Associated Securities Corp.
Associated Securities Ordered to Pay Customers $8.9 Million
A FINRA arbitration panel ordered Associated Securities Corp. to pay a group of investors $8.9 million to compensate them for damages that they suffered as a result of Associated’s sales of a managed options fund. The claims involved allegations that an Associated Securities broker misrepresented the risky investment as one that would provide his clients with safety and liquidity. The FINRA panel also found that Associated Securities failed to supervise its broker properly.
Associated Securities Ordered to Pay Customer $371,000
A FINRA arbitration panel ordered Associated Securities Corp. to pay an investor $371,000 to compensate him for damages that he suffered as a result of Associated’s sales certain risky technology and biotechnology. Among other things, the investors accused Associated Securities and its broker of breach of contracts, churning, fraud, and failure to supervise.