Global Strategic Investments, LLC
Global Strategic Investments, LLC (GSI) is an independent broker dealer serving retail and institutional clients in Latin America and the US. Headquartered in Miami, Florida, GSI has been in business since 2001. GSI is an affiliate of Global Securities Group (GSG). GSG is a Latin America focused financial services group with its main office in Colombia.Global Strategic Investments Missed Suspicious Venezuelan Bond Transactions
A FINRA compliant against GSI in 2014 alleges GSI failed to detect, investigate and report suspicious activity related to liquidation of over $650 Million worth of Venezuelan bonds. GSI consented to sanctions and fines in the amount of $200,000 in an Offer of Settlement with FINRA. This activity occurred in high-risk jurisdictions, Venezuela and Curacao during the period when Venezuela’s system of foreign currency transactions was dismantled. FINRA alleged that the firm failed to identify the money laundering risk associated with the new line and failed to adjust its procedures to account for the high-risk nature of this new endeavor.Anti-Money Laundering Compliance Program Found to be Lacking at Global Strategic Investments
In 2010, GSI signed a Letter of Acceptance Waiver & Consent with FINRA and was censured and fined $150,000 for allegedly failing to adequately implement or enforce its AML compliance program. GSI failed to detect, analyze and/or report highly suspicious transactions. They also failed to establish and implement an adequate customer identification program. During a two year period, GSI processed in excess of $1.4 billion in wire and/or journal transfer into and out of their customers’ accounts. According to FINRA’s allegations, most of the money movement occurred in account of foreign institutional and retail customers domiciled in Columbia, Ecuador or Mexico. Limited to no securities transactions occurred in these accounts. Had GSI had a sufficient AML program, the activity would have prompted “red flags” to investigate the activity.Silver Law Group
Silver Law Group is a nationally recognized securities and investment fraud law firm with Martindale-Hubbell® Peer Review Ratings™ “AV” rated lawyers that handle all securities arbitration matters on a contingency fee basis. The Law Firm, at no cost to investors will review account activity and account statements to determine whether there was any misconduct, whether there are damages and the legal causes of action. We investigate all sales practice violations, while taking into consideration the investor’s age, investment background, and the relationship between the investor and the brokerage firm and its financial advisor. According to securities industry rules and regulations, unsuitable investment advice, securities concentration, fraudulent misrepresentations and omissions of material facts, breach of fiduciary duty, conflicts of interest, variable annuity switching are among the causes of action that may be available to investors in claims for damages against brokerage firms and their financial advisors in a securities arbitration claim filed with the Financial Industry Regulatory Authority (FINRA). We represent investors in FINRA arbitration claims on a contingency fee basis.
To learn more call us at (954) 755-4799 or Toll Free at (800) 975-4345