Associated Securities Corp. Complaint & Legal Claims Center

Do you have a claim against Associated Securities?

Important Information You Should Know:

Associated Securities is a securities brokerage firm which is licensed by FINRA.
Firms licensed through the Financial Industry Regulatory Authority, formerly the National Association of Securities Dealers (NASD), must comply with securities regulations and federal and state securities laws. When these firms violate regulations or laws they can face actions by regulators or by federal or state criminal prosecutors.

Very few “securities police” have the impossible duty to attempt to govern billions of dollars
in transactions each year, handled by hundreds of thousands of salespersons nationwide at thousands of securities firms. Approximately 660,000 registered salespersons at 5,300 securities firms handle hundreds of millions of transactions annually for over 60 million investors. It is impossible for securities regulators to police this activity.

Securities regulators and officials do not often recover losses for victims of securities fraud. Just as police give tickets and motorists usually hire attorneys to recover damages, victims of securities fraud hire attorneys to recover their losses. As well, claims against brokerage firms including Associated Securities, can be for securities fraud, or for breach of duty, breach of contract, negligence and other claims not covered by securities regulations or statutes.

Claims against brokerage firms are almost always determined in securities arbitration.
When an account is opened at securities firms including Associated Securities, investors sign documents which include agreements to arbitrate any dispute. The U.S. Supreme Court decided in 1987 that securities arbitration agreements are enforceable. Arbitration is a private proceeding which takes the place of court actions. Appeals of arbitration decisions to court are very limited and usually unsuccessful.

Investors represented by an attorney in securities arbitration are much more successful. Statistics prove that investors who file claims with the assistance of an attorney recover twice as often as those not represented. Only a small percentage of lawyers have ever represented an investor in arbitration and very few law firms nationwide have extensive experience with securities arbitration cases.

To learn whether you can recover losses through a claim against Associated Securities
Contact Shepherd Smith Edwards & Kantas LTD LLP law firm for a free consultation with an attorney.

About Shepherd Smith Edwards & Kantas LTD LLP Law Firm:

Our law firm represents institutional and individual investors nationwide who have lost a substantial portion of their retirement or other assets. Our attorneys and staff have more than 100 years of combined experience in the securities industry and in securities law. Several of our lawyers and staff members served for years as a Vice President or Compliance Officer of major brokerage firms.

Each lawyer and staff person at our firm is devoted to assisting investors to recover losses caused by unsuitability, over-concentration, fraud, misrepresentation, self-dealing, unauthorized trades or other wrongful acts, whether intentional or negligent. We have handled thousands of cases against hundreds of large and small investment firms, including claims against firms such as Associated Securities


Additional Information
Reporting Source: Regulator
Allegations: NASD RULES 2110, 3010, 6220(A), 6230(B) - ASSOCIATED SECURITIES
CORP. EXECUTED TRANSACTIONS IN TRACE-ELIGIBLE SECURITIES THAT
IT WAS REQUIRED TO REPORT TO TRACE BUT FAILED TO EXECUTE A
TRACE PARTICIPATION AGREEMENT AND THEREFORE, WAS NOT
ELIGIBLE TO PARTICIPATE IN TRACE; FAILED TO REPORT TO TRACE ALL
OF THE TRANSACTIONS IN TRACE-ELIGIBLE SECURITIES IT WAS
REQUIRED TO REPORT; AND THE FIRM'S SUPERVISORY SYSTEM DID NOT
PROVIDE FOR SUPERVISION REASONABLY DESIGNED TO ACHIEVE COMPLIANCE WITH APPLICABLE SECURITIES LAWS, REGULATIONS AND
NASD RULES CONCERNING TRACE.
Date Initiated: 10/26/2006
Docket/Case Number: 20050008441-01
Resolution Date: 10/26/2006
Resolution:
Other Sanctions Ordered:
Sanction Details: WITHOUT ADMITTING OR DENYING THE FINDINGS, THE FIRM CONSENTED
TO THE DESCRIBED SANCTIONS AND TO THE ENTRY OF FINDINGS;
THEREFORE, THE FIRM IS CENSURED AND FINED $15,000.
Does the order constitute a
final order based on
violations of any laws or
regulations that prohibit
fraudulent, manipulative, or
deceptive conduct?
No
Sanctions Ordered: Censure
Monetary/Fine $15,000.00

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