FINRA recently announced that Francine Ann Lanaia, of Alexander Capital, L.P. in Fort Salanga, New York, has been fined $5,000 and suspended from association with any FINRA member firm in any principal capacity for 20 business days. Without admitting or denying the findings, Lanaia consented to the entry of findings that she failed to adequately supervise a registered representative who engaged in unsuitable trading in customers’ accounts.
According to Francine Lanaia’s FINRA Broker Report (CRD), this FINRA sanction is not the first time that Lanaia has been named in a claim related to securities fraud or securities violations (either at Alexander Capital, L.P. or one of her previous firms). Her CRD indicates that Lanaia has been named in at least 4 customer complaints related to securities fraud, including one claim that alleged that she failed to supervise a financial advisor engaging in unsuitable transactions and alleging damages in excess of $300,000.
Prior to working at Alexander Capital, L.P., Francine Lanaia was also affiliated with Trident Partners Ltd. (a registered broker-dealer based in Happauge, New York), Glenn Michael Financial, Inc. (a registered broker-dealer based in Melville, New York), and Investors Associates, Inc. (a registered broker-dealer based in Hackensack, New Jersey).
If you have questions about investments you made with Francine Lanaia or Alexander Capital, or if you believe that you have been the victim of a securities fraud, The White Law Group may be able to help. To speak to a securities attorney, please call our Chicago office at 312-238-9650 for a free consultation.
The White Law Group is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida.
For more information on The White Law Group, visit http://www.whitesecuritieslaw.com.