NSM Securities, Inc.
Formed in 2003, NSM Securities, Inc.’s main office is in West Palm Beach, FL. In 2014, NSM was expelled by FINRA and is no longer registered. However, multiple FINRA arbitration claims have been filed against NSM and others for losses based upon churning, unsuitability and breach of fiduciary duty. According to NSM’s FINRA filings, NSM maintained a clearing arrangement with Stern, Agee & Leach, Inc.Regulatory Violations
NSM Securities, Inc. has been the subject of regulatory investigations which resulted in disciplinary actions by regulators.NSM Securities Expelled From FINRA, President Barred
FINRA expelled NSM from association with FINRA in September, 2014 for actively and aggressively trading stocks in commission-based accounts of its retail customers. This is commonly referred to as churning. The firm failed to establish and maintain a supervisory system reasonably designed to achieve compliance with applicable laws and regulations. The owner and CEO prioritized profits to the firm over duties owed to customers. The firm had widespread sales practice violations, numerous customer complaints, reporting violations and cold-calling abuses.Unregistered Rep Transacted Business in Arkansas
In October 2013, the Arkansas Securities Commissioner fined NSM and ordered them to cease and desist from doing business by representatives not registered in Arkansas.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