Investor Lawyers Blog
Securities fraud lawyers are currently investigating claims on behalf of the customers of Berthel Fisher & Co. Financial Services Inc. and Securities Management & Research Inc., a Berthel Fisher affiliate in Marion, Iowa. In February, the Financial Industry Regulatory Authority (FINRA) announced that it had fined the two a total of $775,000 for supervisory deficiencies. The deficiencies included Berthel Fisher’s failure to properly supervise the sale of leveraged and inverse exchange-traded funds and non-traded real estate investment trusts.
According to the FINRA investigation’s findings, Berthel Fisher did not have adequate written procedures and supervisory systems in place from January 2008 to December 2012 for the following alternative investments:
- Non-traded REITs