Money Concepts Capital Corporation: 3 Customer Complaints, 8 Regulatory Actions
Public records published by the Financial Industry Regulatory Authority (FINRA) and accessed on June 13, 2019 indicate that Florida-based brokerage and advisory firm Money Concepts Capital Corporation has received customer complaints and regulatory sanctions in connection to alleged rule violations. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Money Concepts Capital Corporation (CRD# 12963).
Established in Missouri in 1983, Money Concepts Capital Corporation is headquartered in Palm Beach Gardens, Florida and registered with 52 US states and territories. The company is organized as a corporation and its fiscal year ends in December. According to the firm’s BrokerCheck report, Money Concepts Capital Corporation has received three customer complaints and eight regulatory sanctions.
In 2018 a customer alleged Money Concepts Capital Corporation breached its fiduciary duty, committed fraud, misrepresented material facts, misrepresented and omitted material facts, recommended unsuitable investments, violated blue sky laws, breached contract, failed in its supervisory duties, and acted negligently in connection to investments in annuities, common stock, and limited partnerships. The complaint resulted in an award to the customer of more than $971,500.
In 2017 the Ohio Division of Securities sanctioned Money Concepts Capital Corporation in connection to allegations it sold real estate investment trust products in amounts that exceed ten percent of the customer’s liquid net worth, in violation of guidelines set by the investment’s prospectus. The firm agreed to offer restitution to affected investors.
In 2012 a customer alleged the firm acted negligently, failed to execute orders, and engaged in manipulation in connection to investments in annuities, commodities futures, and mutual funds. The complaint resulted in an award to the customer of $10,472.
In 2009 a customer alleged the firm breached its fiduciary duty, breached contract, failed in its supervisory duties, and acted negligently in connection to common stock investments. The complaint resulted in an award to the customer of $80,179.
In 2008 the Kentucky Division of Securities sanctioned the firm in connection to allegations of non-compliance with a registered representative’s heightened supervision agreement in the state. In connection with these findings, the firm contributed $5,000 to the investor protection trust.
In 2007 FINRA sanctioned the firm in connection to allegations it failed to timely report customer related matters and ailed to amend disclosure forms for registered representatives in a timely manner. In connection with these findings, the firm was censured and issued a fine of $13,500.
In 2007 the New Hampshire Bureau of Securities Regulation sanctioned the firm in connection to allegations it failed to comply with a requirement for a designated principal. The company paid administrative costs for the investigation and agreed to refrain from further violations.
In 2006 the State of Nevada sanctioned the firm in connection to allegations involving an unregistered investment representative. The firm was issued a fine of $7,500.
If you or someone you know has lost money investing with Money Concepts Capital Corporation, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.