Tr?id=566623520170033&ev=PageView&noscript=1

FINRA Bars Alpine Securities Over Allegations Over Misappropriation and Excessive Fees

Posted on March 31st, 2022 at 1:30 PM
FINRA Bars Alpine Securities Over Allegations Over Misappropriation and Excessive Fees

From the Desk of Jim Eccleston at Eccleston Law:

The Financial Industry Regulatory Authority (FINRA) has barred a Salt Lake City-based advisory firm, Alpine Securities, from the industry and has ordered the firm to pay nearly $2.3 million in restitution.


FINRA alleged that Alpine misappropriated client funds, charged excessive fees, and completed several unauthorized trades. According to FINRA’s complaint, Alpine Securities began to face financial challenges in 2018 when the firm was defending itself against a Securities and Exchange Commission (SEC) suit alleging that it had violated securities laws. Alpine allegedly informed clients that the firm was forced to retract its retail business and would issue a $5,000 monthly account fee on clients who fail to close their accounts.


According to FINRA, Alpine failed to provide its clients with sufficient notice while clients struggled to receive answers to their questions as the firm completed staffing cuts. The FINRA hearing panel determined that the $5,000 monthly account fee was unreasonable while estimating that Alpine clients lost at least $2 million.


Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters.

 
 

Tags: eccleston law, finra, sec

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

Thank you for your professional assistance with this matter. You are very good at what you do.

John T.

LATEST NEWS AND ARTICLES

1790355869 Law
September 25, 2026
SEC Bars Advisor for Unauthorized Trades and Client Data Misuse

A California-based investment adviser has agreed to a three-year industry bar and $266,000 in monetary sanctions after the Securities and Exchange Commission (SEC) accused him of making unauthorized trades, transferring confidential client information to a newly launched registered investment adviser, and concealing his termination from a former...

1790276008 Law
September 24, 2026
FINRA Proposes Expanded Fraud Protections and Trusted Contact Flexibility

The Financial Industry Regulatory Authority (FINRA) has sent three proposed rules to the Securities and Exchange Commission (SEC) for approval.

1790182800 Law
September 23, 2026
SEC Warns Investors About Pre-IPO Investment Scams

The SEC's Office of Investor Education and Advocacy (OIEA) has issued an Investor Alert warning investors about scams that falsely offer opportunities to purchase "pre-IPO" shares of companies.