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KlaymanToskes announces an investigation of full-service brokerage firm sales practice violations of Financial Industry Regulatory Authority (“FINRA”) rules and regulations related to recommended investments in Franklin Square Energy & Power Fund. According to securities attorney, Lawrence L. Klayman, “our investigation relates to whether brokerage firms’ recommendations represented unsuitable investment advice, and whether financial advisors failed to disclose all relevant facts, including the risks associated with concentrated investments in the energy sector.”
According to Franklin Square Energy & Power Fund (FSEP), “FSEP is a non-traded business development company (BDC). The fund invests primarily in the debt and, to a lesser extent, equity securities of private U.S. energy and power companies.” On March 25, 2020, FSEP publicly announced, “The Fund suspended the payment of distributions following the payment of the regular monthly distribution in March and suspended the Fund’s distribution reinvestment plan.” FSEP further stated, “In light of difficult market conditions and in an effort to preserve liquidity in FS Energy & Power Fund (FSEP), FSEP’s board of trustees determined to suspend for an indefinite period of time FSEP’s share repurchase program and will reassess the FSEP’s ability to recommence such program in future periods.”
The sole purpose of this release is to investigate investment advice provided by full-service brokerage firms related to Franklin Square Energy & Power Fund. FSEP Investors with accounts at full-service brokerage firms, and have information relating to the handling of their investment portfolios are encouraged to contact Lawrence L. Klayman, Esq., at (561) 542-5131, and download our Special Investor Report.