Securities Lawyers Blog
Our law firm represents individual and institutional investors that have been mistreated by their brokers and brokerage firms, such as Usca Securities LLC. Many investors do not recognize broker misconduct in their accounts, and those that do are often hesitant to seek help. Broker misconduct spans many issues that violate industry rules, including unauthorized trading, breach of fiduciary duty, unsuitable asset allocation, and churning. The attorneys at Gana Weinstein LLP can analyze your accounts and investments to determine if there was misconduct in the handling of your account.
USCA Securities is a broker-dealer whose single line of business covers securities trading, research, and investment banking transactions, with customer accounts carried on a fully disclosed basis by National Financial Services. Organized in Delaware in December 1999, the firm is a wholly owned subsidiary of U.S. Capital Wealth, which is majority owned by Arax Wealth Management.
Usca Securities LLC – By the Numbers:
- CRD #: 103789
- Regulatory Events: 1
- Arbitration Events: 2
- Broker Employees: 111
Usca Securities LLC – In the News:
FINRA v. Usca Securities LLC (Case #2022073302002) – Between January 2022 and September 2022, USCA conducted a securities business on 35 days while failing to maintain its minimum required net capital, in violation of Section 15(c)(3) of the Securities Exchange Act of 1934, Exchange Act Rule 15c3-1, and FINRA Rules 4110 and 2010. From December 2021 through July 2022, USCA failed to maintain accurate financial books and records and filed with FINRA eight inaccurate Financial Operational Combined Uniform Single (FOCUS) reports, in violation of Exchange Act § 17(a), Exchange Act Rules 17a-3 and 17a-5, and FINRA Rules 4511 and 2010. From at least January 2021 through December 2022, USCA violated FINRA Rules 3110 and 2010 by failing to establish and maintain a supervisory system, including written supervisory procedures (WSPs), reasonably designed to ensure compliance with net capital requirements. For these violations, USCA is censured and fined $75,000.
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.