Corecap Investments Inc
The law offices of Gana LLP represents investors that have disputes with their financial advisors or brokerage firms, such as Corecap Investments Inc (Corecap). Many investors do not realize when their financial advisor engages in securities misconduct, but there are steps that can be taken to recover losses. There are many different types of securities related misconduct including breach of fiduciary duty, failure to supervise, false representations, and churning. The attorneys at Gana LLP can analyze your investments to determine if there was actionable misconduct by the broker or brokerage firm.
Corecap is an independent brokerage firm that offers a full service variety of financial services to its clients. Corecap is affiliated with, or under common control with the firm Corecap Advisors and Convergence Financial Services, Inc. Corecap Advisors and Corecap Investments Inc, are both owned by their parent company Corecap Holdings Inc. Corecap and Convergence Financial Services, Inc are owned by the same ultimate parent, M & O Capital Inc.
Under FINRA Rule 3010, a brokerage firm owes a duty to all of its customers to properly monitor and supervise its employees. The rule states that “[e]ach member shall establish and maintain a system to supervise the activities of each registered representative…that is reasonably designed to achieve compliance with applicable securities laws and regulations…”
Brokerage firms are responsible for monitoring a broker’s investment recommendations to clients, outside business activities, and representations to investors among other obligations. In addition, brokerage firms are responsible for conducting due diligence on the securities products they sell and devising a written supervisory system to achieve compliance with the securities laws. Below are several ways in which brokerage firms may violate their supervisory responsibilities.
Corecap - By the Numbers:
- CRD #: 37068
- SEC #: 47783
- Regulatory Events: 2
- Customer Complaints: 0
- Employees: 96
Corecap Investments Inc - In the News:
Tracey v. Corecap Investments Inc (Case #: 2003-08-01-C) - The firm was fined a total of $28,000 for their alleged failure to produce and apply a set of written procedures in order to supervise their representatives. Allegedly, the firm also lacked diligent supervision over their agents engaging in securities and securities-related transactions.
California Department of Corporations v. Corecap Investments Inc (Case #: N/A) - The license of a registered broker at Corecap Investment was revoked, due to his failure to pay his mandatory assessment fee.