CSSC Inc. Convertible Debenture 2010 Bond – CSSC Inc. 2014 Bridge Loan Program
Are you concerned about your investment with CSSC Inc.? If so, the securities attorneys at The White Law Group may be able to help you.
According to the Financial Industry Regulatory Authority (FINRA) on June 8, the regulator has sanctioned an employee of CSSC Brokerage Services for failure to supervise.
According to the Letter of Acceptance Waiver and Consent, during the period from November 2012 through March 2015, employees of the firm allegedly failed to reasonably supervise registered representatives selling two private offerings, causing two specific customers to over-concentrate their accounts in illiquid private offerings that were inconsistent with their investment objectives and risk tolerance.
Beginning in May 2010, the firm’s financial advisors allegedly sold two private offerings issued by CSSC, Inc. to customers. The first Offering was purportedly a Convertible Debenture Bond Offering that opened May 10, 2010. The 2010 Bonds also reportedly had a five-year term and paid biannual interest of 8%.
The second offering allegedly comprised a Bridge Loan program offered in May 2014. The CSSC 2014 Loan Program purportedly offered promissory notes with a 12-month term and also paid an 8% interest at the end of the term, and gifted shares of stock in the CSSC.
Failure to Supervise
The White Law Group is investigating potential claims involving the liability that CSSC may have for failure to supervise its registered representatives.
Brokerage firms have a legal responsibility to adequately supervise the business activities of their employees. If a broker engages in a scheme that misleads clients the brokerage firm that employs them may be liable for negligent supervision.
When brokers make unsuitable investment recommendations and squander client funds, the brokerage firm that employs them may be liable for failure to supervise and responsible for investment losses.
If you were a client of CSSC and suffered losses, The White Law Group may be able to help you by filing a FINRA arbitration claim. For a free consultation with a securities attorney call 888-637-5510.
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 White Law Group, visit www.whitesecuritieslaw.com.