SII Investments Subject of Massachusetts Securities Division Complaint Regarding Non-Traded REITs
Have you lost money investing in non-traded REITs with SII Investments? We are investigating allegations made by the Massachusetts Securities Division against SII Investments, which is based out of Appleton, Wisconsin.
Massachusetts alleged that SII Investments engaged in dishonest and unethical conduct with respect to the sale of real estate investment trusts, or REITs. In particular, Massachusetts was concerned about the sales of non-traded REITs. Massachusetts alleged that non-traded REITs are particularly risky because they have limited redemption of shares, high fees and commissions, and internal conflicts of interest. Moreover, non-traded REITs can have artificially high dividend rates because the shares are priced very infrequently. Massachusetts claimed that SII Investments failed to adequately supervise its advisors, who may have been inflating customer’s financial numbers so that they could sell more REITs to the customers. Massachusetts seeks to fine SII Investments over the sales of non-traded REITs.
Brokerage firms like SII Investments LLC have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado, the Seattle area, Chicago, and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including numerous investors in Massachusetts in the past. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including many against SII Investments.
Click to view: SII Investments Massachusetts Complaint
Click to view: SII Investments BrokerCheck 9.21.17
If you lost money with SII Investments LLC, please CONTACT US at 720-599-3505 for a free evaluation of your case.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.