FINRA recently announced that Broad Street Securities, Inc. (a FINRA registered broker-dealer based in Plantation, Florida) has been censured and fined $10,000. Without admitting or denying the findings, the Broad Street Securities, Inc. consented to the entry of findings that the firm, acting through an individual financial advisor, failed to establish and maintain a system to supervise a registered representative who the firm employed. The findings further stated that Broad Street Securities and an individual failed to establish procedures addressing heightened supervision and failed to implement heightened supervision of the registered representative (heightened supervision is usually put in place after a financial advisor has exhibited a failure to follow certain compliance rules, particularly with respect to his/her dealings with clients). According to Broad Street Securities’ FINRA Broker Report (CRD), this is not the first time that the firm has been named in a claim or investigation related to securities fraud or failure to supervise. In fact, Broad Street Securities has been named in at least 6 regulatory investigations and three customer complaints. The principle and majority owner of Broad Street Securities appears to be Stuart Gregory Burchard.
If you have any questions about investments you made with Broad Street Securities 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 with a securities attorney, pleas call our Chicago office at 312-238-9650.
The White Law Group, LLC is a national securities fraud group, 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 https://www.whitesecuritieslaw.com.