FINRA Censures and Fines Growth Capital for Private Placements Rules Violations
The White Law Group is investigating potential securities claims involving Growth Capital Services, Inc. (CRD #124658, San Francisco, CA)
Growth Capital Services, Inc. is a dually registered investment adviser and broker dealer, headquartered in San Francisco. The firm provides financial brokerage services and specializes in buying and selling securities such as stocks, bonds, and mutual funds, according to Bloomberg.
According to a Letter of Acceptance Waiver and Consent posted by FINRA today, the regulator has censured and fined Growth Capital services $35,000 for failing to timely file required documents related to private placements sold by its registered representatives.
Between June 2018 and June 2019, the required regulatory filings for eleven private placements were filed an average of 143 days late, according to FINRA. Growth Capital also reportedly distributed sales materials that did not meet FINRA’s content standards for member communications. These materials were related to seven different private offerings sold by the firm and sent to potential investors between June 2018 and June 2020.
This is the second time the firm has been sanctioned for regulatory issues. In September 2017, FINRA censured and fined the firm $35,000 for failure to supervise. Between approximately October 2008 and April 2013, Growth Capital reportedly failed to fulfill its supervisory responsibilities with respect to the private securities transactions of a total of five registered representatives, as well as other supervisory failures.
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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 Growth Capital Services and would like to speak with a securities attorney, please call The White Law Group at 888-637-5510.
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