Moors & Cabot, Inc.
Investment Fraud Lawyers Can Recover Your Losses
Moors & Cabot, Inc. retails stocks and bonds to individuals. The company
also offers investment tools such as cash management accounts, retirement
planning, mutual funds, annuities, and professional money management services.
Founded in 1890 by John F. Moors and Charles Cabot, Moors & Cabot
is one of the nation's oldest independent members of the New York
Stock Exchange. With its headquarters in Boston, MA, Moors & Cabot
has over 23 branch offices and over 150 registered representatives nationwide.
Your Right to Reclaim Damages
Moors & Cabot, Inc. is a member of the Financial Industry Regulatory
Authority, or FINRA. As a member, they are subject to FINRA laws, which
are designed to protect investors. One such law dictates that
Moors & Cabot, Inc. are responsible for supervising their brokers to ensure that they are trading in ways that are trackable, ethical, and
in the interest of their clients. If an unscrupulous or negligent broker
is unsupervised, they will cause losses and damages to their investors.
If this is the case, FINRA gives investors the right to hold firms like Moors & Cabot
legally liable to provide reparations for their losses.
Moors & Cabot are a relatively smaller firm, especially considering
their long history as an institution. As such, they have an easier time
supervising their brokers than other firms 10 times their size. However,
despite that advantage, Moors & Cabot still face fairly frequent action,
much of it from 2005-2012. In 2012,
they were fined nearly $50,000 for failing to comply with the Order Audit
Trail System (OATS), submitting hundreds of inaccurate or incomplete reports. The OATS is
designed to allow FINRA to track a transaction down to the second it occurred.
Such accountability is important to the health and accountability of the
In addition, Moors & Cabot were fined $165,000 for failing to train
officers in Anti-Money Laundering (AML) measures, and failed to implement
those measures in any meaningful way. By failing to protect their firm
from money laundering practices, they essentially put the entirety of
their investors’ assets at risk. In particular,
they failed to train their AML Compliance Officer, whose job is to protect the firm from these very things. Brazen lack
of oversight and preparation like this is not only risky, it’s completely
Get Started Today with a Free Consultation
If you’ve suffered significant damages because you invested with
Moors & Cabot, Inc., FINRA has given you the right to pursue a claim
against the firm directly for the actions of its brokers, even if the
broker no longer represents them. However,
FINRA will not fight on your behalf – they are a police force for the financial industry, so their aim
is enforcement and punishment.
That’s where Meyer Wilson steps in. Our investment law attorneys’ sole aim is to recover losses on
behalf of the clients we represent. When you work with us, you’re
allying yourself with a firm that has the experience and resources to
go head-to-head with the largest investment firms in the country. Our
history speaks for itself –
we reclaimed over $350 million for our clients.
To determine whether you have a case against Moors & Cabot, Inc. for
your losses, call us toll-free or complete our online form for a
free case evaluation.