Finra Sanctioning Former Tnp Securities Compliance Officer For Failed

By Author: Stanley Bowles
Total Articles: 6
Comment this article

Today, the Financial Industry Regulatory Authority (FINRA) announced that it has suspended Wendy Worcester, a former Co-Chief Financial Officer of  TNP Securities, for five months  from the securities industry for failing to conduct adequate and independent due diligence into several of Anthony “Tony” Thompson’s real estate deals.
TNP Securities, a securities broker-dealer controlled by Tony Thompson, served as the promoter of some of the real estate offerings organized by Thompson National Properties.  Worcester acted as TNP Securities’ Co-Chief Compliance Officer between May 6, 2009 and October 26, 2010, when she was terminated.
Worcester was the designated principal responsible with conducting due diligence for private placement and registered offerings by TNP Securities, according to the regulators’ Order.  In that capacity, she failed to conduct an independent, thorough, and reasonable investigation of the TNP offerings, the regulators charged.  As a result, TNP – sponsored real estate investment programs were sold pursuant to prospectuses and private ...
... placement memoranda that contained misleading information, according to the regulatory complaint.
Securities attorneys Alan Rosca, Joe Peiffer, and Lance McCardle have been retained by a number of investors in TNP-sponsored programs and are preparing to take legal action and seek compensation on behalf of their clients.
Investors in Thompson National Properties – sponsored programs are encouraged to call attorneys Rosca, Peiffer, or McCardle for a free evaluation of their case at 888-998-0520.
Disclaimer: Our clients will not be responsible for the payment of litigation-related costs if they do not recover, whenever permitted by the applicable jurisdiction's rules. Some jurisdictions mandate that the client always pays the case expenses. This page may be deemed to be attorney advertising. We handle financial fraud cases in most states. However, our firm's lawyers are not admitted to practice law in every state. Attorney Joe Peiffer is licensed to practice law in Louisiana. Attorney Alan Rosca is licensed to practice law in Ohio. In those jurisdictions in which our firm's lawyers are not admitted to practice, we will associate co-counsel from the relevant jurisdiction to assist with the matter, at no additional cost to our clients. In cases where we associate with local co-counsel, we will typically act as primary counsel. Occasionally, it is possible that the co-counsel will take the leading role. Whenever that is the case, we will obtain the client's advance, written permission. Each case is different and prior successes are not indicative of future results. Although our lawyers have experience handling various types of cases, none has be certified as an expert or specialist in any area of the law by any accrediting or licensing authority or by any bar association. Please visit tnpinvestors.com  and go to Legal Disclaimer for important disclaimers.
The TNP Investor Center is a TNP strategic retail trust default for investors. If you are searching for TNP strategic retail trust distributions, then you have come to the right place.