Securities Lawyers Blog
If you have lost money in your accounts at Tradeup Securities, Inc., you may be asking whether you can sue your financial advisor or your brokerage firm. The investment loss attorneys at Gana Weinstein LLP help investors answer that question every day. Brokerage firms are responsible for supervising their brokers, and when a firm fails to supervise, misrepresents an investment, or recommends unsuitable investments, the investor can file a FINRA arbitration claim to recover investment losses.
TradeUP Securities is a self-clearing online broker-dealer that offers commission-free trading in United States equities, ETFs and options through its proprietary web and mobile platform, along with margin lending, extended-hours trading and access to IPO offerings through an affiliate. Established in New Jersey in 1986 and headquartered on Madison Avenue in New York City, the firm is affiliated with US Tiger Securities and is a member of the New York Stock Exchange.
Tradeup Securities, Inc. – By the Numbers:
- CRD #: 18483
- Regulatory Events: 4
- Broker Employees: 42
Tradeup Securities, Inc. – In the News:
FINRA v. Tradeup Securities, Inc. (Case #2022073322301) – US Tiger and TradeUP are affiliated firms owned by an offshore holding company. Both firms serviced foreign financial institution omnibus accounts that transacted in thinly traded low-priced securities. Between November 2019 and March 2021 (US Tiger) and between April 2021 and June 2023 (TradeUP), the firms’ AML programs were not reasonably designed to detect and report potentially suspicious transactions given this business. The firms also failed to conduct appropriate due diligence on correspondent accounts for foreign financial institutions. Between January 2019 and November 2021, both firms also failed to retain and review communications on an electronic messaging platform provided by the firms’ parent. For their AML violations (FINRA Rules 3310 and 2010) and their communications retention and supervision violations (Exchange Act Rule 17a-4 and FINRA Rules 3110, 4511, and 2010), US Tiger and TradeUP are fined a total of $950,000, and TradeUP has agreed to an undertaking.
FINRA v. Tradeup Securities, Inc. (Case #2023077924101) – From August 2021 to May 2023, TradeUP failed to report 18,702 short interest positions totaling 36,452,154 shares. TradeUP therefore violated FINRA Rules 4560 and 2010. In addition, from August 2021 to May 2023, TradeUP failed to establish and maintain a supervisory system, including written supervisory procedures, reasonably designed to achieve compliance with its short interest reporting obligations in violation of FINRA Rules 3110 and 2010.
Investors who believe they were the victim of broker misconduct or financial advisor negligence at Tradeup Securities, Inc. should act promptly, because FINRA arbitration claims are subject to time limits. Contact the securities arbitration lawyers at Gana Weinstein LLP for a free consultation.