Sigma Financial Corporation
Sigma Financial Ordered to Pay Customer $92,000
An NASD arbitration panel ordered Sigma Financial to pay two investors $92,000 to compensate them for damages that they suffered as a result of Sigma’s misconduct. Claimants asserted the following causes of action: unsuitability, misrepresentation, negligence, breach of fiduciary duty, churning, and failure to supervise.
Sigma Financial Settles Claim for $140,000
Sigma Financial agreed to pay an investor $140,000 to settle claims brought by a client. Claimant asserted the following causes of action: 1) violations of federal securities laws,
particularly Section 17a of the Securities Act of 1933, 15 U.S.C. Section 77(q), Section
10(b) of the Securities Exchange Act of 1934, 15 U.S.C. Section 78(j)(b) and Rule 10(b)-5
of the Securities and Exchange Commission; 2) violations of Chapter 517, Florida Statutes;
3) violations of rules and regulations of the NASD; 4) negligence; 5) breach of fiduciary
duty; 6) breach of contract; and 7) fraud.