{"id":3053,"date":"2015-01-16T00:00:00","date_gmt":"2015-01-16T05:00:00","guid":{"rendered":"http:\/\/silverlaw.lawblogger.net\/blog\/chapin-davis-settles-claims-relating-to-structured-notes\/"},"modified":"2018-10-08T12:39:44","modified_gmt":"2018-10-08T16:39:44","slug":"chapin-davis-settles-claims-relating-to-structured-notes","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/chapin-davis-settles-claims-relating-to-structured-notes\/","title":{"rendered":"Chapin Davis Settles Claims Relating to Structured Notes"},"content":{"rendered":"<p><p>Chapin Davis, Inc., of Baltimore, Maryland, submitted an AWC in which the firm was censured and fined by FINRA $35,000. Without admitting or denying the findings, Chapin Davis agreed to the sanctions and to the findings in connection with the sale of structured products, the firm\u2019s <a title=\"Failure to Supervise\" href=\"https:\/\/www.silverlaw.com\/failure-to-supervise.html\"  target=\"_blank\">supervisory system<\/a> and WSPs were inadequate. The findings stated that the firm sold approximately $24.5 million in structured notes and Federal Deposit Insurance Corporation (FDIC) insured structured certificates of deposit (CDs) to retail customers. The firm did not have a system or WSPs for evaluating and conducting due diligence on the products, including determining risks and <a title=\"Unsuitable Investment Advice\" href=\"https:\/\/www.silverlaw.com\/securities-arbitration\/finra-sales-practice-violations\/unsuitable-investment-advice\/\"  target=\"_blank\">suitability<\/a> issues, as applicable, and for approving the products. The firm offered limited training on the products, and its WSPs did not specifically address the products or provide guidance or restrictions unique to the products, including assessment or consideration of customer-specific suitability, as applicable. In addition, the firm did not sufficiently review transactions in the products, including monitoring of accounts for <a href=\"https:\/\/www.silverlaw.com\/securities-concentration-and-failure-to-diversify.html\" target=\"_blank\">overconcentration<\/a> of the products. (<a href=\"http:\/\/disciplinaryactions.finra.org\/viewdocument.aspx?DocNB=37710\"  target=\"_blank\"><strong>FINRA Case #2012030601701<\/strong><\/a>)<\/p>\n<p><a href=\"https:\/\/www.silverlaw.com\/\" target=\"_blank\">Silver Law Group<\/a> represents investors in <a title=\"Investments and Securities Fraud\" href=\"https:\/\/www.silverlaw.com\/securities-arbitration\/investments-and-securities-fraud\/\"  target=\"_blank\">securities and investment fraud<\/a> cases.\u00a0 Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to <a href=\"https:\/\/www.silverlaw.com\/stockbroker-misconduct.html\" target=\"_blank\">stockbroker misconduct<\/a>.\u00a0 If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chapin Davis, Inc., of Baltimore, Maryland, submitted an AWC in which the firm was censured and fined by FINRA $35,000. Without admitting or denying the findings, Chapin Davis agreed to the sanctions and to the findings in connection with the sale of structured products, the firm\u2019s supervisory system and WSPs were inadequate. The findings stated [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[607,580,576],"tags":[],"class_list":["post-3053","post","type-post","status-publish","format-standard","hentry","category-failure-to-supervise","category-stockbroker-misconduct","category-unsuitable-investment-advice"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Chapin Davis Settles Claims Relating to Structured Notes &#8212; Securities Arbitration Lawyers Blog &#8212; January 16, 2015<\/title>\n<meta name=\"description\" content=\"Chapin Davis, Inc., of Baltimore, Maryland, submitted an AWC in which the firm was censured and fined by FINRA $35,000. Without admitting or denying the &#8212; January 16, 2015\" \/>\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\/chapin-davis-settles-claims-relating-to-structured-notes\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Chapin Davis Settles Claims Relating to Structured Notes &#8212; Securities Arbitration Lawyers Blog &#8212; January 16, 2015\" \/>\n<meta name=\"twitter:description\" content=\"Chapin Davis, Inc., of Baltimore, Maryland, submitted an AWC in which the firm was censured and fined by FINRA $35,000. Without admitting or denying the &#8212; January 16, 2015\" \/>\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=\"1 minute\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Chapin Davis Settles Claims Relating to Structured Notes &#8212; Securities Arbitration Lawyers Blog &#8212; January 16, 2015","description":"Chapin Davis, Inc., of Baltimore, Maryland, submitted an AWC in which the firm was censured and fined by FINRA $35,000. Without admitting or denying the &#8212; January 16, 2015","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\/chapin-davis-settles-claims-relating-to-structured-notes\/","twitter_card":"summary_large_image","twitter_title":"Chapin Davis Settles Claims Relating to Structured Notes &#8212; Securities Arbitration Lawyers Blog &#8212; January 16, 2015","twitter_description":"Chapin Davis, Inc., of Baltimore, Maryland, submitted an AWC in which the firm was censured and fined by FINRA $35,000. Without admitting or denying the &#8212; January 16, 2015","twitter_misc":{"Written by":"Silver Law Group","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.silverlaw.com\/blog\/chapin-davis-settles-claims-relating-to-structured-notes\/","url":"https:\/\/www.silverlaw.com\/blog\/chapin-davis-settles-claims-relating-to-structured-notes\/","name":"Chapin Davis Settles Claims Relating to Structured Notes &#8212; Securities Arbitration Lawyers Blog &#8212; January 16, 2015","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/#website"},"datePublished":"2015-01-16T05:00:00+00:00","dateModified":"2018-10-08T16:39:44+00:00","author":{"@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"description":"Chapin Davis, Inc., of Baltimore, Maryland, submitted an AWC in which the firm was censured and fined by FINRA $35,000. Without admitting or denying the &#8212; January 16, 2015","breadcrumb":{"@id":"https:\/\/www.silverlaw.com\/blog\/chapin-davis-settles-claims-relating-to-structured-notes\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.silverlaw.com\/blog\/chapin-davis-settles-claims-relating-to-structured-notes\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.silverlaw.com\/blog\/chapin-davis-settles-claims-relating-to-structured-notes\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.silverlaw.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Chapin Davis Settles Claims Relating to Structured Notes"}]},{"@type":"WebSite","@id":"https:\/\/www.silverlaw.com\/blog\/#website","url":"https:\/\/www.silverlaw.com\/blog\/","name":"Securities Arbitration Lawyers Blog","description":"Published by Securities Arbitration Lawyers \u2014 Silver Law Group","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.silverlaw.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752","name":"Silver Law Group","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/9eb0a691642ae95c68ee1c45b5f50f35bae76a41f3d9f861c7bfd40c87661746?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/9eb0a691642ae95c68ee1c45b5f50f35bae76a41f3d9f861c7bfd40c87661746?s=96&d=mm&r=g","caption":"Silver Law Group"}}]}},"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/posts\/3053","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/comments?post=3053"}],"version-history":[{"count":2,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/posts\/3053\/revisions"}],"predecessor-version":[{"id":7101,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/posts\/3053\/revisions\/7101"}],"wp:attachment":[{"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/media?parent=3053"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/categories?post=3053"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/tags?post=3053"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}