New Orleans stockbroker fraud attorney
Stephen Michael Oliveira and Equinox Securities Allegedly Engaged in Excessive Trading and Churning of Six Customers’ Accounts
Stephen Michael Oliveira and Equinox Securities allegedly engaged in excessive trading and churning six customers’ accounts, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC) currently under review by attorneys Alan Rosca and James Booker.
Stephen Oliveira, Equinox’s President, Chief Compliance Officer and Designated Supervisor, allegedly reviewed each transaction and was aware of the purported misconduct but rejected any responsibility to actively stop the harm, the AWC notes.
As a result hundreds if not thousands of transactions in each account, huge aggregate amounts of commissions, annualized cost-to-equity ratios that exceeded 100 percent, and collective losses that exceeded $800,000, the AWC reports. The Peiffer Rosca Wolf securities lawyers are currently investigating Stephen Oliveira’s alleged excessive trading.
Stephen M. Oliveira Allegedly Reviewed Each Transaction and Was Aware of Misconduct but Rejected Any Responsibility to Intercede and Stop the Harm; Equinox Expelled and Oliveira Barred, Suspended and Fined $25,000
Stephen M. Oliveira, Equinox’s President, Chief Compliance Officer and Designated Supervisor, allegedly reviewed each transaction and was purportedly aware of the misconduct, but rejected any responsibility to intercede and stop the harm, according to the aforementioned AWC currently under review by attorneys Alan Rosca and James Booker.
As a result Oliveira and Equinox violated NASD and FINRA Rules, and hence, Equinox has been expelled and Oliveira has been barred, suspended and fined $25,000, the AWC notes.
The Peiffer Rosca Wolf securities lawyers are currently investigating Stephen M. Oliveira and Equinox’s alleged excessive trading and churning of six customers’ accounts. One should also note that, according to the AWC, Stephen M. Oliveira and Equinox neither admitted nor denied the FINRA findings.
Securities Lawyers Investigating
The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged mislabeling of private securities transactions, and are currently investigating Stephen M. Oliveira and Equinox’s alleged excessive trading and churning of six customers’ accounts. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of Stephen M. Oliveira and Equinox’s alleged excessive trading and churning of six customers’ accounts may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520.
from Investment Fraud Lawyers | Investor Loss Recovery http://ift.tt/28TdCpD
via Securitieslitigatos.com
No comments:
Post a Comment