| Read Time: 3 minutes | Failure to Supervise Stockbroker Attorney |

Did Feltl & Company Cause You Investment Losses?

Feltl & Company of Minneapolis, Minnesota submitted a Letter of Acceptance, Waiver and Consent (AWC) to FINRA for allegedly failing to apply sales-charge discounts to certain customers’ eligible purchases of unit investment trusts (UITs) and for failing to establish, maintain, and enforce a proper supervisory system. UITs are generally issued by a firm representative that assembles the UIT’s portfolio of securities, deposits the securities in a trust, and sells units of the UIT in a public offering. FINRA investigators alleged that Feltl failed to identify and apply sales charge discounts to certain customers’ eligible purchases of UITs. FINRA found that Feltl failed to apply sales-charge discounts to more than 1,100 eligible UIT purchases resulting in customers paying excessive sales charges of approximately $261,873. Additionally, customers paid a combined total of nearly $65,000 in commissions and sustained additional losses on the unsuitable trades. FINRA alleged that the forgoing conduct shows that Feltl failed to establish, maintain, and enforce a supervisory system and written supervisory procedures reasonably designed to ensure that customers received sales-charge discounts to which they were entitled on UIT purchases. The alleged conduct violates NASD Conduct Rules 3010(a) and (b) and FINRA Rule 2010. Without admitting or denying the FINRA allegations, Feltl & Company agreed to the sanctions and was ordered to pay a $250,000 fine.

Do You Need An Attorney Who Sues For Failure to Supervise Stockbroker?

Minnesota has thousands of stock brokerage firms and investment advisory offices.  With so many stock brokerage firms comes the potential for a stock brokerage firm to fail to supervise its stockbrokers, financial advisors and investment advisors from engaging in misconduct which violates Federal and Minnesota securities laws and Financial Industry Regulatory Authority (FINRA) rules and the stock brokerage firm’s policies and procedures. 

Experienced Lawyers Who Handle Failure to Supervise Stockbroker Claims In FINRA Arbitrations Throughout Minnesota and Nationwide.

Are you a Minnesota investor who has suffered significant losses in your stock brokerage and investment accounts?  Did your Minnesota stockbrokerage or investment advisory firm where you do business fail to supervise the stockbroker who recommended bad investments and otherwise mismanage your investment account? If so, you will need to hire an experienced, highly-rated and nationally recognized FINRA securities arbitration lawyer— an attorney who knows how to handle these failure to supervise cases as well as other complex legal issues. 

By hiring a top rated attorney like Robert Wayne Pearce with over 40 years of experience with failure to supervise claims by practicing securities law on both sides of the table in FINRA arbitration proceedings, you will clearly see that Attorney Pearce doesn’t just handle cases—he aggressively represents investors and is one of the best lawyers to recover your investment losses due to a stockbrokerage or investment advisory firm’s failure to supervises its registered representatives in FINRA arbitration proceedings!

At The Law Offices of Robert Wayne Pearce, P.A., we represent investors with failure to supervise claims and all kinds of securities law and investment disputes in FINRA arbitration and mediation proceedings. We handle a wide range of practice areas such asfraud and misrepresentation, breach of fiduciary duty, churning, theft, forgery, margin account abuse and unsuitable recommendations to purchase, sell or hold securities or recommend unsuitable investments strategies.  Attorney Pearce and his staff represent investors throughout Minnesota, and across the United States on a CONTINGENCY FEE basis, which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award.

Se habla español

Free Initial Consultation With An Attorney Experienced In Failure to Supervise Stockbroker Disputes Serving Minnesota Residents In FINRA Arbitrations

The Law Offices of Robert Wayne Pearce, P.A. are highly experienced lawyers who successfully handle failure to supervise claims and other securities law matters and investment disputes in Minnesota, and who work tirelessly to secure the best possible result for you and your case.  For dedicated representation by an attorney with over 40 years of experience and success in failure to supervise and all kinds of securities law and investment disputes serving Minnesota citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Author Photo

Robert Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $125 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

Rate this Post

1 Star2 Stars3 Stars4 Stars5 Stars
Loading...