{"id":5400,"date":"2013-03-05T00:00:00","date_gmt":"2013-03-05T06:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2013\/03\/securities_roundup_venecredit"},"modified":"2022-05-02T15:31:08","modified_gmt":"2022-05-02T20:31:08","slug":"securities-roundup-venecredit","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/securities-roundup-venecredit\/","title":{"rendered":"Securities Roundup: Venecredit Fined $25K for Working with Foreign Finders, Ex-Merrill Lynch\/LPL Financial Rep. Faces Fraud Charges, & BrokersXpress Broker is Suspended Over Private Placement-Related Misconduct"},"content":{"rendered":"\n

Venecredit Fined $25K for Working with Foreign Finders to Generate Retail Investor Business<\/strong><\/p>\n

According to the Financial Industry Regulatory Authority, Venecredit Securities must pay a $25,000 fine for allegedly using foreign finders to get new retail investor business. The financial firm has now been censured for two years.<\/p>\n

The SRO says that the foreign finders served as the primary contacts between Venecredit and the clients and had access to account information via the clearing firm\u2019s platform. These finders worked for a foreign brokerage firm that shares directors and officers with Venecredit and its wholly owned entity. FINRA contends that not only did Venecredit fail to create and put into effect proper supervisory measures that would have allowed it to look at customer complaints about the employees at the foreign brokerage firm, but also it failed to keep electronic correspondence from both the foreign traders and the personal email accounts of its registered representatives.<\/p>\n

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

Venecredit Fined $25K for Working with Foreign Finders to Generate Retail Investor Business According to the Financial Industry Regulatory Authority, Venecredit Securities must pay a $25,000 fine for allegedly using foreign finders to get new retail investor business. The financial firm has now been censured for two years. The SRO says that the foreign finders […]<\/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":[3739,3800,3772,3741],"tags":[],"class_list":["post-5400","post","type-post","status-publish","format-standard","hentry","category-finra","category-merrill-lynch","category-private-placements","category-securities-fraud"],"yoast_head":"\nSecurities Roundup: Venecredit Fined $25K for Working with Foreign Finders, Ex-Merrill Lynch\/LPL Financial Rep. Faces Fraud Charges, & BrokersXpress Broker is Suspended Over Private Placement-Related Misconduct — Investor Lawyers Blog — March 5, 2013<\/title>\n<meta name=\"description\" content=\"Venecredit Fined $25K for Working with Foreign Finders to Generate Retail Investor Business According to the Financial Industry Regulatory Authority, — March 5, 2013\" \/>\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-roundup-venecredit\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Securities Roundup: Venecredit Fined $25K for Working with Foreign Finders, Ex-Merrill Lynch\/LPL Financial Rep. 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