The investment fraud law firm of Fitapelli Kurta is currently investigating claims against the broker-dealer, Saxony Securities, Inc.
Saxony Securities, Inc. has a long history of customer and regulatory complaints. Saxony Securities is a licensed broker-dealer with FINRA, or the Financial Industry Regulatory Authority. They have been licensed with FINRA since 2002 and their main office location is in St. Louis, Missouri.
Complaints against Saxony Securities, Inc. are governed by FINRA. As a FINRA member, Saxony Securities, Inc. must arbitrate all customer complaints before FINRA. Our law firm exclusively handles FINRA arbitrations on behalf of investors. We are investigating complaints against Saxony Securities, Inc. and are interested in speaking to investors who have complaints against the firm.
Saxony Securities, Inc. or its brokers has been fined by FINRA for the following securities and sales practice violations:
- On October 14, 2013 Saxony Securities was fined $15,000 for failing to establish and maintain a supervisory system. Saxony Securities permitted its registered representatives to recommend and sell nontraditional Exchange Traded Funds (ETF’s) without investigating the characteristics and risk factors of the products before allowing brokers to recommend them to customers.
- Between April and June 2012 then Saxony Securities broker, Ralph Hicks Lord was accused of making unsuitable investments for two separate customers. The case settled for $22,500.
- In 2012, then Saxony Securities broker, Linda M. Richards had a customer complaint filed against her for recommending inappropriate equity transaction and exposing the customer to excessive risk.
- On December 2, 2005 FINRA fined Saxony Securities 6,500 for failing to establish and maintain a supervisory system for their brokers.
If you or someone you know has lost money as a result of Saxony Securities’ financial misconduct, you may be entitled to compensation. The securities and investment fraud law firm of Fitapelli Kurta prosecutes claims on behalf of investors nationwide on a contingency fee basis. However, the law provides you with a limited window of opportunity to recover these financial losses so please, do not wait. Contact the law firm of Fitapelli Kurta today for your free consultation.