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GlobaLink Securities

Kurta Law is investigating recommendations by brokers of GlobaLink Securities (CRD#: 29721). Investors should be aware that GlobaLink Securities is a brokerage firm that works with brokers who have allegations of misconduct on their records. The firm is headquartered in Pasadena, California.

GlobaLink Securities has also operated as Palm Springs Retirement Investments Corporation.

Fees and Conflicts of Interest

Investors should be aware of what types of fees and commissions they may pay as customers of GlobaLink Securities. The firm discloses this information and its conflicts of interest in its Customer Relationship Summary (Form CRS):

Investors will be charged transaction-based commissions. These fees differ depending on the product, with some being charged upfront or as trailing fees for as long as you hold an investment. These fees incentivize GlobaLink Securities to encourage frequent trading.
Bond transactions charge fees in the form of markups or markdowns.
For exchange-traded funds (ETFs), mutual funds, and certain other investments, product-specific fees are included in their expense ratios.
You may also be charged fees for custodial or administrative services.
For mutual funds and other investments with various share classes, the front-end commission will be determined by your share class. This incentivizes the firm to recommend the highest-paying share classes.
The firm earns commissions when you rollover your employer-sponsored retirement plan into an IRA.

Broker-Dealer Services

In addition to stocks and bonds, GlobaLink Securities offers the following investment products. However, investors should keep in mind that some of these products can feature significant risk.

Equities
Mutual funds
Exchange-traded funds (ETFs)
Options
Fixed-income securities
Private placements

Regulatory Actions

There are several regulatory actions disclosed on GlobaLink Securities’ record. You can read the full list on the firm’s detailed BrokerCheck page.

Alleged Unfair Markups and Markdowns

On June 11, 2024, FINRA filed a Letter of Acceptance, Waiver & Consent (AWC) alleging that GlobaLink Securities charged unfair markups and markdowns in 137 corporate bond transactions and failed to seek best execution for corporate bond transactions from 2020-2024.

Investors allegedly paid unfair markups and markdowns totaling $397,862.20.

FINRA further alleged that the firm failed to establish and maintain a supervisory system to ensure compliance with FINRA rules regarding fair pricing and best execution of corporate bonds.

GlobaLink Securities consented to a censure, $200,000 fine, and restitution of $397,862.20 plus interest. It also consented to an undertaking to retain an independent consultant to review the firm’s compliance with rules and regulations concerning fixed-income trading.

You can access the full AWC here.

Brokers with Misconduct Allegations on Their Records

GlobaLink Securities works with brokers who have records of investor disputes. Kurta Law is aware of the following current or former brokers associated with GlobaLink Securities who have misconduct allegations on their records. This isn’t necessarily a complete list, so if you have concerns about your broker’s conduct, contact a securities attorney today.

Yu Tang: https://www.kurtalawfirm.com/blog/yu-tang/
Chuanbing Rong: https://www.kurtalawfirm.com/blog/chuanbing-rong/

Kurta Law Can Help

Investors who lost money working with a GlobaLink Securities broker should reach out to an investment fraud lawyer for help. Our attorneys offer free case evaluations and do not charge a fee unless we win your case. Call (877) 600-0098 or email info@kurtalawfirm.com.