securities arbitration

National Securities Corporation Censured by FINRA and Fined $125,000 for Numerous Violations

Published on: October 29, 2020 | by Iorio Altamirano

FINRA has sanctioned National Securities Corporation for numerous violations, including failing to comply with reporting obligations and failing to enforce written supervisory procedures related to its reporting obligations between May 2015 and November 2018. National Securities Corporation was also sanctioned for failing to establish, maintain, and enforce written supervisory procedures relating to contingency offers from July 2015 through March 2017. FINRA’s most recent sanction is the third time National Securities Corporation has been censured and fined by FINRA since 2011. National Securities Corporation has also been the subject of customer complaints.

If you have lost money with National Securities Corporation, contact Iorio Altamirano LLP for a free and confidential evaluation of your investment or retirement accounts.

Iorio Altamirano LLP represents investors that have disputes with their financial advisors or brokerage firms, such as National Securities Corporation.

UBS Profits Double as Investors in UBS’s Yield Enhancement Strategy Suffer Losses

Published on: October 20, 2020 | by Iorio Altamirano

Today, UBS Group AG announced that its net profit almost doubled in the third quarter to nearly $2.1 billion from $1.05 billion from a year earlier.

Meanwhile, as UBS and other large investment banking firms continue to rake in huge profits, UBS’s Yield Enhancement Strategy investors continue to suffer avoidable losses.

UBS’s Yield Enhancement Strategy, or YES, is a complex managed options strategy that UBS marketed as a safe, market-neutral overlay that would provide incremental returns to an investor’s portfolio.

Financial Advisor Frank Venturelli (CRD# 6403468) SUSPENDED by FINRA – New Jersey

Published on: October 19, 2020 | by Iorio Altamirano

FINRA has suspended Frank Venturelli from the securities industry for 11 months. Frank Venturelli was a financial advisor and registered representative at the following firms:

Arive Capital Markets, Bay Ridge, NY (September 2019 to December 2019); and
First Standard Financial Company LLC, Red Bank, NJ (November 2014 to September 2019).

Can World Investor Week Effect Real Change for Main Street Investors?

Published on: October 6, 2020 | by Iorio Altamirano

The global campaign promoting investor education and protection kicked off this week. Securities regulators in the U.S. issued a joint investor bulleting highlighting key themes for investors. Among them, the benefits of holding long-term investments, the rise of COVID-19 scams, the need for investors to use resources available to confirm that they are dealing with a reputable firm, and the importance of asking questions to financial professionals.

All sensible topics, to be sure. However, given the campaign’s scope and the multitude of stakeholders involved, the campaign misses an opportunity to have a meaningful impact where it matters most: enhancing investor protections for Main Street.

FINRA’s 2019 statistics show that it imposed $39.5 million in fines to member firms and ordered $27.9 million in restitution to investors. FINRA imposes monetary fines to member firms when it identifies misconduct. These fines also have the added goal of discouraging further misconduct. Restitution is used to address the issue of an investor unjustly suffering a monetary loss. Luckily for those investors, FINRA was able to make them whole. But what about cases that did not involve action by the regulator or went unreported?

Seasoned Securities Arbitration Lawyers August M. Iorio and Jorge Altamirano Announce Their New Law Firm Iorio Altamirano LLP

Published on: September 28, 2020 | by Iorio Altamirano

We are proud to announce the launch of our securities arbitration boutique, Iorio Altamirano LLP.

We intend to build a client-focused national practice that offers a bold approach and aggressively pursues the recovery of investment losses on behalf of clients. Our new firm will represent individual investors, groups of individuals, business entities, family offices, credit unions, and institutional investors.

“We have a strong commitment to transparency. It is rooted in who we are as attorneys and as a law firm. Our core values of integrity, excellence, and grit will help us deliver results for our clients,” said partner August Iorio.