Broker Complaints: Ladenburg Thalmann & Co., Inc. (CRD# 505)

The investment fraud law firm of Fitapelli Kurta is currently investigation claims against the broker-dealer, Ladenburg Thalmann & Co., Inc.

Ladenburg Thalmann & Co., Inc. has a long history of customer and regulatory complaints. Ladenburg Thalmann & Co., Inc. is a licensed broker-dealer registered with FINRA, or the Financial Industry Regulatory Authority. Ladenburg Thalmann & Co., was formed in Delaware in 1971. While Ladenburg Thalmann’s main office is located in New York, New York, it has offices and operations in all 50 states, Washington D.C., Puerto Rico and the U.S. Virgin Islands.

Complaints against Ladenburg Thalmann & Co., Inc. are governed by FINRA. As a FINRA member, Ladenburg Thalmann & Co., Inc. must arbitrate all customer complaints before FINRA. Our law firm exclusively handles FINRA arbitrations

on behalf of investors. We are investigating complaints against Ladenburg Thalmann & Co., Inc. and are interested in speaking to investors who have complaints against the firm.

Ladenburg Thalmann & Co. has been fined over $1 million in the last 10 years. Most notably, Ladenburg Thalmann & Co., Inc. was fined by FINRA for the following securities and sales practice violations:

  • On March 24, 2009, Ladenburg Thalmann was censured and fined $200,000 by FINRA for failure to properly disclose securities holdings, failure to report customer complaints, failure to supervise, failure to conduct annual branch office inspections, failure to supply options and activity reports and failure to properly apply and account for collateralized mortgage obligations.
  • On March 24, 2005, Ladenburg Thalmann & Co. was fined $25,000 for failing to execute orders fully and promptly.
  • On March 22, 2005, Ladenburg Thalmann & Co., Inc. was censured and fined $275,000 by FINRA and was ordered to pay $1.2 million in restitution (plus interest) to its customers for “charging its customers excessive commissions on proceeds transactions”.
  • On June 18, 2004 Ladenburg Thalmann & Co., Inc. was fined twice, once for failure to use reasonable diligence to discover the best inter-dealer market and once for failure to obtain best execution. Ladenburg Thalmann was fined $60,000 for both offenses combined.
  • On December 19, 2003, Ladenburg Thalmann & Co. was censured and fined $185,000 when the New York Stock Exchange (NYSE) asserted that Ladenburg Thalmann was “engaging in conduct inconstant with just and equitable principles of trade”. Ladenburg Thalmann approved the opening of foreign accounts while they were on notice that they were in violation of rules and regulations of those countries. Ladenburg Thalmann & Co. also permitted inactive brokers to perform broker’s duties and failed to report customer complaints.
  • On July 2, 2003 Ladenburg Thalmann was censured and fined $92,500 and ordered to pay over $3,000 in restitution to its customers for failure to comply with trading rules concerning firm quotes, short sale exempt modifiers, documentation, best execution, riskless principal reports and related supervisory violations.

If you or someone you know has a complaint against Ladenburg Thalmann & Co., Inc. contact the stock fraud attorneys at Fitapelli Kurta today for your free consultation. The law limits the time you have to recover your investment losses so do not hesitate. Call today.