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This blog is written by Robert H. Rex, Esq. who is a securities attorney and a passionate advocate for investors rights. With over 30 years of legal experience, 25 of which have dealt almost exclusively with the recovery of stockmarket and investment losses for mostly elderly clients, he and his... More
My company:
Rex Securities Law
My blog:
Rex Investment Loss Recovery Blog
  • FINRA Fines Berthel Fisher $775,000 For Supervisory Deficiencies  0 comments
    Feb 24, 2014 5:35 PM

    The Industry Regulatory Authority (FINRA) fined Berthel Fisher & Company Financial Services and its affiliate, Securities Management & Research of Marion, Ohio, $775,000 for supervisory deficiencies, including Berthel Fisher's failure to supervise the sale of non-traded real estate investment trusts (REITs) and leveraged and inverse exchange traded funds (ETFs).

    FINRA found that from January 2008 to December 2012,Berthel Fisher had inadequate supervisory systems and written supervisory procedures for the sales of alternative investments such as non-traded REITs, managed futures, oil & gas programs, equipment leasing programs and business development companies. It was also found that some investors were sold these investments in too high a level of concentration making them unsuitable.

    Follow this to read FINRA's February 24, 2014, press release on this sanction of Berthel Fisher.

    March 2014-Rex Securities Law files FINRA arbitration seeking damages from Berthel Fisher for sale of alternative investments to retired single lady from St. Paul,MN.

    If you have losses on alternative investments purchased fromBerthel Fisher, you may be able to recover all or a part of those losses. Call us to discuss your legal rights with an experienced securities attorney.

    Nationwide representation.

    Rex Securities Law

    561 391 1900

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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