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Broker Complaints: Maxim Group, LLC (CRD# 120708)

The investment fraud law firm of Fitapelli Kurta is currently investigating claims against the broker-dealer firm, Maxim Group, LLC.

Maxim Group, LLC has a long history of customer and regulatory complaints. Maxim Group, LLC 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 on Lexington Ave in New York, New York.

Complaints against Maxim Group, LLC are governed by FINRA. As a FINRA member, Maxim Group must arbitrate all customer complaints before FINRA. Our law firm exclusively handles FINRA arbitrations on behalf of investors. We are investigating complaints against Maxim Group, LLC and are interested in speaking to investors who have complaints against the firm.

Notably, Maxim Group, LLC or its brokers have been fined by FINRA for the following securities and sales practice violations:

  • Most recently, on August 4, 2014, Maxim Group, LLC was fined $5,000 for effecting short sales in securities for its own account without borrowing the security as required by SEC Rules.
  • On June 7, 2013, Maxim Group, LLC was required to pay $95,000 as restitution to its investors for failure to execute orders fully and promptly on 49 separate occasions.
  • On March 28, 2011 Maxim Group, LLC was fined $10,000 for allowing one of its brokers to excessively trade a joint account held by two elderly clients.
  • On October 29, 2010 FINRA fined Maxim Group, LLC $75,000 for failing to use reasonable diligence to ascertain the best market and buy or sell in that market in order to grant a favorable return to their customer. This occurred in 39 separate transactions. Additionally, in 24 instances, they failed to execute orders fully and promptly, in violation of NASD rules.
  • On March 24, 2010 Maxim Group, LLC was ordered to pay $82,500 in restitution to its investors for incorrectly reporting investments and executing reports that contained inaccurate, complete and improperly formatted data.

Over the last 12 years, Maxim Group, LLC has received a total of 15 FINRA complaints or regulatory events. For a full list of Maxim Group, LLC’s FINRA fines and customer complaints, see their BrokerCheck Report.

If you or someone you know has lost money as a result of Maxim Group, LLC’s 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.
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