Securities Lawyers Blog
Financial advisor complaints, broker complaints, and FINRA customer disputes are public on BrokerCheck, and a broker’s regulatory history is often the first thing an investor checks after an unexpected loss. The investor attorneys at Gana Weinstein LLP help customers of firms such as Stonecrest Capital Markets, Inc. understand what a financial advisor’s disciplinary history means and whether their own losses support a claim against the broker or the brokerage firm.
Stonecrest Capital Markets is a FINRA member broker-dealer affiliated with Stonecrest Partners, offering securities brokerage services to its clients. Organized in North Carolina in 1995 and registered with the SEC in 1996, the firm is headquartered in Austin, Texas.
Stonecrest Capital Markets, Inc. – By the Numbers:
- CRD #: 39616
- Regulatory Events: 5
- Broker Employees: 41
Stonecrest Capital Markets, Inc. – In the News:
FINRA v. Stonecrest Capital Markets, Inc. (Case #2023077057701) – FINRA’s Trade Reporting and Compliance Engine (TRACE) facilitates the mandatory reporting of certain securities transactions and provides increased price transparency to market participants and investors. From February 2022 through February 2023, Stonecrest failed to re-report 96 TRACE-eligible transactions after they were rejected by TRACE. The firm also inaccurately reported an additional 35 transactions to TRACE. During the same period, Stonecrest failed to establish and maintain a supervisory system, including written supervisory procedures (WSPs), reasonably designed to achieve compliance with TRACE reporting requirements. For these violations of FINRA Rules 6730, 3110, and 2010, Stonecrest is censured, fined $45,000, and has agreed to an undertaking to remediate the issues identified in this AWC.
FINRA v. Stonecrest Capital Markets, Inc. (Case #2016048194301) – Stonecrest failed to report 40 transactions in TRACE eligible securities in violation of FINRA Rules 6730(a) and 2010. The firm also failed to mark order tickets for numerous securities transactions as either “solicited” or “unsolicited,” in violation of SEC Rule 17a-3(a)(6)(i) and FINRA Rules 4511 and 2010.
Gana Weinstein LLP represents investors in disputes over stock market investment losses, unsuitable investments, and failure to supervise at firms across the country, including customers of Stonecrest Capital Markets, Inc. Call us for a free consultation and a candid assessment of your claim.