UPDATE 4/6/2020: Kimberly Springsteen-Abbott, is the CEO and chair of Commonwealth Capital Corp., the parent of the broker-dealer Commonwealth Capital Securities Corp. according to the company website, and a senior brokerage and private placement executive who was barred from the securities industry in 2015 by the Financial Industry Regulatory Authority Inc., displayed wide-ranging misconduct involving tens of thousands of dollars of expenses charged to private placement funds, and Finra’s banning of her from the industry was in line with industry standards, according to a review of her case released last Friday by the Securities and Exchange Commission. She did not return a call for comment last Friday. Her attorney, Steven M. Felsenstein, declined to comment.
Finra also ordered Ms. Springsteen-Abbott to pay almost $209,000 in disgorgement and a fine of $100,000.
Commonwealth Capital packaged investments in equipment leases into 13 private placement funds that are sold through independent broker-dealers. In the past, Ms. Springsteen-Abbott was also the head of the related broker-dealer, Commonwealth Capital Securities Corp. That position is now held by her husband, Henry Abbott, according to the firm’s BrokerCheck profile.
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Commonwealth Capital Securities Corp. If you suffered losses investing with Commonwealth Capital Securities Corp, then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
Commonwealth Capital Securities Corp (CRD# 39979) (SEC# 8-48915)
As of April 4, 2020, Commonwealth Capital Securities Corp’s FINRA BrokerCheck Report contains the following:
Main Office Location
712 ANCLOTE ROAD, SUITE A
TARPON SPRINGS, FL 34689
UNITED STATES
Mailing Address
712 ANCLOTE ROAD, SUITE A
TARPON SPRINGS, FL 34689
UNITED STATES
Business Telephone Number
877-654-1500
Direct Owners and Executive Officers
HJA TRUST, OWNER, COMMONWEALTH CAPITAL SECURITIES CORP.
ABBOTT, HENRY JOSEPH (CRD#:2676347), CHAIRMAN, CEO, PRESIDENT, NON-OWNER
CAVALIERE, THEODORE JR (CRD#:3074151), DIRECTOR, FINOP, PRINCIPAL FINANCIAL OFFICER, PRINCIPAL OPERATIONS OFFICER, NON-OWNER
DOSTER, BRIAN R (CRD#:6764205), DIRECTOR, TRUSTEE OF HJA TRUST, GENERAL COUNSEL, NON-OWNER
HERSHENSON, MARK ALLEN (CRD#:2252399), SENIOR VICE PRESIDENT, NON-OWNER
PRUETT, JAMES TRAVIS (CRD#:4849769), DIRECTOR, SENIOR VICE PRESIDENT, ANTI-MONEY LAUNDERING COMPLIANCE OFFICER, CHIEF COMPLIANCE OFFICER, NON-OWNER
FINRA requires brokerage firms to conduct due diligence on investments and to conduct a suitability analysis when recommending securities to a customer that takes into account the customer’s knowledge and experience. Brokerage firms that fail to conduct adequate due diligence or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.
If you suffered losses investing with Commonwealth Capital Securities Corp and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
This information is all publicly available and is being provided to you by Galvin Legal, PLLC.
Galvin Legal, PLLC is a national securities arbitration, securities mediation, securities litigation, securities fraud, securities regulation and compliance, and investor protection law practice. For more information on Galvin Legal, PLLC and its representation of investors, please visit www.galvinlegal.com or call 1-800-405-5117.
