NEW ORLEANS, Sept. 20, 2012 /PRNewswire/ -- Harold E. Doley, Jr., Chairman Emeritus of Doley Securities, LLC, the nation's oldest American Black investment bank, refutes a story in New Orleans CityBusiness that the firm has been banned by the Financial Industry Regulatory Authority (FINRA).  After a period of inactivity, Doley Securities is awaiting formal notice from FINRA on its reinstatement.  

The inactivity resulted from an annual required CPA audit of Doley Securities  that FINRA rejected.  The dispute between Doley Securities and its former auditor is now in litigation.  Doley Securities  retained a second CPA, who completed the requisite examination that has been accepted by FINRA.

In response to the story, Mr. Doley said, "It is unfortunate that New Orleans CityBusiness  has readily seized upon a negative and false story but has not reported on Doley Securities' business successes over three-and-a-half decades."

In 1973, Mr. Doley bought a seat on and became a member of the New York Stock Exchange (NYSE). 

Founded in 1975, Doley Securities, LLC is the oldest American Black-owned and operated investment banking firm.  The company was formed in 1975 and has been housed for three decades in the Doley Building located in the Central Business District of New Orleans, Louisiana

Contact:
Louis A. Gerdes, Jr.
General Counsel
Tel. (504) 822-4110

SOURCE CaribPR Wire