The Financial Industry Regulatory Authority Inc. last month suspended Sandlapper Securities, which it charged in 2017 with defrauding investors with exorbitant, undisclosed markups totaling more than $8 million on private placement deals.
Sandlapper Securities is a small broker-dealer that created and sold private placement investments in saltwater disposal wells. Such wells are used to get rid of water collected as a byproduct of oil and gas production.
The firm is facing the prospects of being kicked out of the brokerage industry if it doesn't respond to Finra's latest move involving the firm, according to its BrokerCheck profile. “If Sandlapper Securities fails to request termination of the suspension within three months of the notice … it will automatically be expelled” from Finra, according to the firm’s BrokerCheck profile.
Sandlapper's CEO, Trevor Gordon, did not return calls on Thursday to comment.
When Finra filed its complaint against Sandlapper two-and-a-half years ago, it reported that the firm had close to 60 registered representatives in 13 branch offices.
From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.
Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.
“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.
Sellers shift focus: It's not about succession anymore.
Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
