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Violation Tracker Individual Record

Company: LH Ross
Penalty: $11,968,000
Year: 2005
Date: January 19, 2005
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: An NASD Hearing Panel has expelled Boca Raton, FL-based brokerage LH Ross for fraud and other violations related to the sales of unregistered self-offerings. The panel ordered the firm to pay a $500,000 fine, more than $11 million in restitution to investors, prejudgment interest of at least $450,000, and hearing costs of more than $18,000.
Level of Government: federal
Action Type: agency action
Agency: Financial Industry Regulatory Authority
Civil or Criminal Case: civil
Source of Data: NASD Panel Expels Florida Brokerage LH Ross, Orders Nearly $12 Million in Fines, Restitution; Issues First Permanent Cease and Desist Order, PR Newswire, January 19, 2005 (via Nexis).
Notes: FINRA is a securities industry self-regulatory body authorized by the federal government. This case was handled by its predecessor, the National Association of Securities Dealers (NASD).
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.