Bolton Global Capital, Inc., a FINRA member since 1984 headquartered in Bolton, MA, conducts general securities business, including mutual funds, bonds, stocks, options, and variable annuities, via 115 of the Firm’s registered representatives within 53 of the Firm’s branch offices. The Firm was censured and fined $35,000 in connection with allegations the Firm had failed to provide its customers with prospectuses who purchased exchange traded funds (“ETFs”), while also failing to establish and enforce supervisory procedures for purposes of ensuring prospectus delivery. Letter of Acceptance, Waiver and Consent No. 2012030523201 (June 9th, 2015).
Acceptance, Waiver and Consent
According to the Acceptance, Waiver and Consent (“AWC”), from May 31 of 2011 through May 13 of 2012, Bolton had sold roughly 1,000 ETFs to customers, where 164 of the transactions contained non-traditional ETFs. The Firm, according to the AWC, had failed to send prospectuses for any of the 1,000 ETFs, conduct FINRA’s Department of Enforcement alleged to be in violation of Section 5(b)(2) of the Securities Act and FINRA Rule 2010.
Additionally according to the AWC, the Firm, during the same time period, had failed to establish and enforce written supervisory procedures and an adequate supervision system for purposes of ensuring that prospectuses for ETFs would be delivered to customers. FINRA’s Department of Enforcement found that by Bolton not having any procedures in this regard, the Firm violated FINRA Rule 2010 and NASD Conduct Rule 3010.
Guiliano Law Group
Investors suffering losses or damages caused by Global Arena Capital in connection with this aforementioned conduct may be able to recover their investment losses. Our practice is limited to the representation of investors in claims, for fraud in connection with the sale of securities, the sale or recommendation of excessively risky or unsuitable securities, breach of fiduciary duty, and the failure to supervise. We accept representation on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you, and there is never any charge for a consultation or an evaluation of your claim. For more information contact us at (877) SEC-ATTY.
