Securities Fraud Investigation involving Icon ECI Fund Fifteen LP
Have you suffered investment losses in ICON ECI Fund Fifteen LP? If so, The White Law Group may be able to help you recover your losses by filing a FINRA Dispute Resolution claim against the brokerage firm that sold you the investment.
ICON ECI Fund Fifteen, L.P. in an open ended fixed income mutual fund launched and managed by ICON Investments. It invests in fixed income markets across the globe. The fund primarily invests in debt and debt-like financings such as loans and leases that are collateralized by Capital Assets. ICON ECI Fund Fifteen, L.P. is domiciled in the United States, according to Bloomberg.
The Trouble with Private Placements
The trouble with private placements, like ICON ECI Fund Fifteen LP, is that they lack liquidity and are inherently risky. Compared to traditional investments, such as stocks, bonds and mutual funds, private placements are more complex and are better suited for sophisticated and institutional investors.
In addition, private placements are exempt from registration with the Securities and Exchange Commission (SEC), therefore they lack the same regulatory oversight as more traditional investments.
Broker dealers are required to perform adequate due diligence on any investment they recommend and to ensure that all recommendations are suitable for the investor in light of the investor’s age, risk tolerance, net worth, and investment experience.
Furthermore, broker dealer often earn extremely high sales commission selling private placements, sometimes as high as 15%. Unfortunately, the high sales commissions associated with private placements often provides some broker dealers with enough incentive to overlook suitability requirements.
Investors looking to sell a private placement investment often have difficulty finding a buyer, and can suffer significant losses on the sale. According to LP Sales, shares of ICON ECI Fund Fifteen LP have recently been sold for as little as $210.00 per unit. Considering the original offering price was $1,000 per unit, this is a huge loss for investors.
If a brokerage firm makes unsuitable investment recommendations or fails to adequately disclose the risks associated with an investment they may be liable for investment losses through FINRA arbitration.
To determine whether you may be able to recover investment losses incurred as a result of your purchase of ICON ECI Fund Fifteen LP, please contact The White Law Group at (888) 637-5510 for a free consultation.
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 Franklin, Tennessee. For more information on the firm, visit https://www.whitesecuritieslaw.com.