Articles Tagged with Best Execution

FINRA has fined Network 1 Financial Securities Inc. (“Network 1”) $25,000 over best execution rule violations. The firm was also censured and consented to revise its written supervisory procedures to comply with best execution rules.

Network 1 is headquartered in Red Bank, New Jersey, and has been a FINRA member since August 1983. Network 1 is a full-service broker-dealer firm. Its clients include institutional investors, managed pension funds, high net worth individuals, and hedge funds. The firm has 104 registered individuals and 21 branch offices.

In 2017, Network 1 was included in a Reuters study that analyzed FINRA data and identified 48 firms whose brokers have been flagged for serious incidents. The Reuters’ analysis showed that Network 1 had 44.6% of its brokers with at least one of the most serious red flags on their public disclosure.  You can read more about the Reuters analysis and our firm’s work to update the analysis here.

Iorio Altamirano LLP is investigating claims on behalf of J.H. Darbie & Co., Inc. customers after the firm was censured and fined $25,000 by FINRA for best execution rule violations. Specifically, FINRA found that the firm’s publicly available reports on its order routing practices for non-directed orders contained inaccurate and incomplete information. FINRA also found that the firm had submitted inaccurate and incomplete Order Audit Trail System (OATS) data. FINRA’s Order Audit Trail System (OATS) is an integrated audit trail of order, quote, and trade information for all NMS stocks and OTC equity.

If you have lost money with J.H. Darbie & Co., Inc., contact New York securities arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.

J.H. Darbie & Co., Inc. is headquartered in New York, New York, and has been a FINRA member since February 1998. The firm provides retail brokerage services and employs 36 registered representatives.

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