Did you suffer investment losses with Fusion Analytics Securities (f/k/a Index Securities) (CRD# 124245) (SEC# 8-65649)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Fusion Analytics Securities (f/k/a Index Securities). If you suffered losses investing with Fusion Analytics Securities (f/k/a Index Securities), then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
As of June 6, 2020, Fusion Analytics Securities (f/k/a Index Securities)’s FINRA BrokerCheck Report contains the following:
3 Regulatory Event Disclosures
1 Arbitration Disclosures
UPDATE 6/26/2020: According to FINRA’s June 2020 Disciplinary Actions: Fusion Analytics Securities LLC (CRD #124245, Coral Springs, Florida) April 10, 2020 – The firm was named a respondent in a FINRA complaint alleging that it willfully violated Section 15(c) of the Securities Exchange Act of 1934 and Rule 15c3-1 thereunder by conducting a securities business while failing to maintain the minimum required net capital. The complaint alleges that the firm held customer securities, without promptly forwarding or delivering them. As a result, the firm was required to maintain $250,000 minimum net capital but failed to do so. The complaint also alleges that the firm willfully violated Section 17(a) of the Exchange Act and Rule 17a-11 thereunder by failing to provide notice of its net capital deficiencies to the SEC or FINRA on days that it was net capital deficient. The complaint further alleges that the firm willfully violated Section 17(a) of the Exchange Act and Rule 17a-5 thereunder by filing inaccurate quarterly Financial and Operational Combined Uniform Single (FOCUS) reports. The firm inaccurately recorded its minimum net capital requirement, inaccurately recorded its shares of a stock as an allowable asset and did not accrue expenses for its email retention provider, for a market data subscription and order entry system, certain legal expenses, certain salaries and one of its offices. In addition, the complaint alleges that the firm willfully violated Section 17(a) of the Exchange Act and Rule 17a-3 thereunder by making and preserving inaccurate books and records. The firm made and preserved inaccurate balance sheets, trial balances, general ledgers and net capital computations. (FINRA Case #2018058871601)
Main Office Location
7301 WILES ROAD
SUITE 102
CORAL SPRINGS, FL 33067
USA
Mailing Address
7301 WILES ROAD
SUITE 102
CORAL SPRINGS, FL 33067
USA
Business Telephone Number
954-345-2888
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Fusion Analytics Securities (f/k/a Index Securities)’s Direct Owners and Executive Officers
FUSION ANALYTICS HOLDINGS, LLC, OWNER
CONTE, MICHAEL JAMES (CRD#:2646071), CHIEF EXECUTIVE OFFICER
MEGENITY, BRIAN MCDONALD (CRD#:2889637), CCO, FINOP, PRINCIPAL FINANCIAL OFFICER, PRINCIPAL OPERATIONS OFFICER
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Due Diligence Requirement
FINRA requires broker-dealers 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. FINRA Rule 2111(a) states that “a member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile. A customer’s investment profile includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance, and any other information the customer may disclose to the member or associated person in connection with such recommendation.”
Rule 2111 is composed of three main obligations: reasonable-basis suitability, customer-specific suitability, and quantitative suitability. Broker-Dealers that fail to conduct adequate due diligence on investments they recommend or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Request a Free Consultation with a Securities Attorney
If you suffered losses investing with Fusion Analytics Securities (f/k/a Index Securities) 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.
