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MetLife Securities Inc. Securities Attorney
The securities attorneys of Gana Weinstein LLP represent individuals and institutions in investment related disputes with broker-dealers, such as MetLife Securities Inc. (MetLife). Our firm can investigate your accounts to uncover evidence that the brokerage firm’s misconduct caused your investment losses. Investment misconduct can include many different types of activities from unsuitable investment advice, the failure to conduct due diligence on offerings, securities fraud, and failure to supervise.
MetLife, Inc. is the holding company for the Metropolitan Life Insurance Company and its affiliates. MetLife is one of the largest global providers of insurance and annuities with 90 million customers in over 60 countries. MetLife is the largest life insurer in the United States.
MetLife is affiliated with, under common control, or otherwise performs business under the company names MetLife Advisers, LLC, New England Securities Corp., Walnut Street Securities, Inc.,Tower Square Securities, Inc., MetLife Investment Management, and MetLife Private Capital Investors.
MetLife – By the Numbers:- CRD# 14251
- SEC# 8-30447
- 16 Regulatory Events
- 13 Customer Complaints
- Revenue: $52.72 billion - 2010
- Net Income: $2.79 billion - 2010
- Assets: $730.9 billion - 2010
- Employees: 66,000 - 2010
FINRA v. MetLife Securities, Inc., et al, – The Financial Industry Regulatory Authority (FINRA) fined MetLife Securities, Inc., and three of its affiliates a total of $1.2 million for failing to establish an adequate supervisory system to review broker emails correspondence. In addition, FINRA found that MetLife failed to establish adequate supervisory procedures relating to broker participation in outside business activities and private securities transactions. According to FINRA, the supervisory failures allowed two MetLife brokers to engage in outside business activities without detection by the firm.
The Federal Reserve Board v. MetLife, Inc. – The Federal Reserve Board sanctioned MetLife Inc., $3.2 million for failure to adequately oversee its subsidiary bank's mortgage loan servicing and foreclosure processing operations. According to the Federal Reserve, the oversight deficiencies represented unsafe and unsound practices. The $3.2 million fine was the maximum amount prescribed for unsafe and unsound practices under the applicable statutory limits.
NASD v. MetLife Securities, Inc., et al, - NASD fined MetLife Securities, Inc. (MSI) of New York, New England Securities, Inc. (NES) of Boston and Walnut Street Securities, Inc. (WSS) of St. Louis - all owned by MetLife, Inc. a total of $5 million concerning allegation of providing inaccurate and misleading information to NASD, allowing late trading of mutual funds, failing to produce e-mails in a timely fashion and other conduct that violates NASD's rules. The NASD found MSI, NES, and WSS provided inaccurate and misleading responses despite having learned information raising questions about their accuracy.
Gana Weinstein LLP has represented hundreds of customers in investment related disputes with their brokerage firms. Our attorneys can help you detect and uncover suspicious activity in your accounts. Our consultations are free and we welcome all inquiries.
