Publicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on October 4, 2018 indicate that New York-based broker-dealer firm Cadaret Grant & Company was recently sanctioned by FINRA in connection to alleged rule violations. Fitapelli Kurta is interested in hearing from investors who have complaints Cadaret Grant & Company (CRD# 10641).
Established in Delaware in 1981, Cadaret Grant & Company is headquartered in Syracuse, New York and registered with 52 US states and territories. According to its BrokerCheck report, it has been involved in 14 regulatory events and four customer complaints that evolved into arbitration.
In September 2018 FINRA sanctioned the firm in connection to allegations it failed to establish reasonably designed supervisory systems and procedures “with respect to numerous areas of its business.” Among other findings, FINRA stated that the firm’s supervisory failures were in part due to its failure to dedicate sufficient resources to the supervision of firm personnel, and that it failed to create and maintain a system that was reasonably designed to ensure that representatives made investment recommendations that were suitable for customers and that complied with relevant securities rules and regulations. In connection to these allegations, the firm was censured and issued a fine of $800,000.