Van Clemens & Co. Settles with FINRA Over Supervision of Excessive Trading

Have you lost money investing with Van Clemens & Co.?  We are looking into allegations made against Van Clemens & Co., LLC., a Minneapolis, Minnesota-based securities brokerage firm as well as their advisor, Peter Monson.

FINRA (the Financial Industry Regulatory Authority) brought a regulatory action against Van Clemens & Co., making allegations that it failed to establish and maintain supervisory guidelines regarding excessive trading or churning.

FINRA alleged that Van Clemens & Co. failed in this regard from June 2015 to June 2016.  FINRA alleged that the company failed to instruct supervisors to review account activity for potential excessive trading or churning.  FINRA specifically referred to advisor “PM”, Peter Monson, who is currently under a separate investigation by FINRA for trading.  FINRA alleged that one of Peter Monson’s customers had a turnover ratio of 9, with a cost-to-equity ratio of 32%.  That means the client would have had to gain 32% just to cover the costs of trading.

To settle these allegations, Van Clemens agreed to pay a $50,000 fine.

Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Seattle, Washington; and Ann Arbor, Michigan.  We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Minnesota.  Our attorneys have represented over one thousand investors against many brokerage firms in the past.

Click to view:  Van Clemens & Co. FINRA AWC

Click to view:  Monson, Peter BrokerCheck 8.23.19

If you lost money investing with Peter Monson or Van Clemens & Co., please CONTACT US at 720-599-3505 for a free case evaluation.