Articles Tagged with LJM Preservation and Growth Fund

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The Financial Industry Regulatory Authority (“FINRA”) has sanctioned Geneos Wealth Management, Inc. (“Geneos Wealth Management”) for failing to reasonably supervise brokers’ recommendations of the LJM Preservation & Growth Fund.  Geneos Wealth Management was also sanctioned for negligently omitting to tell investors in an offering related to GPB Capital Holdings, LLC that the issuer failed to timely make required filings with the SEC, including audited financial statements.  On March 18, 2022, FINRA and Geneos Wealth Management entered into a Letter of Acceptance, Waiver, and Consent (“AWC”) whereby Geneos Wealth Management accepted the following sanctions:

  • a censure;
  • a $150,000 fine;
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**Update: 3/29/2021** On March 29, 2021, FINRA and Cambridge Investment Research, Inc. entered into a Letter of Acceptance, Waiver, and Consent (AWC) whereby Cambridge accepted sanctions including a censure, $400,000 fine, and over $3.1 million in restitution.   FINRA alleged that Cambridge failed to reasonably supervise representatives’ recommendations of the LJM Preservation & Growth Fund. Cambridge representatives sold more than $18 million in LJM to customers. LJM’s value dropped 80% during an extreme volatility event in February 2018 and the fund ultimately liquidated and closed, resulting in millions of dollars in losses for Cambridge’s customers.  To read more, click on the following link: FINRA Sanctions Cambridge Investment Research, Inc. For Failing to Supervise the Sale of the LJM Preservation and Growth Fund

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