The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding the Ohio-based brokerage Ohio National Equity Sales Company, or “ONESCO” (CRD# 2936).
ONESCO is a brokerage firm registered in 53 US states and territories, though its main office is in Cincinnati, Ohio. Its parent company is Ohio National Life Insurance, and its securities are cleared through Pershing, LLC. Formed in 1968, ONESCO is the subject of five regulatory sanctions and two customer complaints, according to its BrokerCheck report.
In 2012 a customer alleged ONESCO misrepresented and made unsuitable investment recommendations, and engaged in negligence, omission of material facts, and failure to supervise. The complaint settled in 2003 for more $25,000
In 2008 the Financial Industry Regulatory Authority (FINRA) filed a complaint alleging ONESCO failed to establish and maintain a proper supervisory system designed to achieve compliance with relevant securities laws and regulations with respect to variable annuities transactions. ONESCO was censured and issued a penalty of $70,000.
In 2007 FINRA filed a complaint alleging ONESCO failed to report trace transactions in trace-eligible securities, as required by NASD Rule 6230(B). ONESCO was censured and issued a penalty of $10,000.
In 2004 a customer alleged ONESCO engaged in breach of fiduciary duty, misrepresentation, negligence, and failure to supervise. The complaint settled in 2006 for $124,491.
In 2002 the State of Nevada filed a complaint alleging ONESCO operated an unlicensed branch office in Nevada from June 1990 until January 2002. ONESCO was censured and issued a penalty of $5,500.
In 1996 the Securities and Exchange Commission filed a complaint alleging ONESCO failed to reasonably supervise a representative who engaged in the sale of unregistered securities. ONESCO was censured and issued a penalty of $40,000.
If you or someone you know has a complaint regarding ONESCO, the Ohio National Equity Sales Company, call the securities and investment fraud law firm Fitapelli & Kurta at 877-238-4175. You may be entitled to recover losses, and we will provide a free consultation. As Fitapelli & Kurta accepts every case on contingency, you will only pay us if and when you recover money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.