COR Clearing (“COR”) is a registered broker-dealer headquartered in Omaha, Nebraska. COR primarily earns it revenues from clearing and settlement of securities for the customers of approximately 80 introducing broker-dealers. Some of COR’s current and former introducing broker-dealers include:
- Windsor Street Capital LP
- Joseph Stone Capital
- Alexander Capital LP
- Network 1 Financial Securities, Inc.
- Worden Capital Management, LLC
- Newbridge Securities Corp.
- Titan Securities
- Aegis Capital Corp.
According to the SEC Order, in 2016, COR was the second largest brokerage firm in terms of the dollar amount of shares deposited with a price of $1 per share or less at the Depository Trust and Clearing Corp.
According to the SEC Order, COR’s low-priced security frequency alert at times failed to generate all the alerts it was supposed to generate. Moreover, at times, COR’s AML software lacked a process or procedure for monitoring suspicious conduct with respect to trades in low-priced securities made by introducing firms customers across several securities or within certain date ranges.
Our attorneys are investigating activities relating to low-priced securities including improper sales practices, excessive trading and churning. Investors may be able to recover their losses through securities arbitration.