FINRA Hits Long Island Investment Firm With $1.5M Sanction

Law360, New York (March 12, 2015, 2:13 PM EDT) -- A Long Island-based boutique investment firm agreed Thursday to pay a $500,000 fine and $1 million in restitution over allegations that the company misled investors and failed to properly research a private placement offering, in a settlement that also barred its president from the securities industry.

Brookville Capital Partners LLC and its president Anthony Lodati came under heat from the Financial Industry Regulatory Authority in 2014 for not disclosing that the private placement, Wilshire Capital Partners Group LLC, was run by an individual named John Mattera, who had a history of criminal and regulatory violations, according to FINRA. Despite discovering the...

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