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National Securities Corporation: Investor Receives $155,000 Award in Fraud Complaint

National Securities Corporation

Public records published by the Financial Industry Regulatory Authority (FINRA) and accessed on August 31, 2018 indicate that Washington-based brokerage firm National Securities Corporation has received numerous customer disputes and regulatory sanctions. Fitapelli Kurta is interested in hearing from investors who have complaints regarding National Securities Corporation (CRD# 7569).

Established in Washington in 1947, National Securities Corporation is headquartered in Seattle, Washington and registered with 53 US states and territories. According to the firm’s BrokerCheck report, it has received 61 regulatory events and 15 customer complaints that evolved into arbitration.

In 2015 a customer alleged National Securities Corporation committed fraud, breached its fiduciary duty, executed unauthorized trades, breached contract, failed to supervise, and acted negligently. The complaint resulted in an award to the customer of $42,937.

In 2015 a customer alleged National Securities Corporation acted negligently, failed in its supervisory duties, misrepresented and omitted material facts, committed fraud, breached its fiduciary duty, and acted negligently. The complaint resulted in an award to the customer of $155,000.

In 2015 the State of Connecticut sanctioned the firm in connection to allegations it “engaged in dishonest or unethical conduct” by employing an individual made cold calls without registration as an agent in the state, ad by employing “one or more agents who used sales presentations in a misleading manner.” The firm was issued a fine of $4,000.

In 2015 FINRA sanctioned the firm in connection to allegations it effected client transactions in a municipal security “in an amount lower than the minimum denomination of the issue.” The firm was issued a fine of $25,000.

In 2015 a customer alleged the firm churned investments and executed unauthorized trades in common stock products. The complaint resulted in an award to the customer of more than $504,400.

In 2011 a customer alleged the firm churned investments, recommended unsuitable investments, failed in its supervisory duties, breached contract, acted negligently, and breached its fiduciary duty. The complaint resulted in award to the customer of more than $219,000.

In 2007 a customer alleged National Securities Corporation breached its fiduciary duty, churned investments, made margin calls, and acted negligently. The complaint resulted in an award to the customer of more than $159,100.

In 2002 a customer alleged the firm breached its fiduciary duty, misrepresented material facts, acted negligently, and breached contract. The complaint resulted in an award to the customer of $15,750.

If you have lost money investing with National Securities Corporation, you may be able to recover your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. Time to file your claim may be limited by law, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.