Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on June 9, 2017 indicate that New York-based brokerage firm The Benchmark Company was recently sanctioned by FINRA in connection to alleged rule violations. Fitapelli Kurta is interested in speaking to investors who have complaints regarding The Benchmark Company (CRD# 22982).
Established in Delaware in 2003, The Benchmark Company is headquartered in New York, New York and registered with 50 US states and territories. William Maksudian is Chief Financial Officer; Richard Messina is President; and Mildred O’Donnell is Chief Compliance Officer. The firm is registered with the Securities and Exchange Commission, FINRA and three other self-regulatory organizations.
According to the BrokerCheck report, The Benchmark Company was recently sanctioned by FINRA.
In March 2017 FINRA sanctioned the firm following allegations that “In 101 instances during the review period, the firm accepted and held 58 customer orders, traded for its own account at prices that would have satisfied the customer orders, and failed to execute or immediately execute the customer orders in OTC Equity Securities up to the size and at the same price at which it traded for its own account or at a better price.” A letter of Acceptance, Waiver and Consent (No. 20130367077) signed by the firm states further: “In 39 of the above instances, the firm also failed to make every effort to cross a marketable customer order with another order received by the firm on the opposite side of the market. Further, on 27 occasions cited above as involving a trading ahead violation, the firm failed to execute a marketable customer order fully and promptly… The conduct described in this paragraph constitutes separate and distinct violations of FINRA Rules 5320 and 2010.” The firm was censured and issued a fine of $20,000.
If you or someone you know has lost money investing with The Benchmark Company, call the experienced attorneys at Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.