The White Law Group is currently investigating whether Chicago Investment Group financial advisors, including but not limited to, Howard Corum, Howard Yeager and Thomas Marshburn, made unsuitable investment recommendations to invest in collaterized mortgage obligations (CMOs) and mortgage backed securities (MBS) bonds.
FINRA recently announced that Chicago Investment Group, LLC has been censured, fined $35,000 and ordered to disgorge a total of $9,457.84, plus interest, to customers with respect to its sale of CMOs. Without admitting or denying the allegations, the firm consented to the described sanctions and to the entry of findings that it charged customers markups on Collaterized Mortgage Obligations (CMOs) securities and charged markups, markdowms and commissions on equity securities that were not fair or reasonable, and failed to establish and maintain an adequate supervisory system, including written procedures, and otherwise failed to supervise to ensure that it and its registered representatives charge markups on CMO securities transactions that were fair and reasonable; and charged markups, markdowns and commission on equity transactions that were fair and reasonable.
According to the firm’s FINRA Broker Report (CRD), this is not the first time that Chicago Investment Group, LLC has been the subject of a regulatory investigation. In fact, the firm’s CRD indicated that it has been the subject of 9 regulatory investigations and at least two customer arbitration complaints. These investigations have dealt with CMOs, private placement offerings, and trace-eligible securities and have included violations of NASD Rules 2110, 3010, 2440, 6230, as well as SEC Rule 17-A-4.
If you have questions about investments you made with Chicago Investment Group, or if you have information that may assist us in our investigation of the firm, please contact us.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida. With over 30 years of securities law experience, including experience working at FINRA (f/k/a the NASD) and the SEC, The White Law Group has the expertise to help investors defrauded in securities, investment and financial business transactions. The firm primarily handles securities fraud cases on a contingency fee. For more information on The White Law Group, please visit our website at https://www.whitesecuritieslaw.com.
To contact The White Law Group, please call 312-238-9650 or email Mr. White at [email protected]