FINRA Takes Disciplinary Action Against Firm for 16th Time in 20 Years

Jan 9, 2018 / Author Chris Vernon
News

According to a recent Investment News article, the primary regulator of brokerage firms (FINRA) just took disciplinary action against Meyers Associates – now known as Windsor Street Capital – for the 16th time in less than two decades. The most recent fine was $700,000, but what we find significant is the fact that the regulator has effectively allowed this firm to continue to deal with the investing public despite its history. Specifically, our firm is troubled by FINRA’s failure to actually find ways to financially or procedurally prevent firms like these from continuing to do business and simply make enough money to treat the regulatory fines and suspensions as a cost of doing business. Our experience, representing both investors and advisors in disputes with brokerage firms for decades throughout the United States, is that FINRA is ineffective in policing the brokerage industry.

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Vernon Litigation Group is a financial litigation law firm with offices in Naples, Florida and Atlanta, Georgia that represents clients in courtroom litigation, arbitration, including FINRA arbitration, negotiation, and mediation throughout the United States. Our lawyers have collectively represented hundreds of clients in financial disputes in arbitration and litigation nationwide and recovered hundreds of millions of dollars from purported financial professionals and financial institutions, both large and small. Please contact us to discuss your rights if you believe an insurance or investment professional has failed to act in your best interests or otherwise abused your trust with respect to insurance products, such as annuities or other investment products or services. For more information, visit our website or contact Vernon Litigation Group at:
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Mr. Vernon handles the litigation and arbitration of complex business and financial disputes, with an emphasis on securities fraud and securities arbitration, throughout the United States.