FINRA Files Complaint Against First Financial Equity Corporation
We are currently investigating allegations made against First Financial Equity Corporation, a Baltimore, Arizona-based securities brokerage firm. FINRA (the Financial Industry Regulatory Authority) brought a regulatory action against First Financial Equity Corp., making numerous allegations. FINRA alleged that First Financial Equity Corp. failed to have adequate supervisory systems and written supervisory procedures. For example, FINRA alleged that First Financial Equity failed to have a system in place where excessive fees may have been charged. First Financial was also alleged to have failed to enforce its procedures related to options and no procedures related to the sales of ETFs (or Exchange Traded Funds).
FINRA also brought the complaint against Melissa Strouse, the firm’s chief compliance officer. FINRA alleged that the conduct at issue took place between 2010 and 2013.
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 throughout Arizona, including in Phoenix, Scottsdale, Chandler, Gilbert, Glendale, Mesa, and Tempe. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including LPL Financial, Merrill Lynch, Morgan Stanley, Smith Barney, Stifel Nicolaus & Company, UBS Financial Services, Oppenheimer, Charles Schwab, Wells Fargo Advisors, Ameriprise Financial Services, Raymond James Financial Services, ProEquities, Securities America, National Securities Corp., and many others.
Click to view: First Financial Equity FINRA Comp
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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.