Roosevelt & Cross, Incorporated entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), based on its reporting strategies to the Real-Time Transaction System (RTRS) from July 1 through September 30, 2013. According to the AWC, Roosevelt failed to report the correct yield to the RTRS in 23 reports of transactions in municipal securities. The firm also allegedly did not provide written notification disclosing accurate yield to customers. The firm’s supervisory system did not provide for supervision to achieve compliance for the identification of persons responsible for supervision with respect to disclosure of yield on a confirmation, a statement of the supervisory steps to be taken by the identified person, a statement as to how often these steps to review yield on a confirmation and statement as to how these steps should be documented. For this, the firm was censured and fined $15,000. Please call us to find out how to sue Roosevelt & Cross at 312-332-4200. We are securities attorneys who concentrate on recovering money for investors who lost money.
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