Broker-Dealer Profiles | Page 9 | Cold Spring Advisory Group

Broker-Dealer Profiles

Rockwell Global Capital (CRD# 142485) (SEC# 8-67467)

Rockwell Global Capital, LLC. is a brokerage firm located at 125 Baylis Road in Melville, NY 11747. It was formed in New York in 2005 and registered with the Securities Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) in 2007.

Rockwell Global's FINRA BrokerCheck report contains five arbitration cases for which the firm paid over $500,000 in fees and restitutions. In April of 2015, Cold Spring Advisory Group secured $26,384 in damages on behalf of a Rockwell Global customer in a FINRA arbitration. The allegations of misconduct in this case included unsuitability, churning, failure to supervise, unauthorized trading, breach of fiduciary duty, breach of contract, churning, fraud and misrepresentation. In another FINRA arbitration six months earlier, a Florida-based Rockwell Global customer was awarded $187,132 in damages for violations of Florida’s Securities and Investor Protection Act, breach of fiduciary duty, common law fraud, excessive trading, breach of contract, negligence, misrepresentation and omission, and negligent supervision.

Craig Scott Capital, LLC. (CRD# 155924) (SEC# 8-68751)

Craig Scott Capital, LLC. is a brokerage firm located at 1255 RXR Plaza, 12th Floor, in Uniondale, New York 11556. It was formed in New York in 2010 and registered with the Securities Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) in 2012.

Craig Scott has 2 regulatory disclosures and one customer dispute listed on its FINRA BrokerCheck report. The regulatory events reflect two separate allegations of a failure to transmit accurate reports. Craig Scott was censured on both occasions and paid a total of $20,000 in fines. Craig Scott consented to the findings of each event but did not admit or deny the allegations.

Avenir Financial Group, Inc. (CRD# 148490) (SEC# 8-68031)

Avenir Financial Group, Inc., is a brokerage firm located at 75 Maiden Lane, New York, New York 10038. It was formed in Wyoming in 2010 and registered with the Securities Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) in 2012.

In April of 2015, FINRA filed a cease and desist order against Avenir, its CEO Michael Clements and registered representative Karim Ibrahim (aka ‘Chris Allen’) for allegedly selling fraudulent promissory notes to elderly investors. During a seven-week period from October to December in 2013, Avenir raised $338,000 from four investors (two of whom were elderly) in separate self-offerings and increased the price of the equity with each offering. At the time, the firm was suspended from operating a securities business due to insufficient regulatory net capital and had a $191,000 margin call to satisfy.

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