Securities Lawyers Blog
The law offices of Gana Weinstein LLP represent investors in disputes with their financial advisors or brokerage firms, such as SRT Securities LLC. 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.
SRT Securities is a broker-dealer that engages in exchange floor and commission business, market making, options, proprietary trading, research distribution and an alternative trading system for ADR conversions. Organized in Delaware in 2010 and headquartered in Birmingham, Michigan, the firm is owned by SRT Securities Inc, whose ownership dates to 1985.
SRT Securities LLC – By the Numbers:
- CRD #: 33725
- Regulatory Events: 26
- Broker Employees: 28
SRT Securities LLC – In the News:
FINRA v. SRT Securities LLC (Case #2021071651901) – From February 2016 to February 2023, SRT failed to establish, maintain, and enforce a supervisory system, including written supervisory procedures (WSPs), reasonably designed to achieve compliance with rules governing outside business activities (OBAs). During this period, SRT knew that three firm registered representatives were engaged in an OBA involving an investment advisory business, and that another firm registered representative was engaged in an OBA for which he planned to solicit investments in a hedge fund. Nevertheless, the firm did not evaluate these OBAs as required by FINRA Rule 3270.01. As a result, SRT violated FINRA Rules 3110, 3270.01, and 2010.
FINRA v. SRT Securities LLC (Case #2015048312801) – In Matter Nos. 20150483128 and 20160523153, the OATS Compliance Section of FINRA’s Department of Market Regulation reviewed the Firm’s compliance with FINRA Rule 7450 during review periods between November 2013 and March 2017. During the first review period, the Firm failed to transmit 14,458 Reportable Order Events (“ROEs”) to OATS, 37.39% of all ROEs it was required to transmit, and transmitted 14,458 ROEs that contained an incorrect Market Participant Identifier (“MPID”). During the second review period, the Firm failed to transmit 11,317 ROEs, 38.12% of all ROEs it was required to transmit, and transmitted 6,430 ROEs that contained an incorrect MPID. These failures violated FINRA Rule 7450(a). Through September 7, 2017, the Firm also failed to enforce its procedures for reviewing its OATS submissions, in violation of NASD Rule 3010, FINRA Rule 3110, and FINRA Rule 2010.
Brokerage firms are responsible for supervising the financial advisors they employ. If you believe a broker at SRT Securities LLC caused your investment losses, Gana Weinstein LLP can help you evaluate a FINRA claim against the broker and the firm. Our consultations are free.