Frank J. Capuano and Royal Alliance Associates, Inc.
Have you lost money with financial advisor Frank Capuano of Holyoke, Massachusetts? We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against Frank J. Capuano. FINRA was investigating allegations that Capuano sold $1.1 million worth of investments in Woodbridge Mortgage Investment Funds without authorization from his brokerage firm, Royal Alliance Associates.
It was alleged that Frank Capuano earned $34,000 in commissions from selling notes in Woodbridge Mortgage Investment Funds. To settle these claims, Capuano was suspended from the securities industry for 12 months and was fined $10,000.
Woodbridge Mortgage Investment Funds have faced litigation from multiple states’ securities regulators. In 2015, the Texas Securities Commission alleged that the sale of Woodbridge notes constituted the sale of unregistered securities. The Massachusetts Securities Division brought a similar claim in 2015 also.
Frank Capuano was a financial advisor and registered representative of Royal Alliance Associates, Inc. from 1989 to July 2015. He worked at a branch office in Holyoke, Massachusetts.
Brokerage firms like Royal Alliance Associates 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 Massachusetts. 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, ProEquities, Securities America, National Securities Corp., and many others.
Click to view: Capuano FINRA AWC
Click to view: Capuano BrokerCheck 4.24.16
If you lost money with Frank Capuano or Royal Alliance Associates, please Contact Us at 720-599-3505 for a free evaluation of your case.