Posted by Page PerryonSeptember 11, 2012
Three former brokers at Atlanta-based securities brokerage firm JP Turner excessively traded (“churned”) customer accounts in order to produce $845,000 in commissions and fees for themselves and the firm, leaving those customers with $2.7 million in losses, according to the SEC.
Categories: Brokerage Firms, Churning, Common Securities Broker Abuses, Investigations, Investment Advisers, Investment Malpractice, Investor Alerts, J P Turner, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Unsuitable Recommendations
Posted by Page PerryonSeptember 10, 2012
The SEC has charged Atlanta-based securities brokerage firm JP Turner & Company, as well as its executive vice-president and head of supervision, Michael Bresner, and its president William Mello, with compliance violations and failure to supervise. JP Turner and Mello have reportedly agreed to settle with the SEC, but administrative proceedings remain pending against three […]
Categories: Brokerage Firms, Churning, Elder Abuses, Fairness/Just & Equitable Conduct, Investigations, Investment Advisers, Investment Malpractice, Investor Alerts, J P Turner, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Unsuitable Recommendations