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: 
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Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.