RBC Capital Markets Corporation, Fagenson & Co., Alpine Securities Corp., Equity Station and Olympus Securities Fined $385,000 By FINRA For Sale 8 Billion Shares of Unregistered Penny Stocks, Including Universal Express, Inc.
The Financial Industry Regulatory Authority (FINRA) has fined five broker-dealers, RBC Capital Markets Corporation, Fagenson & Co., Alpine Securities Corp., Equity Station and Olympus Securities for allegedly selling billions of shares of Universal Express Inc.’s unregistered stock and unregistered shares of other penny stocks, according to a FINRA regulatory press release.
Fagenson & Co., RBC Capital Markets, Alpine Securities, Equity Station and Olympus Securities reportedly failed to take appropriate steps to determine whether the securities could be sold without violating federal registration requirements, despite purported red flags indicating that illegal stock distributions might have been taking place.
Fagenson & Co., RBC Capital Markets, Alpine Securities, Equity Station and Olympus Securities consented to pay the fines to settle the securities fraud allegations, but neither admitted nor denied the securities fraud charges.
For more information on the RBC Capital Markets Corporation, Fagenson & Co., Alpine Securities Corp., Equity Station and Olympus Securities FINRA regulatory action, read the Letters of Acceptance, Waiver and Consent:
- Fagenson & Co. Action
- RBC Capital Markets Corporation Action
- Alpine Securities Corporation Action
- Equity Station Inc. Action
- Olympus Securities, LLC Action
If You Lost Money In Your RBC Capital Markets Corporation, Fagenson & Co., Alpine Securities Corp., Equity Station and Olympus Securities Brokerage Account and Believe Your Stock Broker, Advisor or Investment Consultant May Be To Blame, Contact A Stock Broker Fraud & Securities Arbitration Attorney.
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