Published On: May 15, 2017

From October 1, 2008 through June 30, 2015, Financial West’s written supervisory procedures failed to address many elements of the firm’s due diligence process for private placements. For example, Financial West’s written supervisory procedures did not describe the process for approving private placement offerings and did not describe how or when to evaluate private placement offerings. Moreover, Financial West failed to consistently follow the written procedures that it did have, (i.e. by failing to document the review as described in the procedures.) Firms have an obligation to do due diligence on investments in order to make sure that they are suitable for customers. If the firm does not, it may be liable for investment losses. Please call our Chicago-based securities law firm today at 312-332-4200 to find out how you may be able to recover your losses with Financial West Group because of their abusive private placement sales.

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If you have suffered financial losses because of the negligence or fraud of your financial advisor or broker through unsuitable investment recommendations, over-concentration, churning, misrepresenting risks, conversion or selling away, you have legal rights and options to pursue recovery of those losses.

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