{"id":1421,"date":"2014-03-24T19:33:37","date_gmt":"2014-03-24T19:33:37","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2014\/03\/securities_america_under_inves"},"modified":"2022-05-03T15:29:31","modified_gmt":"2022-05-03T20:29:31","slug":"securities-america-under-inves","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/securities-america-under-inves\/","title":{"rendered":"Securities America Under Investigation by Pennsylvania in Nontraded REIT Probe"},"content":{"rendered":"<p>\t\t\t\tThe Pennsylvania Department of Banking and Securities is looking into the sales of nontraded REITs by Securities America employees. Ladenburg Thalmann &amp; Co. Inc., which owns the broker-dealer and two other independent brokerage firms, said in its yearly report that the state regulator wants the brokerage firm to provide data about nontraded REITs that Pennsylvania residents have been buying since 2007. The request was made in October.<\/p>\n<p>According to <em>InvestmentNews<\/em>, it is not known at this time if Pennsylvania regulators are just looking at nontraded REIT sales at Securities America or the investigation extends to other firms. It was just last year that Securities America, along with other independent brokerage firms, settled with the Massachusetts Securities Division over nontraded REIT sales.<\/p>\n<p>Securities America paid $8.4 million in restitution to clients in that state along with a $150,000 fine. According to that probe, firms had difficulties abiding by their own policies as well as to the Massachusetts rule that an investor&#8217;s purchase of REITs cannot go beyond his\/her liquid net worth.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/securities-america-under-inves\/\"  title=\"Continue Reading Securities America Under Investigation by Pennsylvania in Nontraded REIT Probe\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Pennsylvania Department of Banking and Securities is looking into the sales of nontraded REITs by Securities America employees. Ladenburg Thalmann &amp; Co. Inc., which owns the broker-dealer and two other independent brokerage firms, said in its yearly report that the state regulator wants the brokerage firm to provide data about nontraded REITs that Pennsylvania [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3829],"tags":[],"class_list":["post-1421","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-securities-america"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Securities America Under Investigation in Nontraded REIT Probe &#8212; Investor Lawyers Blog<\/title>\n<meta name=\"description\" content=\"The Pennsylvania Department of Banking and Securities is looking into the sales of nontraded REITs by Securities America employees\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/securities-america-under-inves\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Securities America Under Investigation in Nontraded REIT Probe &#8212; 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