Ace Diversified Capital, Inc. – FINRA Censures and Fines Ace Diversified Capital, Inc. | Goodman & Nekvasil P.A. May Recover Investor Losses
According to FINRA:
From July 2013 through August 2015 (the “Relevant Period”), Ace failed to reasonably supervise a former representative’s sale of non-traditional exchange-traded funds (“ETFs”) and exchange-traded notes (“ETNs”) to his customers. The firm also failed to establish a supervisory system, including written supervisory procedures, reasonably designed to detect potential excessive trading. The firm also failed to establish and maintain a reasonable supervisory system, including written supervisory procedures, concerning the approval of options accounts. Based on the foregoing, the firm violated NASD Rules 3010(a) and (b) (before December 1, 2014), FINRA Rules 3110(a) and (b) (for conduct on or after December 1, 2014), and FINRA Rule 2010.
During the Relevant Period, the firm also accepted options orders in an account that was not approved for options trading by a Registered Options Principal or a Limited Principal—General Securities Sales Supervisor. That account was located in a branch office with more than three registered representatives and whose principal supervisor (the branch manager) was not qualified to supervise an options business. The firm’s written procedures were unreasonable because they did not require the branch’s principal supervisor to obtain the necessary qualifications to supervise the branch’s options business. Accordingly, the firm violated FINRA Rules 2360(b)(16)(A), (20)(A), and (20)(B), as well as FINRA Rule 2010.
Investors with Ace Diversified Capital, Inc. May Recover their Losses with Goodman & Nekvasil, P.A.
If you invested with Ace Diversified Capital, Inc. Goodman & Nekvasil, P.A. may help you. Goodman & Nekvasil, P.A., a Clearwater, Florida, law firm with a national practice representing victimized investors, has recovered more than $180 million dollars on behalf of victimized investors.
All our cases are handled on a purely contingency fee basis by Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA. Kalju Nekvasil, Esq. has practiced in this area of the law for more than 35 years.
There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
If you incurred investment losses in Ace Diversified Capital, Inc. and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
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