FSC Securities Corp. Investment Attorney
We represent customers of financial advisors in investment disputes against their brokerage or advisory firms, such as FSC Securities Corp. (FSC Securities). Our services and representation covers many different forms of investment related misconduct including churning, suitability, breach of fiduciary duty, and various investment products and services. Our firm can analyze your investment accounts, determine the financial loss, and describe the issues and remedies available in bringing a claim.
FSC Securities Corp. was established in 1958 and is headquartered in Atlanta, Georgia. FSC Securities offers its advisors the benefit from the resources offered by the firm through one of America's largest networks of independent advisors that the firm claims puts the “home” in home office.
FSC Securities Corp. – By the Numbers:
- CRD# 7461
- SEC# 8-21770
- 21 Regulatory Events
- 14 Customer Complaints
- Total Revenues: $263 million – 2012
- Total Account Assets: $35 billion - 2013
- Number of Retail Offices: 713 - 2012
- Representatives: 1,261 - 2013
FSC Securities Corp. – In the News:
NASD v. FSC Securities Corp., et al – NASD imposed fines totaling more than $34 million on 15 broker-dealers concerning allegations of the receipt of directed brokerage in exchange for preferential treatment for certain mutual fund companies. FSC Securities fine was $2.4 million. All of the cases involve allegations of violations of NASD's Anti-Reciprocal Rule prohibiting firms from favoring the sale of shares of particular mutual funds on the basis of brokerage commissions received by the firm. The rule prohibits a firm from recommending specific funds to sales personnel or establish preferred lists of funds in exchange for directed brokerage. The NASD found that the 14 retail firms operated "preferred partner" or "shelf space" programs that provided certain benefits to a relatively small number of mutual funds in return for directed brokerage. The benefits to the mutual funds included higher visibility on the firms' internal websites, increased access to the firms' sales forces, participation in "top producer" or training meetings, and promotion of their funds on a broader basis.
FINRA v. FSC Securities Corp., et al - FINRA fined 25 broker-dealers a total of $2,145,000 for failures related to their completion of FINRA's firm self-assessment of mutual fund breakpoint discount compliance. FSC Securities’ fine was $15,000. FINRA’s self-assessment required firms that sold front-end load mutual funds to review their compliance in providing breakpoint discounts to customers and report those results to FINRA. Breakpoint discounts are volume discounts offered by mutual funds selling funds containing front-end sales charges on Class A mutual fund shares. A break-point sale allows the investor to pay fewer commission dollars. The self-assessment followed findings by NASD and other regulators that nearly one in three mutual fund transactions that appeared eligible for a breakpoint discount did not receive one.
Our attorneys has successfully represented hundreds of investors in their broker disputes with their advisor firms. Our consultations are free and we welcome all inquiries.