Broker Complaints: vFinance Investments (CRD# 44962)

vFinance Investments has a history of customer and regulatory complaints. vFinance Investments is a licensed broker-dealer registered with FINRA, or the Financial Industry Regulatory Authority. vFinance Investments has been a FINRA member since 1998. It has approximately 8 branches and employs 40 registered individuals.

Customer complaints against vFinance Investments are governed by FINRA, or the Financial Industry Regulatory Authority. As a FINRA member firm, vFinance Investments must arbitrate all customer complaints before FINRA. We exclusively litigate FINRA arbitrations on behalf of investors. In 2013, we filed a customer complaint against vFinance Investments seeking damages for churning and fraud. The complaint also seeks interest and attorneys’ fees on behalf of our client. We are actively investigating other complaints against vFinance Investments and are interested in speaking to any investors who may have lost money.

vFinance has 20 disclosed regulatory complaints according to FINRA. These complaints against vFinance include the following:

In 2005, vFinance Investments was sanctioned by the Securities and Exchange Commission for failing to supervise a broker who provided assistance to a stock promoter who was manipulating the stock price of a shell company. In connection with this complaint, vFinance was fined $50,000.

  • The Securities and Exchange Commission brought an administrative complaint against vFinance in January 2008 for violating federal securities law. In November 2008, after a hearing on the complaint, an administrative law judge fined vFinance Investments $100,000 for violating various securities laws and regulations.
  • In March and November 2009 vFinance was fined twice by FINRA. vFinance was fined in March 2009 for failing to accurately calculate breakpoints for certain mutual fund transactions. vFinance was fined again in 2009 for complaints related to violations of SEC Rules 200(g) and 203(b)(3).
  • In March 2010, FINRA fined vFinance Investments for various trade reporting errors, in violation of FINRA Rule 7450.
  • In December 2011, the Florida Department of Financial Services fined vFinance for providing incorrect information on its application to conduct an insurance business in the state of Florida. The Insurance Commissioner of the State of Oklahoma also fined vFinance in 2010 for providing incorrect information on its licensing application.
  • In 2012 vFinance Investments was fined for operating a securities business while it was net capital deficient. The 2012 FINRA complaint also alleged that vFinance Investments failed to maintain accurate books and records, which is a violation of federal securities law.
  • In February 2013, vFinance Investments was fined by FINRA for, among other things, its failure to adequately supervise the purchase of stocks on the restricted list, including those for which it was conducting offerings. In connection with this complaint, vFinance was fined $65,000 by FINRA.
  • In June, 2014, FINRA fined and censured vFinance Investments for failing to execute orders fully and promptly. Specifically, according to the 2014 complaint, vFinance failed to use reasonable diligence to ascertain the best price for a particular security.

If you or someone you know lost money investing with vFinance Investments please contact the securities fraud attorneys at Fitapelli Kurta today. Our firm will evaluate your complaint against vFinance Investments for free. Do not delay – speak to an attorney now.