Investor Alert: WestPark Capital, Inc. was censured and fined $30,000 for reporting ROEs with inaccurate reporting exception codes
FINRA Sanctions & Allegations of Misconduct
FINRA censured and fined $30,000 WestPark Capital, Inc. (CRD #39914) from Los Angeles, California for reporting Reportable Order Events (ROEs) with inaccurate reporting exception codes, inaccurate order receipt times, inaccurate capacity codes and/ or inaccurate account type codes. In addition, the firm failed to establish and maintain a supervisory system, including WSPs, reasonably designed to achieve compliance with applicable SEC and FINRA rules regarding OATS reporting and disclosure on customer confirmations.
Investors Have the Right to Recover Their Losses
When investments are sold by brokerage firms licensed by FINRA, they are subject to the laws that FINRA enforces. The brokerage firms are responsible for ensuring that their brokers are trading fairly, ethically and in the best interest of their clients. Ideally, they would accomplish this through careful supervision. Unfortunately, too often this supervision has been inadequate to fully protect investors. If you purchased any investments through a representative of a registered brokerage firm and suffered losses through negligence or fraud, it immediately puts the brokerage firm at fault for failing to supervise their broker. FINRA law then dictates that you can hold the firm legally liable to recover your damages.
Can I recover my investment losses?
If you lost a substantial portion of your retirement savings or other assets as a result of investments purchased through WestPark Capital, Inc., please contact us immediately. Our investment fraud lawyers have recovered millions of dollars from the largest banks, insurance companies, and brokerage firms in the world on behalf of investment fraud victims. You may have certain legal rights that require your immediate attention. Time is of the essence in these claims. The sooner you act, the greater your chances of recovering your investment losses. Don't wait. Contact us TODAY for a FREE Consultation and case evaluation. We will tell you if you have a viable claim worth pursuing.