Securities Lawyers Blog
Stockbroker fraud and financial advisor negligence cost investors billions of dollars every year. The stockbroker fraud attorneys at Gana Weinstein LLP represent investors in FINRA arbitration claims involving misrepresentation, omissions, excessive commissions, and overconcentration of investment portfolios, including claims by customers of firms such as Si Securities, LLC. We can determine whether your investment losses were caused by misconduct and what damages may be recovered.
SI Securities is the broker-dealer behind the SeedInvest equity crowdfunding platform, conducting private placements of startup securities and operating an alternative trading system for secondary trading of previously purchased private placement shares. Formed in New York in 2013, the firm was acquired by Circle in 2019 and is based at Circle’s offices at One World Trade Center in New York City.
Si Securities, LLC – By the Numbers:
- CRD #: 170937
- Regulatory Events: 1
- Broker Employees: 4
Si Securities, LLC – In the News:
FINRA v. Si Securities, LLC (Case #2018060263201) – From December 2022 to January 2023, SI Securities failed to terminate a private placement offering and return investor funds when a material change occurred to the minimum contingency, in violation of Securities Exchange Act of 1934 Rule 10b-9 and FINRA Rule 2010. From May 2017 to May 2023, the firm failed to return funds directly from its escrow agent to investors in terminated offerings, in violation of Section 15(c)(2) of the Exchange Act, Rule 15c2-4 thereunder, and FINRA Rule 2010. From January 2016 through March 2021, for 56 private placement offerings, the firm failed to file timely required documents with FINRA and failed to provide all required information or documents for an additional two offerings, in violation of FINRA Rules 5123 and 2010. From January 2016 to January 2022, the firm failed to keep a separate file of all written customer complaints, in violation of FINRA Rules 4513 and 2010. From January 2016 to December 2021 and January 2023 to May 2023, the firm failed to report at least 55 written customer complaints to FINRA, in violation of FINRA Rules 4530(d) and 2010. Between June 2020 and May 2023, the firm failed to establish and maintain a supervisory system, including any written supervisory procedures (WSPs), reasonably designed to achieve compliance with requirements to prepare, file, and deliver a customer relationship summary (Form CRS), in violation of FINRA Rules 3110 and 2010. Between June 2020 and May 2023, it also failed to deliver a Form CRS to retail customers, therefore it willfully violated Exchange Act § 17(a)(1) and Exchange Act Rule 17a-14.
Gana Weinstein LLP represents investors nationwide, including customers of Si Securities, LLC, in FINRA arbitration claims to recover investment losses caused by unsuitable investments, failure to supervise, and other broker misconduct. Our consultations are free and there is no obligation.