Tr?id=566623520170033&ev=PageView&noscript=1

ÍøÆØ³Ô¹Ï

FINRA Fines National Securities $663,000 Over Private Placement Offering

Posted on April 14th, 2022 at 1:15 PM
FINRA Fines National Securities $663,000 Over Private Placement Offering

rom the Desk of Jim Eccleston at ÍøÆØ³Ô¹Ï:

The Financial Industry Regulatory Authority (FINRA) has imposed a $663,000 fine on National Securities for allegedly deceiving investors about the price of shares included in a private placement offering.


National Securities, which is based in Boca Raton, Florida, has agreed to pay a $300,000 fine and $363,000 in disgorgement. Between December 2017 and January 2018, National Securities marketed a “pre-IPO” private placement offering overseen by its associated investment advisor. According to FINRA, National Securities deceived investors by selling interests in a private company at a price not to exceed $9.75 per share, despite the firm’s failing to locate shares available at that price.


The offering subsequently purchased shares in the private company at nearly double the maximum price outlined in the offering documents, which violated industry rules, according to FINRA. National Securities failed to reasonably supervise its private share business and also failed to enforce written policies pertaining to the offering of “pre-IPO” shares, according to FINRA.


ÍøÆØ³Ô¹Ï LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters.

 
 

Tags: eccleston law, finra, national securities

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

You are the best attorneys in the country.

CC

LATEST NEWS AND ARTICLES

1778521728 Law
May 11, 2026
Private Credit Funds Face Rising Redemptions and Valuation Scrutiny

Investor pressure on private credit funds continues to intensify as redemption requests increase and concerns emerge over how firms value underlying loan portfolios.

1778517375 Law
May 11, 2026
SEC Reports Decline in Enforcement Actions as Leadership Refocuses on Investor Harm

The U.S.

1778171646 Law
May 7, 2026
FINRA Bars Former Raymond James Broker for Refusing Testimony in Unauthorized Trading Probe

A former registered representative with Raymond James has been barred from the securities industry after refusing to cooperate with a Financial Industry Regulatory Authority (FINRA) investigation into alleged unauthorized trading activity.