{"id":2653,"date":"2016-12-19T00:00:00","date_gmt":"2016-12-19T05:00:00","guid":{"rendered":"http:\/\/silverlaw.lawblogger.net\/blog\/oppenheimer-failure-to-comply-in-finra-arbitration-discovery\/"},"modified":"2017-07-27T14:06:07","modified_gmt":"2017-07-27T18:06:07","slug":"oppenheimer-failure-to-comply-in-finra-arbitration-discovery","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/oppenheimer-failure-to-comply-in-finra-arbitration-discovery\/","title":{"rendered":"FINRA Sanctions Oppenheimer for Reporting Violations, Failing to Comply with Discovery Obligations in Arbitrations, and Other Supervisory Failures"},"content":{"rendered":"<p>FINRA fined <a href=\"https:\/\/brokercheck.finra.org\/Firm\/Summary\/249\" target=\"_blank\">Oppenheimer &amp; Co. Inc. (CRD# 249)<\/a> and ordered the firm to pay retribution in an amount totaling $3.4 million for failing to produce documents in discovery to customers who filed FINRA arbitrations and for not applying applicable sales charge waivers to customers.<\/p>\n<p>According to the <a href=\"https:\/\/www.finra.org\/newsroom\/2016\/finra-sanctions-oppenheimer-co-34-million-reporting-violations-failing-comply\" target=\"_blank\">news release<\/a>, FINRA found that over a span of several years, Oppenheimer failed to timely report to FINRA more than 350 required filings including securities-related regulatory findings, disciplinary actions taken by Oppenheimer against its employees, and settlements of securities-related arbitration and litigation claims.\u00a0 On average, according to FINRA, Oppenheimer made these filings more than four years late.<\/p>\n<p>In addition to those allegations, FINRA found that between 2010 and 2013, Oppenheimer failed to produce relevant documents during discovery to seven FINRA arbitration claimants alleging Oppenheimer failed to supervise former Oppenheimer broker <a href=\"https:\/\/brokercheck.finra.org\/Individual\/2346843\" target=\"_blank\">Mark C. Hotton (CRD# 2346843)<\/a>. Oppenheimer failed to provide spreadsheets showing that Hotton had excessively traded multiple customer accounts.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.silverlaw.com\/blog\/oppenheimer-failure-to-comply-in-finra-arbitration-discovery\/\"  title=\"Continue Reading FINRA Sanctions Oppenheimer for Reporting Violations, Failing to Comply with Discovery Obligations in Arbitrations, and Other Supervisory Failures\" class=\"more-link\">Continue reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>FINRA fined Oppenheimer &amp; Co. Inc. (CRD# 249) and ordered the firm to pay retribution in an amount totaling $3.4 million for failing to produce documents in discovery to customers who filed FINRA arbitrations and for not applying applicable sales charge waivers to customers. According to the news release, FINRA found that over a span [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[578],"tags":[],"class_list":["post-2653","post","type-post","status-publish","format-standard","hentry","category-all-releases"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Oppenheimer Fined for Reporting and FINRA Discovery Violations<\/title>\n<meta name=\"description\" content=\"If you have lost money investing with Oppenheimer and\/or Mark C. Hotton, contact us to learn how you can recover your losses. The consultation is free.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silverlaw.com\/blog\/oppenheimer-failure-to-comply-in-finra-arbitration-discovery\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Oppenheimer Fined for Reporting and FINRA Discovery Violations\" \/>\n<meta name=\"twitter:description\" content=\"If you have lost money investing with Oppenheimer and\/or Mark C. Hotton, contact us to learn how you can recover your losses. The consultation is free.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Silver Law Group\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Oppenheimer Fined for Reporting and FINRA Discovery Violations","description":"If you have lost money investing with Oppenheimer and\/or Mark C. Hotton, contact us to learn how you can recover your losses. The consultation is free.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.silverlaw.com\/blog\/oppenheimer-failure-to-comply-in-finra-arbitration-discovery\/","twitter_card":"summary_large_image","twitter_title":"Oppenheimer Fined for Reporting and FINRA Discovery Violations","twitter_description":"If you have lost money investing with Oppenheimer and\/or Mark C. Hotton, contact us to learn how you can recover your losses. The consultation is free.","twitter_misc":{"Written by":"Silver Law Group","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.silverlaw.com\/blog\/oppenheimer-failure-to-comply-in-finra-arbitration-discovery\/#article","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/oppenheimer-failure-to-comply-in-finra-arbitration-discovery\/"},"author":{"name":"Silver Law Group","@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"headline":"FINRA Sanctions Oppenheimer for Reporting Violations, Failing to Comply with Discovery Obligations in Arbitrations, and Other Supervisory Failures","datePublished":"2016-12-19T05:00:00+00:00","dateModified":"2017-07-27T18:06:07+00:00","mainEntityOfPage":{"@id":"https:\/\/www.silverlaw.com\/blog\/oppenheimer-failure-to-comply-in-finra-arbitration-discovery\/"},"wordCount":488,"articleSection":["All Releases"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.silverlaw.com\/blog\/oppenheimer-failure-to-comply-in-finra-arbitration-discovery\/","url":"https:\/\/www.silverlaw.com\/blog\/oppenheimer-failure-to-comply-in-finra-arbitration-discovery\/","name":"Oppenheimer Fined for Reporting and FINRA Discovery Violations","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/#website"},"datePublished":"2016-12-19T05:00:00+00:00","dateModified":"2017-07-27T18:06:07+00:00","author":{"@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"description":"If you have lost money investing with Oppenheimer and\/or Mark C. 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