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Broker Complaints: Hallmark Investments, Inc. (CRD# 135003)

The stock and investment fraud law firm, Fitapelli Kurta is investigating claims against broker-dealer firm, Hallmark Investments, Inc. and its’ brokers.

Hallmark Investments, Inc. has been registered with both the Securities Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) since 2005. It was incorporated in the state of New York in 2002 and its main office is on Madison Ave., in New York, New York, with firm operations in all fifty states.

For a seemingly new firm, Hallmark has been experiencing several customer complaints and FINRA violations over the last few years.  Most notably:

  •  On July 2, 2012, an arbitration award was entered against Hallmark for $75,000.  In that complaint, the customer alleged  churning, misrepresentation, omission of facts and unsuitability.
  • On February 20, 2012, Hallmark broker, Steven G. Dash, had a customer complaint filed against him or excessive commissions. Though the customer only requested $2,500 in damages, FINRA exceeded that request and awarded the customer $4,500.
  • On March 8, 2013, FINRA fined Hallmark $2,500 for failure to file audited financial statements.
  • On January 21, 2013, Hallmark was fined $15,000 for failing to establish a supervisory system relating to its retention and review of electronic communications between its brokers and customers. Federal law requires broker-dealer firms to supervise their brokers in order to prevent violation of federal securities laws and FINRA rules.
  • On February 20, 2009, Hallmark received another $15,000 fined for filing incomplete and inaccurate information to FINRA and failed to correct such filing.

If you or someone you know has suffered financial loss as a result of Hallmark Investments, Inc. or one of its’ brokers, including Steven G. Dash, you may be entitled to compensation. Contact the experienced and dedicated attorneys at Fitapelli Kurta today. Our firm prosecutes cases for investors nationwide on a contingency fee basis. Call now for your free case evaluation.