Investment Professionals (IPI) Fined $170,000 by FINRA

Texas-based broker-dealer Investment Professionals Inc. (IPI) has been censured and fined $170,000 by the Financial Industry Regulatory Authority (FINRA). Headquartered in San Antonio, Texas and established in 1992, it had over $8.2 billion in assets under management. FINRA claimed that IPI allegedly failed to supervise nine of its stockbrokers who were reportedly “dually registered” as securities brokers at IPI and as investment advisers at other firms that had no affiliation with IPI. Allegedly, IPI failed to report trades made by the brokers for clients of the advisory firms. Broker-dealers are required to be aware of everything their brokers are doing. IPI also allegedly failed to maintain a supervisory system meant to comply with securities industry rules. In additional, FINRA found IPI didn’t preserve securities-related emails that were sent and received by five of its brokers in a Pennsylvania branch office. Please call our securities law offices today if you invested money with IPI. We may be able to help you recover your investments on a contingency fee basis. The call is free with no obligation. 312-332-4200.

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