Broker Complaints: National Planning Corp. (CRN # 29604)

The securities fraud law firm of Fitapelli Kurta is interested in hearing from investors who have invested with National Planning Corp. or any of its brokers.

National Planning Corp. is a broker-dealer firm licensed with both the Securities Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). They are incorporated in Delaware with their main office location in El Segundo, California, with offices in all fifty states.

National Planning Corp. has a history of customer complaints with FINRA, most notably:

  • On November 10, 2009 the firm was ordered to pay close to $3.7 million in restitution for failure to supervise a broker who sold approximately 34 promissory notes to at least 21 investors without disclosing material information to those customers.
  • On January 26, 2007 National Planning was forced to pay $172,000 for failing to supervise, and for conducting securities transactions from an unregistered location.  
  • On April 7, 2006 the firm paid $315,000 for failure to supervise, and for allowing its brokers to recommend unsuitable mutual funds to several customers.
  • On September 23, 2005, National Planning was fined over $1 million for receiving approximately $12.54 million in commissions from participating mutual funds and once again, failure to supervise.

For a full list of National Planning Corp.’s FINRA violations, see their BrokerCheck Report.

If you or someone you know has lost money as the result of National Planning Corp., or one of its brokers, you may be entitled to compensation for your loss. Contact the investment fraud attorneys at Fitapelli Kurta today for your free consultation. Our firm prosecutes cases nationwide on a contingency fee basis. If you don’t win, we don’t win, so call now.