, SG Americas has failed to fingerprint and review the fingerprint results to screen for statutory disqualification approximately 2,000 non-registered associated persons employed by affiliates of the firm, as well as an unknown additional number of associated persons who are no longer employed by certain firm affiliates. Accordingly, SG Americas has violated Securities Exchange Act of 1934 § 17(f)(2), Exchange Act Rule 17f-2, and FINRA Rule 2010. During the same period, SG Americas has failed to maintain fingerprint records for the non-registered associated persons whom it has failed to fingerprint, in violation of Exchange Act § 17(a), Exchange Act Rule 17a-3, and FINRA Rules 4511 and 2010. In addition, since at least January 2016, SG Americas has failed to establish and maintain a supervisory system, including written procedures, reasonably designed to comply with fingerprinting requirements, in violation of FINRA Rules 3110(a) and (b) and 2010.
FINRA v. SG Americas Securities, LLC (Case #2019063480501) – From August 2014, through February 2021, SG Americas violated FINRA Rules 2360(b)(5) and 2010 by failing to report over-the-counter (OTC) options positions to the LOPR in approximately 219,000 instances, and reporting inaccurate information in approximately 1.4 million instances. Additionally, from August 2014, through February 2021, SG Americas violated NASD Rule 3010 and FINRA Rules 3110 and 2010 by failing to establish and maintain a supervisory system reasonably designed to achieve compliance with its LOPR reporting obligations.
FINRA v. SG Americas Securities, LLC (Case #2018059389401) – From April 2004 to the present, SGAS failed to establish and maintain a supervisory system reasonably designed to comply with its record retention obligations in violation of NASD Rules 3010 and 2110 and FINRA Rules 3110 and 2010.
Gana Weinstein LLP has successfully litigated broker disputes through verdict or settlement. We represent both individuals and institutions throughout the country in FINRA arbitration, as well as commercial litigation in state and federal courts. Our consultations are both free and thorough and our securities litigation attorneys can help you uncover wrongful activity in your account.