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FINRA Complaint: South Florida Brokerage Firm Violated Securities Industry Rules

Fusion Analytics Securities LLC (CRD#: 124245/SEC#: 8-65649) is a brokerage firm headquartered in Coral Springs, Florida. The firm is licensed to operate in 12 U.S. states and territories. Originally entering the industry in 2002, Fusion Analytics Securities has five disclosures on its record, including three regulatory events, one arbitration award, and one judgment/lien.

Recently, the Financial Industry Regulatory Authority filed an official complaint against the firm—raising four different specific allegations of misconduct (Disciplinary Proceeding No. 2018058871601). Below, our Miami, FL FINRA arbitration lawyers describe the allegations raised against Fusion Analytics Securities.

  1. Improperly Holding Customer Securities Without Prompt Forwarding

Between August of 2014 and November of 2017, FINRA’s Department of Enforcement alleges that Fusion Analytics Securities improperly held customer securities without promptly forwarding them to the appropriate accounts. By failing to do so, it put customer assets at an unacceptable level of risk. Prompt delivery/forwarding of securities to the proper account is required by securities industry regulations. 

  1. Failure to Maintain Minimum Capital Requirements

Under the net capital rule, registered broker-dealers are required to meet certain minimum capital requirements. Net capital requirements ensure that registered brokerage firms will have enough liquid assets under control. During certain periods, FINRA contends that Fusion Analytics Securities failed to meet its $250,000 minimum net capital requirement. As the firm had an improper financial deficiency, it put investors at risk. 

  1. Creation of Inaccurate Books and Records

Registered brokerage firms must maintain accurate books and records. Detailed, comprehensive record-keeping is crucial to protect the rights and interests of investors. Investors need to be able to put trust in their firm. Should any type of dispute or disagreement arise, investors need to be confident that they can access accurate records to resolve the matter.

  1. Failure to File Financial Notifications

As a consequence of the firm’s failure to meet its minimum capital requirements and its failure to keep accurate books, Fusion Analytics Securities also missed financial notification deadlines. When broker-dealers are short on capital, they must notify the Securities and Exchange Commission (SEC) without delay.

Proposed Sanctions: Fusion Analytics Securities 

Based on the results of its investigation, the FINRA Department of Enforcement is seeking the following forms of relief from the panel:

  • Findings of facts and conclusions of law against the firm; and
  • Imposition of monetary sanctions.

If you are an investor who suffered losses as a result of your brokerage firm’s failure to comply with securities rules, you have options available. Through a FINRA arbitration claim, you may be eligible to recover financial relief for your damages.

Call Our Florida Broker Negligence Lawyers for Help

At ​Carlson & Associates, P.A., our Miami investment fraud attorneys fight hard on behalf of investors. Negligent brokers and broker-dealers need to be held accountable for wrongdoing. If you suffered large financial losses due to brokerage firm misconduct, our investment fraud lawyers are here to help. Contact us now to set up a confidential initial consultation. We represent investors in Miami and throughout Florida.





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