Frank H. Black and his Firm Southeast Investments NC failed to comply with applicable securities laws by retaining business related emails and to establish, maintain and enforce, supervisory systems.
Southeast Investments N.C. which was established in 1997 and has close to 130 registered representatives, according to FINRA. Forty percent of the firm’s revenues are from sale of variable annuities; 40% from mutual funds; and most of the remaining 20% from real estate investment trusts, according to the FINRA panel.
September 2012, FINRA requested documentation records for Southeast Investments’ branch office inspections. Mr. Black produced a three-page inspections calendar, listing 43 branch offices that he claimed he inspected between March 2010 and August 2012.