Devindra Sukhram, of McDonough, Georgia, a stockbroker with Cape Securities, was suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in the unauthorized discretionary trading of customer accounts. Letter of Acceptance, Waiver and Consent, No. 2014041613501 (Aug. 17, 2016). According to the…
Michael A. Lovett, a compliance officer with Cape Securities, Inc., was suspended from association in a principal capacity with any Financial Industry Regulatory Authority (FINRA) member firm and fined $5,000 after consenting to findings that he failed to adequately supervise the establishment of the firm’s supervisory system to detect and prevent conversion of customer funds….
Cape Securities, Inc., a FINRA member since 1976 headquartered in McDonough, GA, offers brokerage services via 118 registered reps via its 20 branch offices and 79 non-registered offices. The Firm was censured and fined $125,000 after consenting to FINRA findings that the firm failed to establish and enforce adequate supervisory systems to detect/prevent fraudulent wires…