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 Truist Investment Services, Inc., 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.
Truist Investment Services is a retail brokerage firm and licensed insurance agency that offers individual investors access to exchange-listed securities, mutual funds, annuities, and other investment products. Headquartered in Atlanta and registered with the SEC since 1986, the firm is a wholly owned subsidiary of Truist Financial Corporation and clears its transactions through National Financial Services.
Truist Investment Services, Inc. – By the Numbers:
- CRD #: 17499
- Regulatory Events: 13
- Arbitration Events: 15
- Broker Employees: 2,001
Truist Investment Services, Inc. – In the News:
FINRA v. Truist Investment Services, Inc. (Case #2025085052801) – From at least March 2023 to July 2023, a TIS registered representative (Representative A) engaged in improper cancel and rebill activity when he canceled trades he placed in his personal TIS brokerage account and later rebilled them to certain of his customers’ brokerage accounts, without the customers’ knowledge or authorization, causing those customers to incur significant losses. TIS failed to reasonably identify and investigate red flags of Representative A’s improper cancel and rebill activity. Additionally, from at least March 2023 to August 2023, TIS failed to establish and maintain a supervisory system, including written procedures, reasonably designed to identify and respond to improper trade correction activity. Accordingly, TIS violated FINRA Rules 3110(a) and (b) and 2010. For these violations, TIS is censured and fined $275,000.
FINRA v. Truist Investment Services, Inc. (Case #2018057530701) – From January 2015 until January 2018 (the “Relevant Period”), SunTrust failed to establish, maintain and enforce a supervisory system, including written supervisory procedures (“WSPs”) that were reasonably designed to ensure compliance with FINRA Rule 2111 in relation to solicited sales of non-traditional exchange traded funds (“NT-ETFs”) by its registered representatives. These supervisory failures resulted in losses during the Relevant Period of $584,466.13 in 95 SunTrust customer accounts, which SunTrust has already voluntarily fully paid in restitution to these customers. As a result, SunTrust violated FINRA Rules 3110(a), 3110(b) and 2010.
Our attorneys have successfully represented hundreds of investors in investment disputes with their brokers and brokerage firms. Our consultations are free and we welcome all inquiries.