Moody Securities Sanctioned by FINRA for REIT Sales

The Financial Industry Regulatory Authority (FINRA) accused Houston, Texas-based Moody Securities of violating rules governing underwriting compensation by acting as the wholesaling dealer-manager of the offering of interests in a real estate investment trust (REIT) in which the underwriting compensation exceeded 10% of the offering’s gross proceeds. FINRA also stated that the company’s written supervisory procedures were inadequate. FINRA ordered Moody to pay $350,000 to the investors in the REIT. If you invested in Moody Securities, you may be entitled to recover some of your money. We are a securities law firm based in Chicago, Illinois and we sue firms such as Moody Securities to help retail investors recover some of their financial losses. 312-332-4200.

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