Securities Lawyers Blog
Our firm is investigating claims made by various regulators and brokerage firms including Axiom Capital Management, Inc. (Axiom) and Financial West Group (FWG) concerning broker Sara Eng (Eng a/k/a Sara Aiping Ng). Eng is currently associated with brokerage firm Moloney Securities Co., Inc. (Moloney).
The allegations revolve around Eng’s offering of investments to clients. In October 2015, FWG terminated Eng for cause and allowed Eng to voluntarily resign after allegations were made that Eng was being placed on heightened supervision for potential violation of firm policy regarding marketing of investments to firm customers. Thereafter, in September 2016, Axiom terminated Eng for cause for violation of the firm’s policies and procedures regarding email correspondence. At the same time The Financial Industry Regulatory Authority’s (FINRA) opened its own investigation into Eng concerning Axiom’s disclosures for Eng’s termination. At this time it is unclear the exact nature and extent of the investigation.
Eng entered the securities industry in 1997. From November 2002 until March 2014, Eng was associated with Berthel, Fisher & Company Financial Services, Inc. From February 2014 until November 2015, Eng was associated with FWG. From October 2015 until September 2016, Eng was registered with Axiom. Finally, since November 2016 Eng has been registered with Moloney out of the firm’s Oak Brook, Illinois and Flushing, New York office locations.