Did you suffer investment losses with FIMCO Securities Group (CRD# 30343) (SEC# 8-44863)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with FIMCO Securities Group. If you suffered losses investing with FIMCO Securities Group, then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
As of June 6, 2020, FIMCO Securities Group’s FINRA BrokerCheck Report contains the following:
1 Regulatory Event Disclosures
UPDATE 6/18/2020: According to FINRA’s April 2020 Disciplinary Actions: FIMCO Securities Group, Inc. (CRD #30343, Mequon, Wisconsin) February 6, 2020 – An AWC was issued in which the firm was censured and fined $5,000. A lower fine was imposed after considering, among other things, the firm’s revenues, financial resources and ability to pay. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to conduct supervisory testing and verification or prepare an annual report documenting the results. The findings stated that the firm failed to prepare annual certifications attesting that it had processes in place to ensure that its supervisory systems and WSPs were reasonably designed to achieve compliance with the laws, rules and regulations governing its business and the activities of its registered representatives. In fact, the firm’s chief executive officer completed only one annual certification during a nine-year period; however, that certification was deficient because the firm did not prepare an annual supervisory report for review. (FINRA Case #2017056627402)
Main Office Location
929 WEST SHAKER CIRCLE
MEQUON, WI 53092
UNITED STATES
Mailing Address
929 WEST SHAKER CIRCLE
MEQUON, WI 53092
UNITED STATES
Business Telephone Number
414-702-8872
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
FIMCO Securities Group’s Direct Owners and Executive Officers
HENRY, FREDERICK ALLEN (CRD#:1429664), PRESIDENT/CHIEF COMPLIANCE OFFICER
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Due Diligence Requirement
FINRA requires broker-dealers to conduct due diligence on investments and to conduct a suitability analysis when recommending securities to a customer that takes into account the customer’s knowledge and experience. FINRA Rule 2111(a) states that “a member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile. A customer’s investment profile includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance, and any other information the customer may disclose to the member or associated person in connection with such recommendation.”
Rule 2111 is composed of three main obligations: reasonable-basis suitability, customer-specific suitability, and quantitative suitability. Broker-Dealers that fail to conduct adequate due diligence on investments they recommend or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Request a Free Consultation with a Securities Attorney
If you suffered losses investing with FIMCO Securities Group and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
This information is all publicly available and is being provided to you by Galvin Legal, PLLC.
Galvin Legal, PLLC is a national securities arbitration, securities mediation, securities litigation, securities fraud, securities regulation and compliance, and investor protection law practice. For more information on Galvin Legal, PLLC and its representation of investors, please visit www.galvinlegal.com or call 1-800-405-5117.
