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Broker Complaints: ING Financial Markets (CRD# 28872)

The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding the New York-based brokerage and former advisory firm ING Financial Markets (CRD# 28872).

ING Financial Markets, formerly an investment advisor, is a broker-dealer registered in fifty-three US states and territories and headquartered in New York, New York. Michael Martin Bauto serves as President, Chief Executive Officer, and President of Financial Markets; Graeme Dewar serves as Chief Operations Officer.

According to its BrokerCheck report, ING Financial Markets is the subject of eight regulatory actions.

In 2008 the Financial Industry Regulatory Authority (FINRA) filed a complaint alleging ING Financial Markets failed to expeditiously report 121 corporate bond transactions to the Trade Reporting and Compliance Engine (TRACE). ING Financial Markets was censured and issued a penalty of $7,500.

In 2007 FINRA alleged ING Financial Markets failed to provide its clients with written notification of yield information for certain transactions. ING Financial Markets was issued a penalty of $5,000.

In 2004 the National Association of Securities Dealers (NASD) alleged ING Financial Markets failed to comply with rules pertaining to short sales, act reporting, and supervision. ING Financial Markets was censured and issued a fine of $15,000.

In 1999 the National Association of Securities Dealers (NASD) alleged ING Financial Markets failed to prevent 15 NASDAQ transactions from being placed after the market closed, and additionally failed to prevent 40 NASDAQ orders from being made with inaccurate timestamps. ING Financial Markets was censured and issued a penalty of $6,000.

In 1997 the Commodity Futures Trading Commission alleged ING Financial Markets violated the Commodity Exchange Act. ING Financial Markets was fined $25,000 plus approximately $4,000 in interest.

In 1995 the Chicago Board Options Exchange alleged ING Financial Markets improperly extended credit to an account in deficit. ING was issued a penalty of $7,500.

In 1993 the Chicago Board of Trade alleged ING Financial Markets failed to properly reflect adjusted net capital, failed to correctly calculate under-margin charges, failed to properly record assets, and failed to record excess net capital. ING was issued a penalty of $7,500.

In 1993 the Chicago Board Options Exchange alleged ING Financial Markets failed to comply with rules pertaining to back office matters and additionally failed to supervise employees. ING was issued a penalty of $3,500.

If you have lost money investing with ING Financial Markets, you may be entitled to recoup your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency, which means we only get paid if and when you recover money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.