Pariter Securities, LLC is a broker-dealer based in Guaynabo, Puerto Rico. In September 2019, the Commissioner of Financial Institutions of the Government of Puerto Rico (“OCFI”) found that the firm failed to put into place a supervisory system that was reasonably designed to achieve compliance with suitability rules and regulations regarding alternative investments transactions.
According to publicly available records filed with the SEC, Pariter Securities, LLC likely received sales compensation for selling the GPB funds to retail investors. GPB Capital sold unregistered, high commission limited partnership interests in eight alternative-asset investment funds. The GPB funds were marketed to independent broker-dealers and investment advisers who would in turn sell the GPB funds to their retail investors.
Iorio Altamirano LLP is investigating claims on behalf of defrauded investors who were victims in the GPB funds scheme.