Dawson James Securities Fined $75,000 For Supervisory Failures
We are investigating allegations made by FINRA (the Financial Industry Regulatory Authority) against Dawson James Securities, a Boca Raton, Florida-based securities brokerage firm. In a recent regulatory action, FINRA fined Dawson James $75,000 regarding allegations that it failed to adequately supervise research and private offerings.
FINRA alleged that Dawson James improperly issued research reports that lacked required disclosures. It was alleged that the firm’s lack of reasonable procedures limited the firm’s ability to identify and limit conflicts of interest between its research and investment banking departments. FINRA also alleged that Dawson James failed to conduct a reasonable investigation into a contingency offering of a private placement.
Brokerage firms like Dawson James Securities 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 and the Seattle area. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Florida. Attorney David Neuman is licensed to practice law in Florida. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
Click to view: Dawson James FINRA AWC
Click to view: Dawson James BrokerCheck 2.8.17
IF YOU LOST MONEY WITH DAWSON JAMES SECURITIES, 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.