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NEW YORK–(BUSINESS WIRE)–National investment fraud lawyers KlaymanToskes is continuing to investigate 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 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.”
According to securities attorney Lawrence L. Klayman, Esq., “Brokerage firms have a duty to recommend suitable investments, and financial advisors’ failure to disclose all relevant facts, including the risks associated with concentrated investments in the energy sector, is a basis for liability in a FINRA arbitration claim.”
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 with losses exceeding $100,000, and those have information relating to the handling of their investment portfolios, are encouraged to contact Lawrence L. Klayman, Esq., at (561) 997 – 9956, and download our Special Investor Report.
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KT is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation, on behalf of retail and institutional investors throughout the world in large and complex securities matters. KT has office locations in California, Florida, New York and Puerto Rico.
Destination: https://klaymantoskes.com/notice-to-franklin-square-energy-power-fund-investors
KlaymanToskes
Lawrence L. Klayman, Esq.
(561) 997 – 9956
lklayman@klaymantoskes.com
www.klaymantoskes.com