Trustmont Financial Group Fined $100,000 For Alleged Supervisory Failures
We are currently investigating allegations made against Trustmont Financial Group, a Greensburg, Pennsylvania-based securities brokerage firm. FINRA (the Financial Industry Regulatory Authority) brought a regulatory action against Trustmont Financial Group, making numerous allegations regarding its conduct, including: a) failed to retain business-related emails; b) failed to inspect and register branch offices; c) failed to supervise its representatives’ use of consolidated reports; d) failed to supervise the content of a representative’s radio program; and e) failed to properly supervise UIT (unit investment trust) transactions. To settle these allegations, Trustmont Financial Group agreed to pay a $100,000 fine.
The FINRA settlement with Trustmont comes on the heels of recent complaint filed by the SEC (Securities and Exchange Commission) against one of Trustmont’s brokers. The SEC filed a complaint against former Trustmont Financial Group advisor Peter Kohli. The SEC alleged that Peter Kohli engaged in securities fraud related to his mutual fund, the DMS Funds.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Colorado, Washington, Michigan, Illinois, and the Portland, Oregon area. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Pennsylvania in the past.
Click to view: Trustmont Financial BrokerCheck 10.4.16
Click to view: Trustmont Financial FINRA AWC
Click to view: Kohli, Peter SEC Complaint
HAVE YOU LOST MONEY WITH TRUSTMONT FINANCIAL GROUP, DMS FUNDS, OR PETER KOHLI?
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Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.