Newbridge Securities Fined for Bond Transaction Issues

Posted on December 9th, 2014 at 5:38 PM
Newbridge Securities Fined for Bond Transaction Issues

From the Desk of Jim Eccleston at Eccleston Law Offices:

FINRA has fined Newbridge Securities Corporation for violating various rules relating to corporate bond transactions and customer trading activities.

According to FINRA:

  • In 31 transactions in 2009, Newbridge bought and sold corporate bonds and charged unfair prices.
  • The firm’s supervisory system did not provide for supervision reasonably designed to achieve compliance with applicable securities laws and regulations, concerning bond transactions with customers.
  • In 50 instances in 2010, Newbridge failed to execute orders fully and promptly and in 18 of those transactions Newbridge failed to use reasonable diligence to obtain the best price for the customer.
  • Newbridge, on 63 occasions, provided written information to customers that failed to disclose information or disclosed inaccurate information.

For those violations, FINRA fined Newbridge $138,000.

The attorneys of Eccleston Law Offices represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 50 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston

Tags: FINRA, Newbridge Securities Corporation, Securities

Return to Archive

TESTIMONIALS

Previous
Next

You guys are good!

Mike L.

LATEST NEWS AND ARTICLES

October 15, 2021
FINRA Bars Former LPL Advisor Who Allegedly Misappropriated Elderly Client’s Funds

The Financial Industry Regulatory Authority (FINRA) has barred a former LPL advisor who allegedly misappropriated a senior client’s funds and subsequently failed to cooperate in FINRA’s investigation.

October 14, 2021
NASAA Targets Unpaid Arbitration Awards With Proposed New Model Rules

The North American Securities Administrators Association (NASAA) has proposed new rules in an attempt to reduce the large number of arbitration awards that go unpaid to investors who prevail as claimants in arbitration proceedings.

October 13, 2021
SEC Freezes Assets and Halts Alleged Fraudulent Scheme By Ron Harrison

The Securities and Exchange Commission (SEC) has obtained an emergency court order freezing the assets of Ron Harrison, who allegedly operated an ongoing fraudulent scheme.