Violation Tracker Individual Record
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.
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).
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).