August 12, 2015
VCA Securities LP, (formerly Bluffview Securities) entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that the firm failed to establish, maintain and enforce an adequate supervisory system and adequate written supervisory procedures designed to review and monitor the transmittal of funds from customer accounts to third-party accounts.
According to FINRA, between January 2012 and June 2014, processed two unauthorized Letters of Authorization (LOAs) sent from a cyber-hacker of a customer’s email account resulting in over $250,000 in wire transfers from a VCA account to an unauthorized third party bank account.
VCA Securities was censured and fined $35,000. VCA has been a FINRA member since 2004, is headquartered in Dallas, TX, and has 13 registered persons.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
Florida-561 391 1900