{"id":7809,"date":"2019-02-11T12:19:38","date_gmt":"2019-02-11T17:19:38","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=7809"},"modified":"2019-02-18T15:09:04","modified_gmt":"2019-02-18T20:09:04","slug":"finra-and-sec-follow-massachusetts-in-gpb-capital-investigations","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/finra-and-sec-follow-massachusetts-in-gpb-capital-investigations\/","title":{"rendered":"FINRA and SEC Follow Massachusetts in GPB Capital Investigations"},"content":{"rendered":"

After the state of Massachusetts began an investigation into 63 brokers selling private placements<\/a> into GPB<\/a> after the company stopped selling them, The SEC and FINRA have followed suit. Both agencies have launched their own investigations into the company and its practices.<\/p>\n

\"TheGPB announced in August that they would cease finding new investment money in order to focus on compliance and straightening out their accounting and financial statements for their two biggest funds. The SEC is, according to one executive, interested in seeing how accurate GPB\u2019s disclosures are that were given to investors. The SEC also wants to review fund performances and distribution of the company\u2019s capital to their investors, as well as broker-dealers who sold these private placements to investors.<\/p>\n

Launched in 2013, GPB Capital became one of the fastest growing private placement firms selling shares of their funds through independent broker-dealers. Promoting themselves as offerors of alternative investment assets, New York-based GPB uses the business model of \u201cacquiring income-producing private companies,\u201d primarily auto dealerships. The company has raised $1.8 billion of investor funds.<\/p>\n

Continue reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

After the state of Massachusetts began an investigation into 63 brokers selling private placements into GPB after the company stopped selling them, The SEC and FINRA have followed suit. Both agencies have launched their own investigations into the company and its practices. GPB announced in August that they would cease finding new investment money in […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[598,595,699,1101,583,580],"tags":[1536,679,665,1344],"class_list":["post-7809","post","type-post","status-publish","format-standard","hentry","category-alternate-investments","category-investment-fraud","category-private-placement","category-recent-investigations","category-sec-actions","category-stockbroker-misconduct","tag-gpb-capital","tag-private-placements","tag-sagepoint-financial","tag-securities-fraud-attorney"],"yoast_head":"\nFINRA and SEC Follow Massachusetts in GPB Capital Investigations — Securities Arbitration Lawyers Blog — February 11, 2019<\/title>\n<meta name=\"description\" content=\"After the state of Massachusetts began an investigation into 63 brokers selling private placements into GPB after the company stopped selling them, The — February 11, 2019\" \/>\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\/finra-and-sec-follow-massachusetts-in-gpb-capital-investigations\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"FINRA and SEC Follow Massachusetts in GPB Capital Investigations — Securities Arbitration Lawyers Blog — February 11, 2019\" \/>\n<meta name=\"twitter:description\" content=\"After the state of Massachusetts began an investigation into 63 brokers selling private placements into GPB after the company stopped selling them, The — February 11, 2019\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2018\/09\/The-SEC-Has-Proposed-New-Regulations-for-Fiduciaries-1.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written 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