California Securities Fraud Attorney Call Today 800-699-1881
California Securities Fraud Lawyer Firm Overview Attorney Profiles Recoveries Obtained Frequently Asked Questions Testimonials Contact Us
information center
Attorney Advertising Disclaimer
Securities
Broker Misrepresentation
Brokerage Firms Sued
FINRA
Structured Products
Hedge Fund Losses
Recognizing Investment Losses
Recovery of Investment Loss
Securities Arbitration
Reverse Convertible
Misconduct
Securities Fraud
Securities Mediation
Securities Litigation
Stock/ Investment Losses
Suitability/ Unsuitability
Unauthorized Trading
Common Claims
Products
Frequently Asked Questions
Attorney Referrals
Video Center
securities fraud blog
legal blog Click here for a free case evaluation. Read our Articles on Securities Related Issues here. have a question resources
contact us
Name:
Email:
Phone:
Are you a new client?
Message:
10 Avvo avvo badge
If you need help recovering your losses contact us today. View our complete list of brokerage firms and banks we've sued.

Erin Christine Ackerman Fined $20,000 and Suspended Until December 2013 for Poor Supervision, Resulting in Unsuitable Recommendations and Significant Customer Losses

The Financial Industry Regulatory Authority (FINRA) fined former CM Securities, LLC Chief Compliance Officer Erin Christine Ackerman of Henderson, Nevada $20,000 and suspended her through December 17, 2013, for failure to establish and maintain a system designed to supervise the activities of brokers within the firm. Her failures, FINRA alleged ultimately resulted in significant customer losses.

FINRA Case #200901734667

FINRA alleged that between 2004 and 2008, Ackerman's failure to establish supervisory systems related to the sales of real estate investment trust shares resulted in several subordinate brokers improperly recommending transactions that placed a significantly and unsuitably high concentration of these securities in customer accounts.

FINRA claimed that because of these unsuitable recommendations, customers purchased $1,679,304 worth of real estate investment trust shares, which due to devaluation and the company filing for involuntary bankruptcy, resulted in multiple CM Securities customers losing their entire investments.

FINRA found that Ackerman had neglected to perform a supervisory review that would have identified these concentration red flags and addressed the problems presented by the brokers' recommendations, which would have diminished the massive risks CM Securities, LLC customers incurred by investing based on the unsuitable recommendations.

If you invested with CM Securities, LLC and believe the firm and Ackerman's lack of adequate supervisory systems have proven harmful to your investments or interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.

Categories: REITs
accolades
The Law Offices of Jonathan W. Evans & Associates - California Securities Fraud Attorney
Located at 12711 Ventura Boulevard, Suite #440 Studio City, CA 91604. View Map
Phone: (800) 699-1881 | Local Phone: (818) 760-9880.
Website: