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Monex Securities, Inc.

Background Information

Monex Securities, Inc. is a wholly owned subsidiary of Monex Casa de Bolsa, S.A. de C.V., which in turn is part of Monex Grupo Financiero, a leading financial group in Mexico. According to their website, the firm was formed with the objective of satisfying the international investment needs of their customers, providing personal investment advice and managing risks. Operating since 1992, the firm is headquartered in Houston, Texas. Monex clears all future trading activity through Straits Financial LLC and all firm and client security transactions through Pershing LLC.

Regulatory Violations

Monex Securities, Inc has been the subject of several regulatory investigations, some of which have resulted in disciplinary actions by regulators.

Monex Fined Over $1.1 Million for Securities Sales

In December 2014, Monex was fined $175,000 plus restitution and interest of over $1.1 million for allegations it entered into a dealer to dealer administrative servicing and supervisory support agreement with its Mexican parent company and paid transaction-related compensation to nonregistered foreign employees. FINRA found that the firm and its CCO failed to establish and maintain a supervisory system reasonably designed to achieve compliance with securities laws and to have adequate written procedures that ensured these individuals were either not required to be registered or were properly registered before receiving compensation.

Excessive Mark-Ups and Mark-Downs Charged

FINRA censured and fined Monex $7,500 in March 2015 for charging excessive mark-ups and mark-downs on foreign bond transactions. These mark-ups and mark-downs were not fair and reasonable.

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

Client Reviews
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