Parkland Securities, LLC (“Parkland Securities”) (CRD#115368), headquartered in Ann Arbor, Michigan, has faced complaints and regulatory proceedings involving its brokerage operations. The Law Offices of Robert Wayne Pearce, P.A. has investigated Parkland Securities, its regulatory history, and customer complaints and has represented investors pursuing claims involving fraud, negligence, breach of fiduciary duty, and other securities misconduct.
If you lost money because of misconduct by a Parkland Securities broker or financial advisor, an experienced investment fraud lawyer can review your account and explain your potential recovery options.
Many brokerage-account agreements require disputes to be resolved through FINRA arbitration rather than traditional court litigation. Investors should act promptly because securities claims are subject to FINRA eligibility requirements and other state or federal legal deadlines.
Can I Sue Parkland Securities?
Yes, you may be able to pursue a claim against Parkland Securities if you suffered investment losses because of actionable misconduct by the firm or one of its financial professionals.
Many brokerage agreements require customer disputes to be resolved through arbitration rather than traditional court litigation. An arbitration agreement generally determines the forum in which the dispute will be heard; it does not necessarily eliminate an investor’s right to seek compensation.
An experienced FINRA arbitration lawyer can investigate your account activity, review the broker’s recommendations and the firm’s supervisory practices, calculate your investment losses, prepare the Statement of Claim, and represent you throughout the arbitration process.
How to Sue Parkland Securities for Investment Losses
What Can I Do If I Lost Money at Parkland Securities?
If you’ve experienced investment losses at Parkland Securities due to broker misconduct, filing a FINRA arbitration claim is your most viable path to recovery. FINRA arbitration is a legal process where investors present evidence of wrongdoing – such as unsuitable investment recommendations, excessive trading (churning), unauthorized transactions, or misrepresentations – to a panel of arbitrators who determine whether the brokerage firm owes you compensation.
The regulatory violations and supervisory failures documented throughout Parkland Securities’ history directly affect how brokers at the firm may have handled your account. For example, FINRA fined Parkland Securities $20,000 for failing to establish proper supervisory systems for complex leveraged ETF products, meaning brokers may have sold you unsuitable investments without proper oversight. The firm’s repeated censures for lax supervision across multiple product types suggest a pattern: inadequate oversight creates an environment where individual investors suffer losses from broker misconduct that should have been prevented.
Even if you signed an arbitration agreement when opening your account, you retain the right to pursue claims for your losses – arbitration simply means the dispute is resolved through FINRA’s forum rather than a courthouse. The Law Offices of Robert Wayne Pearce has extensive experience handling FINRA arbitration cases against independent broker-dealers like Parkland Securities, particularly cases involving supervisory failures, unsuitable investments, and the types of violations that have plagued this firm.
Who Can Help Me Sue Parkland Securities?
Recovering investment losses from Parkland Securities requires specialized knowledge of securities law, FINRA arbitration procedures, and the regulatory history of independent broker-dealers. The Law Offices of Robert Wayne Pearce focuses exclusively on representing investors in securities fraud cases and has successfully handled hundreds of FINRA arbitration matters against firms with supervisory deficiencies similar to those at Parkland Securities. A securities attorney can gather evidence, present your case effectively, and navigate the complexities of proving broker misconduct and firm liability.
What is Parkland Securities?
Parkland Securities (CRD#115368) is a registered broker-dealer headquartered in Ann Arbor, Michigan.
Investors near the firm’s headquarters who believe they suffered securities-related losses can review the firm’s resources for an Ann Arbor investment fraud lawyer. Investors elsewhere in the state can speak with a Michigan investment fraud lawyer about their potential recovery options.
Parkland Securities operates as an independent broker-dealer providing securities products and services through registered financial professionals.
As a registered broker-dealer, Parkland Securities is subject to applicable securities laws and industry rules and must maintain supervisory systems reasonably designed to oversee its registered representatives and protect customers.
Why Does Parkland Securities Have So Many Bad Reviews and Customer Complaints?
Broker-dealers operating networks of geographically dispersed financial professionals have substantial supervisory responsibilities.
Those responsibilities may include reviewing new accounts, investment recommendations, securities transactions, customer correspondence, outside business activities, private securities transactions, complaints, and transfers of customer funds.
When supervisory systems are inadequate or procedures are not properly enforced, unsuitable investment recommendations, unauthorized activity, excessive trading, misleading statements, conflicts of interest, or other misconduct may go undetected.
