FINRA Censures & Fines D. H. Hill Securities
According to the Financial Industry Regulatory Authority (FINRA) on July 22, the regulator has censured and fined D. H. Hill Securities $25,000 for rules violations in connection with private placement investment offerings.
According to FINRA’s findings, between August 2015 and December 2019, D.H. Hill reportedly sold interests in eight private placement offerings, each of which claimed exemption from registration pursuant to Rule 506(b) of Regulation D. During this period, D.H. Hill allegedly solicited 16 separate individuals to invest approximately $1.1 million in those offerings. However, D.H. Hill purportedly began participating in each offering well before the firm created a substantive relationship with any of these 16 individuals.
The firm purportedly participated in those offerings by engaging in steps necessary to the distribution of securities, including but not limited to: conducting due diligence on the offerings; communicating with prospective investors; selling interests inthe offerings; and executing placement agent agreements.
As a result, each of those sales allegedly constituted an unregistered distribution of securities in violation of FINRA Rule 2010.
The firm reportedly submitted a Corrective Action Statement to FINRA on July 14, 2021.
Potential Lawsuits to Recover Financial Losses
The foregoing information, which is all publicly available, is being provided by The White Law Group. The White Law Group is a national securities arbitration, securities fraud, and investor protection law firm with offices in Chicago, Illinois.
If you have concerns regarding investments you purchased through D. H. Hill Securities. and would like to speak with a securities attorney, please call The White Law Group at 888-637-5510.
For more information on the firm’s investigation please see the following:
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