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Source: Algodon Wines & Luxury Development Group
Scott Mathis, Chairman & Founder of Algodon Wines & Luxury Development Group (Algodon Partners) is pleased to announce that this week Algodon Partners received FINRA's (the industry's security regulators) examination report for our company’s broker dealer, DPEC Capital. (The Financial Industry Regulatory Authority, or "FINRA", is an independent regulatory organization for all securities firms doing business in the United States. FINRA's chief role is to protect investors by maintaining the fairness of the U.S. capital markets.) As indicated in the letter, DPEC Capital got an absolute clean bill of health, with no exceptions noted and no changes to our business practices were proposed. While we are not surprised by the outcome, we are certainly pleased that our practices and procedures were found to have been proper and in compliance with the applicable industry rules and regulations.
One of the purposes of FINRA's examination review is to help members such as us to better understand the rules and regulations of the industry. Algodon Partners believes this experience has certainly helped our firm to stay current, and serves as an excellent exercise in keeping us knowledgeable of current industry rules and regulations.
FINRA's 2012 regulatory Financial/Operational and Sales Practice examination reviewed our firm from top to bottom, with broad discretion to investigate any and every area of DPEC Capital. The exam included the following regulatory areas: Net Capital, Organization and Internal Controls, Reserve Formula, Sales Practice, Underwriting, and FINRA's Annual Priorities. You can read a copy of the report by clicking here.
About Algodon Partners
We are a New York based development firm that provides access to real estate investment opportunities specifically tailored to investors seeking to diversify their portfolio outside of the U.S. and European markets. From site selection and financing, to home construction and amenity development, Algodon Partners strives to deliver simplicity, transparency and guidance in Argentina real estate investing. Our properties include Algodon Wine Estates, a resort and vineyard real estate development featuring ultra-fine wines, luxury vineyard living, championship golf, tennis and polo, as well as Algodon Mansion, one of the most celebrated and critically acclaimed luxury boutique hotels in South America.