{"id":28336,"date":"2022-07-02T10:00:33","date_gmt":"2022-07-02T15:00:33","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=28336"},"modified":"2022-08-23T08:39:41","modified_gmt":"2022-08-23T13:39:41","slug":"western-international-services-reg-bi-violations","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/western-international-services-reg-bi-violations\/","title":{"rendered":"SEC Accuses Western International Securities & Five Brokers Of Reg BI Violations Involving $13.3M in L Bond Sales"},"content":{"rendered":"

SEC Alleges Western International Securities and Its California Financial Advisors Committed Due Diligence Failures<\/span>\u00a0<\/span><\/h2>\n

The US Securities and Exchange Commission (SEC) has filed civil charges against Western International Securities<\/a> and several of its registered representatives. The firm and its advisors allegedly violated Regulation Best Interest standards when they sold about $13.3M of GWG L Bonds to investors between July 2020 and April 2021.\u00a0<\/span><\/p>\n

The regulator contends that the broker-dealer neglected to conduct adequate due diligence when recommending and selling these unrated and speculative junk bonds. In February 2022, GWG Holdings, Inc. defaulted on $13.6M of payments and interest it owes L Bond investors. The Dallas-based alternative asset firm filed for bankruptcy protection in April 2022.\u00a0<\/span><\/p>\n

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

SEC Alleges Western International Securities and Its California Financial Advisors Committed Due Diligence Failures\u00a0 The US Securities and Exchange Commission (SEC) has filed civil charges against Western International Securities and several of its registered representatives. The firm and its advisors allegedly violated Regulation Best Interest standards when they sold about $13.3M of GWG L Bonds […]<\/p>\n","protected":false},"author":2,"featured_media":28337,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[4723,4753],"tags":[4696,3002],"class_list":["post-28336","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gwg-holdings-2","category-western-international-securities","tag-gwg-l-bonds","tag-western-international-securities"],"yoast_head":"\nWestern International Securities Accused of SEC Reg BI Violations<\/title>\n<meta name=\"description\" content=\"The SEC has accused Western International Securities and five of its brokers of Reg BI violations involving GWG L Bonds.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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