Category Archives: David Lerner & Associates
David Lerner’s brokerage fined $2.3 million for misleading investors
The following story appeared on Reuters on April 4, 2012: David Lerner Associates, the New York-based brokerage that regulators say misled investors in its marketing of municipal bonds and mortgage-backed securities, was fined $2.3 million by an industry regulatory panel … Continue reading
David Lerner Associates’ Fiduciary Compliance on Apple REITs Under Investigation
By GAIL LIBERMAN-Palm Beach Daily News, 6/18/11 I don’t know about you, but I’ve run into reps of David Lerner Associates Inc., Syosset, N.Y., soliciting over the last few years at West Palm Beach convention center events. Plus, I still … Continue reading
COMPLIANCE WATCH: Brokerage Still Sells Questioned REITs
By Suzanne Barlyn — A DOW JONES NEWSWIRES COLUMN , 6/9/2011 NEW YORK (Dow Jones)–When a regulator accuses a brokerage of improperly selling a product and questions the pricing of that product, you might think that regulator would order sales … Continue reading
FINRA Charges David Lerner & Associates With Soliciting Investors to Purchase REITs Without Fully Investigating Suitability; Lerner Marketed REITs on its Website With Misleading Returns
Today, the Financial Industry Regulatory Authority (“FINRA”) announced that it filed a complaint against David Lerner & Associates, Inc. (DLA), of Syosset, NY, charging the firm with soliciting investors to purchase shares in Apple REIT Ten, a non-traded $2 billion … Continue reading