Investors Capital Corporation
Gana LLP and its securities litigation attorneys represent investors who have suffered losses due to mistreatment by their brokerage firms and advisors. Broker malfeasance covers many different types of misconduct and failures to properly adhere to industry rules and standards. Our firm’s investment fraud attorneys are committed to helping you analyze your account statements and determine if there has been any misconduct such as churning, unauthorized trading, unsuitable asset allocation, or securities fraud.
Founded in 1992, Investors Capital Corporation (Investors Capital) operates out of in Lynnfield, MA. Investors Capital is an independent broker dealer with over 350 branches nationwide. On July 11, 2014 RCS Capital Corporation completed its acquisition of Investors Capital Holdings Ltd., the parent company of Investors Capital. The acquisition helped make RCS Capital Corporation one of the largest brokerages in the United States.
Investors Capital is affiliated with, under common control, or otherwise performs business on the company names: RCS Capital Corporation, RCS Capital Holdings LLC, First Allied Securities Inc., Legend Equities Corporation, Cetera Advisors LLC, Cetera Advisor Networks LLC, Cetera Investment Services LLC, J.P. Turner & Company L.L.C., and Summit Brokerage Services Inc..
Investors Capital Corp. – By the Numbers:
- CRD# 30613
- SEC Number 8-45054
- Number of Representatives: 471 as of 2013
- Total Revenues: $93 million as of 2013
- Assets under Management: $8.8 billion as of 2013
- 19 Regulatory Events as of 2014
- 13 Customer Arbitrations as of 2014
State of New Hampshire v. Investors Capital Corp., Case No. I-2013000011 – Investors Capital Corp agreed to pay a fine of $125,000 and to permanently cease making unsolicited telemarketing calls to New Hampshire residents regarding the sale of and unsuitable investments in the form of Non-Traded REITs.
FINRA v. Investors Capital Corp., Case No. 2011025319501 by acceptance, waiver, and consent (AWC) Investors Capital agreed to pay a fine of $100,000 for its failure to conduct proper due diligence regarding the improper and unsuitable recommendation of private placements.
FINRA v. Investors Capital Corp., Case No. 2007011545201 Investors Capital entered into an AWC with FINRA regarding findings that it violated NASD Rules 2110 and 3010(a) and IM-2210-8. During 2006 and 2007, Investors Capital failed to establish or maintain adequate supervisory systems relating to the marketing of investments in retail collateral mortgage obligations. Pursuant to the AWC, Investors Capital was fined $200,000.
Gana LLP has represented hundreds of customers in investment similar disputes with their brokerage firms. Our attorneys can help you detect and uncover suspicious activity in your investment portfolio. Our consultations are free and we welcome all inquiries.