Articles Tagged with Investors Capital Corp

Silver Law Group Files Securities Arbitration Claim Relating to California-based Cetera/Investors Capital Corp Broker Daniel B. Vazquez

April 18, 2017 | Silver Law Group

Our firm has filed a complaint against Irvine, California-based Cetera Advisors (CRD# 10299) relating to broker Daniel B. Vazquez Sr. (CRD# 3141463) after FINRA permanently barred Vazquez.

According to Vazquez’s FINRA BrokerCheck report, FINRA permanently barred him from acting as a broker or otherwise associating with firms that sell securities to the public in June 2016 for failing to respond to a FINRA request for information.

The permanent bar comes just two months after a FINRA arbitration was filed alleging unsuitable recommendations and unauthorized trades which led to portfolio losses.

Cetera Brokerage Firm Investors Capital Corp Fined $1.1 Million Over Sales of Unit Investment Trusts

March 14, 2017 | Silver Law Group

Cetera Brokerage Firm Investors Capital Corp Fined $1.1 Million Over Sales of Unit Investment Trusts

Silver Law Group is investigating investor claims against Cetera Financial Group-owned Investors Capital Corp. (CRD# 30613) after FINRA fined the firm and ordered it to pay restitution of over $1.1 million for allegations of short-term trading of unit investment trusts (“UITs”).

According to the Acceptance, Waiver & Consent (“AWC”) Investors Capital Corp. (“Investors Capital”) and FINRA entered into in October 2016, FINRA found that Investors Capital recommended unsuitable short-term trading of UITs and Steepener Notes (“Steepener Notes”) in 74 customer accounts. Additionally, Investors Capital failed to apply sales charge discounts to certain customers’ purchases of UITs, according to the AWC. The misconduct occurred between June 2010 and September 2015.