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FINRA Investigating Sandlapper Securities for Alleged Violations of Rules

Sandlapper Securities FINRA Arbitration Lawyer | Securities Arbitration Lawyers helping investors recover at FINRA arbitration’s 

The Federal Industry Regulatory Authority, also known as FINRA, is currently investigating brokerage firm Sandlapper Securities on allegations that claim the firm sold Saltwater Disposal Well interests from their development company to investors through unethical investment practices and at excessively high mark ups.

Unfortunately for Sandlapper, the FINRA disciplinary process can be so crippling to

sandlapper securities FINRA arbitration

Image: Reuters.com – FINRA initiated the allegations against Sandlapper Securities on 01/10/2017, the investigation into the violations of several rules and Federal Securities Laws is ongoing, but nearing end.

brokerage firms that it can effectively put them out of business. In 2016 FINRA:

  • Brought 1,434 disciplinary actions against registered individuals and firms
  • Levied $176.3 million in fines
  • Expelled 24 firms from the securities industry
  • Suspended 26 firms and 727 brokers
  • Barred 517 individuals from associating with FINRA-regulated firms
  • And ordered $27.9 million in restitution to harmed investors

That alone should be enough for brokerages and financial companies to strive to remain in compliance with regulatory rules. However, for the executives of Sandlapper Securities it may be too late as the formal investigative procedures into their fraudulent mark ups should be drawing near end.

Are you are a client of Sandlapper Securities looking to recover investments through the FINRA arbitration process? Contact our firm today to speak with a Sandlapper Securities FINRA arbitration lawyer about your recovery options.

Our financial fraud and securities lawyers have litigated on behalf of defrauded investors against major companies across the United States. Contact us today at 855-566-3752 to speak with an experienced securities arbitration attorney.

Understanding Sandlapper Securities Investor Losses

The complaint from FINRA is ridden with evidences that show multiple conflicts of interests and violations of investment related rules committed by Trevor Gordon and Jack Bixler, executives of Sandlapper Securities, through both their investment fund and private development company, with the help of several other Sandlapper broker-dealers.

It does not come as a surprise to many investors that a group of brokers may have cooperatively acted against their better interest, as FINRA has recently come under fire for what has been deemed as “[doing] little to stop firms from hiring high concentrations of potentially problematic brokers.”

FINRA Chief Executive Robert Cook has defended the agency by saying it doesn’t make their internal risk ratings of brokerages available to investors because past disciplinary actions don’t always correspond to the potential for negative acts in the future. However, its investors like those who bought into the Sandlapper Saltwater Disposal well securities that are paying the price for the firms continued ability to hire questionable brokers who rack up FINRA disclosures.

In the allegations against Sandlapper Securities, FINRA alleges the investors lost:

  • On securities they purchased at markups of 160-270%
  • On funds that were borrowed by the firms executives from the investment fund
  • On securities that were purchased with borrowed funds and sold back at a massive mark up
  • The ability to secure the same interests at a fair market value

What are Sandlapper Securities Investors Options for Recovery?

As the complaint against Sandlapper Securities draws speculation that severe consequences may be imposed on the Greenville, SC based brokerage firm, many investors are seeking options for recovery. Our dedicated Sandlapper Securities FINRA arbitration lawyer is looking to speak with investors who want to pursue recovery against Sandlapper Securities.

Investors involved in conflicts with brokerage firms may submit a request for arbitration at FINRA. FINRA also recommends that during this arbitration process you are represented by an attorney. Arbitration with FINRA is a multi-step process beginning with your claim and ending in a decision or an award.

The FINRA arbitration investigatory process consists of a discovery, involving the exchange of documents and evidences, and a hearing, to submit arguments in support of the separate parties.

The final decision is then delivered by the panel of arbitrators, who also decide if there is an award to be given. If so, its ordered the award be delivered to the appropriate party within 30 days. However, this does not always make every award final.

In some cases, the opposing party can move to vacate the award in the federal or state court systems. In addition, there have been cases in which the offending firm is forced to close and the only option for the investor to recover on a FINRA decision is by using the court systems to confirm the arbitration award.

Sandlapper Securities FINRA Arbitration Lawyer

Brokerage firms are heavily represented in their FINRA arbitration’s and even when the decision seems final, may push to vacate the investors award, which is why FINRA recommends investors retain their own legal counsel. Our financial fraud and securities attorneys are ready to litigate on behalf of your Sandlapper Securities losses. Contact our firm today to learn about your recovery options in a free consultation.

Put an experienced securities arbitration lawyer on your side. Contact us today!

Sandlapper Securities FINRA Arbitration Lawyer

Contact us today to learn why FINRA recommends getting a lawyer to represent you in their arbitration process.

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