CP Capital Securities Fined by FINRA
In June, 2016, the Financial Industry Regulatory Authority (“FINRA”) announced that CP Capital Securities of Miami, Florida submitted an acceptance, waiver and consent letter regarding supervisory lapses in its securities business. In agreeing to the AWC, the firm was fined $70,000.
FINRA’s allegations against CP Capital included that the firm failed to supervise the offering of a private placement of securities of senior secured notes of a Columbian energy company. FINRA contended that the firm did not properly document and review the investment questionnaires used to determine eligibility and exemptions to participate in the private placement of the senior secured notes. In agreeing to the sanction the firm agreed to retain an independent consultant to review the firm’s written supervisory procedures.
CP Capital’s registration and disciplinary history
In order to lawfully sell investments to the public, a firm must either be registered or exempt from registration. CP Capital is a Florida corporation formed in 2001. The firm is registered with FIRNA, the SEC and in 12 states and territories.
According to FINRA’s CRD disclosure report, CP Capital Securities has been the subject of five regulatory investigations.
The Law Office of David Liebrader practices exclusively in the field of investment loss recovery. For the past 23 years, we have dedicated our law practice to assisting investors who have been victims of investment fraud via fraudulent and unsuitable investment transactions. During that time we have recovered money for over one thousand individuals, pension plans, trusts and companies. The recoveries we have obtained via judgments, awards and settlements on behalf of our clients exceed $40,000,000.
When investors contact our firm they can expect prompt attention, and a detailed analysis of their issues. Typical claims that we are asked to review involve “unsuitability (where a financial advisor makes investment recommendations that are inconsistent with a customer’s investment objectives), claims for “churning” (where a broker enters into an excessive number of trades for the purpose of generating commissions), claims involving illiquid investments such as private placements (I.e., real estate investment trusts, limited partnerships, equipment leasing and oil and gas drilling programs) as well as claims for violations of state securities laws, which often provide investors remedies like attorney’s fees and interest, if they are successful on the claim.
If you suspect that you have been the victim of investment fraud, or had a financial advisor recommend unsuitable investments to you, call us today for a free, confidential consultation at (702) 380-3131.