International Assets Advisory: 1 Customer Complaint, 6 Regulatory Actions
Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on June 12, 2019 indicate that Florida-based brokerage firm International Assets Advisory has received a customer complaint and regulatory sanctions in connection to alleged rule violations. Fitapelli Kurta is interested in hearing from investors who have complaints regarding International Assets Advisory (CRD# 10645).
Established in Florida in 2001, International Assets Advisory is headquartered in Orlando, Florida and registered with 52 US states and territories. The firm conducts 19 types of business, including: Broker or dealer selling corporate debt securities, mutual fund retailed or sponsor, mutual fund retailed, municipal securities dealer, and private placements of securities. According to its BrokerCheck report, the firm has received three regulatory sanctions.
In 2000 the National Association of Securities Dealers sanctioned the firm in connection to allegations it failed to timely submit last sale reports, failed to designate last sale reports as late, and failed to properly designate other last sale reports executed outside normal market hours. In connection with these findings, the firm was censured and issued a fine of $10,000.
In 2000 the National Association of Securities Dealers sanctioned the firm in connection to allegations it demonstrated “a pattern or practice of late transaction reporting without exceptional circumstances” in that it failed to timely eligible securities to the Automated confirmation Transaction service, and failed to designate relevant transactions as late. In connection with these findings, the firm was issued a fine of $5,000.
In 1999 the National Association of Securities Dealers sanctioned the firm in connection to allegations the firm failed to designate certain ACT-eligible transactions as late, and engaged in a “pattern and practice of late reporting.” FINRA’s findings stated additionally that the firm did not establish, maintain, and enforce written supervisory procedures that were adequately designed to ensure compliance with relevant trade reporting rules. In connection with these findings, the firm was censured and issued a fine of $7,500.
Some of the firm’s current or former registered representatives have also received customer complaints alleging misconduct.
In October 2018, for instance, a customer alleged former International Assets Advisory broker Thomas Williams recommended unsuitable securities and investment strategies, and engaged in account churning. The customer is seeking $50,000 in damages in the pending complaint.
In 2016 a customer alleged International Assets Advisory broker Greg Long engaged in unsuitable and inappropriate actions involving mutual fund and UIT investments. The complaint settled for $25,000.
In 2011 a customer alleged former International Assets Advisory Jeffrey Rubin made misrepresentations and omissions of material facts, breached his fiduciary duty, breached contract, and committed fraud. The complaint settled for $40,000.
If you or someone you know has complaints regarding International Assets Advisory, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recover lost funds. All cases are taken on a contingency basis: we only receive payment if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.