Wallachbeth Capital allegedly failed to maintain policies to prevent misconduct.
The Sonn Law Group is investigating allegations against Wallachbeth Capital for failing to properly maintain required policies. Under FINRA Rules, brokerage firms are liable for their brokers’ misconduct or negligence and investors may be able to their investment through FINRA arbitration. Contact Sonn Law Group today or call us at 866–827–3202 for a free consultation.
Wallachbeth Capital, LLC is a brokerage firm that was established in New York in 2008.
FINRA alleged that from July 1, 2015 through January 31, 2018, Wallachbeth failed to establish, maintain, and enforce written policies and procedures that were reasonably designed to prevent trade-throughs of protected quotations in NMS Stocks. Specifically, the firm failed to establish procedures that it was employing intermarket sweep orders (“ISOs”) appropriately.
Additionally from October 1, 2016 through September 30, 2017, the firm allegedly failed to use reasonable diligence to provide best execution in 57 instances when sending ISOs during this period.
FINRA imposed a censure and a fine of $60,000.
Jeffrey R. Sonn is an experienced investor losses attorney. If you suffered losses because a financial professional committed acts in violation of FINRA Rules, Mr. Sonn will protect your rights and interests. Please do not hesitate to contact the Sonn Law Group today for a free review of your claim.