According to the Financial Industry Regulatory Authority (FINRA), New Jersey-based brokerage Hennion & Walsh, Incorporated (CRD# 25766) is the subject of numerous customer complaints and regulatory sanctions.
Formed in 1989, Hennion & Walsh is headquartered in Parsippany, New Jersey and is registered in fifty-two US states. William Walter Walsh serves as President, William Hennion serves as Vice President, Douglas Kevin Mahn serves as Managing Director, and Richard Hennion serves as Executive Vice President.
According to the firm’s BrokerCheck report, Hennion & Walsh is the subject of ten regulatory sanctions and five customer complaints that evolved into arbitration.
In 2013 a customer alleged Hennion & Walsh breached its fiduciary duty, misrepresented material facts related to an investment, failed to supervise its representatives, and acted negligently.
In 2011 FINRA sanctioned Hennion & Walsh following allegations the firm purchased municipal securities from a customer and/or sold municipal securities to a customer at an aggregate price “that was not fair and reasonable.” Hennion & Walsh was censured and issued a fine of $25,000.
In 2005 the National Association of Securities Dealers (NASD) sanctioned Hennion & Walsh following allegations, among others, the firm failed to report written grievances in a timely manner. Hennion & Walsh was issued a fine of $35,000.
In 2005 NASD sanctioned Hennion & Walsh following allegations, among others, the firm failed to maintain and enforce adequate written supervisory measures related to the supervision of firm principals and registered representatives. Hennion & Walsh was issued a fine of $50,000.
In 2004 a customer alleged Hennion & Walsh breached its fiduciary duty and misrepresented material facts related to an investment. The complaint resulted in an award to the customer of more than $11,000.
In 2000 a customer alleged Hennion & Walsh breached its fiduciary duty, breached contract, and engaged in negligence. The complaint resulted in an award to the customer of more than $20,000.
If you have complaints regarding Hennion & Walsh, Incorporated, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recover losses. Since all cases are taken on contingency, 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.