Investors who experience unexplained losses or questionable account activity should carefully review their account statements, trade confirmations, correspondence, investment documents, and communications with their financial professionals.
A brokerage firm’s regulatory history may provide useful context when evaluating an investor’s account, but the existence of regulatory proceedings alone does not establish that every customer experienced misconduct.
Parkland Securities Has Many Different Regulatory Problems
Parkland Securities has a history of regulatory disclosure events involving securities regulators and self-regulatory organizations.
Its BrokerCheck record reflects regulatory matters addressing supervision, securities sales practices, communications with customers and the public, private securities transactions, and other compliance obligations.
There have also been customer disputes involving financial professionals associated with the firm.
A Brief Overview of Some of the Regulatory Problems Parkland Securities Has Faced Over the Years*
Parkland Securities has been repeatedly censured, warned, and fined for its own misconduct and failure to supervise its army of financial advisors.* A few of the notable FINRA Sanctions for its Supervisory Failures are below:
Parkland Securities Censured and Fined by FINRA for Lax Supervisions Concerning ETFs
Brief Overview: Without admitting or denying the findings, Parkland Securities consented to the sanctions and to the entry of FINRA findings that it failed to establish, maintain, and enforce a supervisory system reasonably designed to achieve compliance with securities laws, regulations, and FINRA rules applicable to the sales of leveraged, inverse, and inverse-leveraged exchange-traded funds (ETFs). FINRA stated that prior to receiving an exam report, no written materials were created to provide guidance to representatives on determining the suitability of leveraged, inverse, and inverse-leveraged ETF products. The firm also failed to train its representatives regarding the unique risks and features of these products and failed to have reasonable procedures or a system in place to detect potentially unsuitable transactions involving them. The violations were aggravated by the fact that the firm represented to FINRA that it would implement specific corrective measures to cure these deficiencies but failed to implement the measures in the timeframe anticipated by FINRA based on the firm’s representations. FINRA fined Parkland Securities $20,000 for its misconduct.
Securities Commissioner of Kansas Fines Parkland Securities for Agent’s Selling Away or Promissory Notes
Brief Overview: The Securities Commissioner of Kansas alleged that the firm failed to discover that an agent they controlled was selling away. Had the firm taken reasonable measures, it could have known about the non-compliance, and was, therefore, disciplined to the same extent as the agent. The firm was ordered to retain an outside consultant to provide a report concerning policies and procedures for supervision of registered representatives. And the firm was ordered to pay a $75,000.00 fine and $115,000.00 in restitution.
NASD Censures and Fines Parkland Securities for Violating Rules Concerning Communications with the Public
Brief Overview: According to the NASD’s allegations, Parkland Securities, acting through an employee, published advertising literature that omitted material information, were not fair and balanced, and made exaggerated claims. Specifically, the NASD found that the communications with the public used in seminars were alleged to be not fair & balanced and that they contained exaggerated claims. As a result, the firm was censured and fined $7,500.
*Above are only some of the regulatory disciplinary actions filed against Parkland Securities by FINRA. NASAA and other state securities regulator investigations and enforcement actions account for another 8 BrokerCheck disclosures.
Did Parkland Securities Advisor Misconduct Cause You Investment Losses?
When financial advisor misconduct has caused you to lose substantial value to your investment accounts, you have the right to seek reimbursement from the responsible parties. Parkland Securities is responsible like any employer for its financial advisors acts and omissions. In addition, it has an independent duty to supervise its stockbrokers and investment advisors. These cases can be extremely complex, and so having the support of a reputable attorney who is experienced in recovering investment losses for investors is key to your success. Many customers make the mistake of contacting Parkland Securities without representation with an attorney about their complaints and have their complaints denied.
Related Read: Can You Sue Your Brokerage Firm?
Consult With An Attorney Who Recovers Investment Losses Caused By Parkland Securities Today
The investment fraud lawyers at the Law Offices of Robert Wayne Pearce, P.A. represent investors seeking to recover losses caused by broker fraud, negligence, unsuitable recommendations, unauthorized transactions, excessive trading, selling away, supervisory failures, and other securities misconduct.
Attorney Robert Wayne Pearce has more than 45 years of experience handling securities disputes and investor-loss claims.
If you believe misconduct involving Parkland Securities or one of its financial professionals caused your investment losses, the firm can evaluate the circumstances of your account and explain your potential legal options.
Give us a call at 866-860-8507 for a free consultation.
