{"id":1606,"date":"2015-03-06T20:59:19","date_gmt":"2015-03-06T20:59:19","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2015\/03\/texasbased_brokerdealer_faces"},"modified":"2022-03-18T16:14:35","modified_gmt":"2022-03-18T21:14:35","slug":"texasbased-brokerdealer-faces","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/texasbased-brokerdealer-faces\/","title":{"rendered":"Texas-Based Broker-Dealer Faces SEC Charges Over Supervisory and Customer Protection Violations"},"content":{"rendered":"

\t\t\t\tThe Securities and Exchange Commission is charging H.D. Vest Investment Securities with violating customer protection rules. The regulator contends that the Texas-based broker-dealer<\/a> did not adequately supervise registered representatives that are accused of misappropriating customer monies. <\/p>\n

H.D. Vest will pay a penalty to settle the charges. It has consented to get an independent compliance consultant that will help the firm enhance its supervisory controls.<\/p>\n

The SEC’s order, which institutes a settled administrative proceeding, said that the firm did not have proper procedures and policies to oversee the external business activities of representatives. This allowed some of them to use outside businesses to bilk the brokerage firm’s customers. Some even deposited or moved customer brokerage funds into these external business accounts.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The Securities and Exchange Commission is charging H.D. Vest Investment Securities with violating customer protection rules. The regulator contends that the Texas-based broker-dealer did not adequately supervise registered representatives that are accused of misappropriating customer monies. H.D. Vest will pay a penalty to settle the charges. It has consented to get an independent compliance consultant […]<\/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":[3773,3774,3750],"tags":[],"class_list":["post-1606","post","type-post","status-publish","format-standard","hentry","category-broker-fraud","category-broker-dealers","category-texas-securities-fraud"],"yoast_head":"\nTexas-Based Broker-Dealer Faces SEC Charges Over Supervisory and Customer Protection Violations — Investor Lawyers Blog — March 6, 2015<\/title>\n<meta name=\"description\" content=\"The Securities and Exchange Commission is charging H.D. Vest Investment Securities with violating customer protection rules. 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