Source Capital Group Discloses Customer Disputes and Regulatory Sanctions

Source Capital Group Discloses Customer Disputes and Regulatory Sanctions 150 150 Robert Rex, Esq.

March 2017- Westport, CT

According to publicly available records Source Capital Group, (CRD# 36719) ,  a  broker dealer with headquarters in Westport, CT, discloses 8 prior final regulatory events, one regulatory event that is currently on appeal and 2 prior customer arbitrations.

Source Capital Group has about 130 brokers in 15 branch offices.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In one of the prior customer disputes, FINRA case 16-0147, a customer alleged damages of $810,000 for breach of fiduciary duty, unsuitable investments, failure to supervise, violations of the securities acts of Georgia, Kentucky and Ohio and other claims. The arbitration panel awarded over $1.1 million to the customer.

In July 2014, Source Capital Group was censured and fined $100,000 by FINRA to resolve allegations that through a branch manager, Source sold investments in private offerings of oil and gas securities without adequately disclosing material information to investors. FINRA Case 2008011771602.

If you have questions about an account in an account at Source Capital Group , contact us to discuss your legal options.

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.

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Rex Securities Law

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