Labor & Employment Law

Aura Financial Services charged by SEC with Churning

By Dobin & Jenks

The SEC announced today that it, along with Alabama Securities Commission has charged Aura Financial Services with ?rampant? churning of customer accounts, ?widespread? supervisory failures and other securities violations. This is stunning. It is rare that an entire firm is charged with churning. Usually it is an individual broker or office. For a firm to be charged must be pretty bad.

What do you do if you?re a client of Aura and can?t figure out what happened to your account? Contact a qualified securities arbitration attorney to look at your account statements and determine the best route to follow.

This gets back to the basics of investing. If you don?t understand what?s going on, don?t do it. If your Broker is doing things you don?t like, get another Broker. When you think you?ve been mistreated, ask a professional for a second opinion.

To learn more on this Aurora Financial Fraud case, read the SEC Press Release and Investment News article "SEC charges Birmingham B-D with churning"

Full post as published by The Law Planet Blog on June 12, 2009 (boomark / email).