April 19, 2019 Comments (0) Blog, Current Investigations, Securities Fraud

Corinthian Partners Sanctioned for ETF/ETN sales

Victoria Vandyke, Corinthian Partners Investigation, Featured by Top Securities Attorneys, The White Law Group

Victoria Vandyke – Corinthian Partners LLC – New York, NY

Have you suffered losses investing in ETFs or ETNs with Victoria Vandyke and Corinthian Partners LLC? If so, the securities attorneys at The White Law Group may be able to help you.

According to the Financial Industry Regulatory Authority (FINRA), the regulator has sanctioned Corinthian Partners LLC in New York, NY for allegations that it allegedly failed to supervise the sales of non-traditional ETFs (exchange traded funds) and ETNs (exchange traded notes), including inverse ETFs or leveraged ETFs and failure to supervise their former financial advisor, Victoria Vandyke.

FINRA alleged that between January 2013 and May 2016, Corinthian Partners failed to have procedures in place to adequately supervise the sales of inverse and leveraged ETFs and ETNs.

Specifically, former Corinthian representative Victoria Vandyke purportedly was the only representative who sold these types of ETFs and ETNs.

Vandyke was alleged to have sold $275 million of ETFs and ETNs and reportedly earned $890,000 in commissions.  Further, FINRA alleged that these investments were not suitable for certain customers.  To settle these allegations, Corinthian Partners agreed to pay a $30,000, and two of its executives also paid $10,000 each.

According to her FINRA BrokerCheck Report, Vandyke was affiliated with Corinthian Partners from October 1996 until July 2016. On August 18, 2017, VanDyke was reportedly barred from association with any FINRA member in all capacities, according to FINRA.

Recovery of Investment Losses

Structured products, such as ETFs, and ETNs are often packaged as a way for investors to avoid the volatility of the market or capture growth in a particular sector.  Unfortunately for investors, these structured investments are complex and risky and may be another way for the industry to increase revenues generated from the creation, sale, and management of these products.

Brokerage firms have a fiduciary duty to research investments and to ensure that the investments are appropriate for you in light of your age, investment experience, net worth, and investment objectives.

If you are concerned about your ETF or ETN investments with Victoria Vandyke, please call the offices of The White Law Group for a free consultation with a securities attorney at 888-637-5510.

This information is all publicly available on FINRA’s website and provided to you by The White Law Group.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.

FINRA provides an arbitration forum for investors to resolve disputes. The White Law Group represents investors in FINRA arbitration claims throughout the country. Visit the firm’s homepage to learn more about the firm’s representation of investors.

Click here for your FREE consultation.

 

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