Investment Loss Claims Against New England Securities, Inc.
| November 19, 2019
Securities Fraud Lawyers Help Recover Your Losses
New England Securities is a FINRA and SIPC member as well as an SEC-registered investment firm. New England Securities is a subsidiary of MetLife, one of the nation’s largest and most reputable financial companies, that offers mutual funds, 529 college savings plans, brokerage accounts, alternative investments, qualified retirement plan solutions and advisory accounts.
This brokerage firm operates in all 50 states as well as Washington D.C. and Puerto Rico. If you invested your hard-earned money with New England Securities and you lost more than $75,000 in investments, you may have a misconduct claim against your broker so that you can recover your losses. If this is the case, an investment fraud attorney at Meyer Wilson may be able to help you.
New England Securities Fraud & Broker Misconduct
New England Securities, like many other investment firms, have been the subject of securities industry disciplinary action for various types of misconduct. For example, in 2004, NASD fined New England Securities along with 28 other investment firms for failing to report on time. In this particular instance, late reporting was present in 57 percent of all cases with a total of 180 late disclosures.
The investment firm was fined $200,000. Timely reporting isn’t just good form, it’s essential. Failing to report on time is a violation of securities industry regulations. When reporting is delayed, investors miss out on pertinent information they must know before investing, such as customer complaints, regulatory actions and criminal actions.
In 2006, MetLife and some of its affiliates, including New England Securities, were fined a total of $5 million for providing incorrect and misleading information. This conduct was in direct violation of NASD regulations. These failures were allowed to continue for over one year.
There were two instances where New England Securities was fined in 2009, once in March and another in November. In March of 2009, New England Securities and 24 other broker firms were fined $2.1 million for failures in their review process for mutual funds as well as other securities industry violations. In November, the firm was fined over one million dollars due to email supervisory failures.
Retain a Securities Arbitration Attorney from Meyer Wilson
Did you invest your money with New England Securities? If you did, and you lost a substantial amount of money because of fraud or related misconduct, please do not hesitate to contact our firm. At Meyer Wilson, our lawyers are equipped to handle these types of cases in federal and state courts, and in arbitration through The Financial Industry Regulatory Authority (FINRA), the American Arbitration Association (AAA) and private arbitration. For a free and confidential consultation with an attorney, call our firm today!