Then, on June 23, FINRA announced that it had sanctioned “National Securities Corporation (NSC) approximately $9 million, including disgorgement of $4.77 million in net profits the firm received for underwriting 10 public offerings in which NSC attempted to artificially influence the market for the offered securities.”
Peiffer Wolf has begun an investigation into the brokers at National Securities Corporation. Several of them have allegedly recommended NYC REIT, Phillips Edison REIT, AFIN REIT, GWG’s L Bonds, Franklin Income Fund, GPB, and potentially other alternative investments to investors.
Brokers who recommended one or more of these products to their clients include:
If you invested with any of these brokers or any other broker registered with National Securities Corporation, you should Contact Peiffer Wolf Today.
According to the New Release published by FINRA on June 23, 2022, “between June 2016 and December 2018, NSC, while acting as an underwriter for three initial public offerings and seven follow-on offerings, violated Rule 101 of Regulation M under the Securities Exchange Act of 1934 by unlawfully inducing or attempting to induce certain customers to purchase stock in the aftermarket of the offerings prior to their completion.”
Other charges against NSC included in the $9 million sanction imposed by FINRA include:
Based on our experience, we believe more investors have been the victims of National Securities Corporation’s alleged broker misconduct and investment fraud. If you invested with brokers at National Securities Corporation, Contact Peiffer Wolf immediately for a FREE Consultation.
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Peiffer Wolf has represented thousands of victims, and we remain committed to fighting on behalf of investors. If you are/were a client of a broker registered with National Securities Corporation, Contact Us Today by calling 585-310-5140 or by filling out an online contact form for a FREE Consultation.