Did Richard Seefried Cause You Investment Losses?
Richard Seefried of Spokane, Washington, submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he received a fine and suspension for allegations of unsuitable recommendations of convertible notes. FINRA investigators found that while employed with Spencer Edwards, Inc., Richard Seefried failed to properly investigate representations made by the issuer of convertible promissory notes. According to the FINRA’s findings, Mr. Seefried failed to examine the discrepancies in materials provided by the issuer of the notes and failed to investigate the background of the officers of the issuer, who had prior litigation alleging securities fraud. FNRA found that Mr. Seefried made unsuitable recommendations to two of his customers, sold $200,000 of the notes and earned commissions of $13,600. Richard Seefried, without admitting or denying FINRA’s allegations, was assessed a deferred fine of $10,000, received a suspension for 30 days, and ordered to pay $13,600, plus interest, in deferred disgorgement of commissions received.
Do You Need a Lawyer for an Unsuitable Investment?
Washington has thousands of stock brokerage firms and investment advisory offices. With so many stock brokerage firms and investment advisory offices, comes the potential for their stockbrokers, financial advisors, and other representatives to recommend unsuitable securities investments in light of the customers stated investment objectives, risk tolerance, financial condition, time horizon and other important factors and to engage in many other kinds of stockbroker fraud and stockbroker misconduct which violates Federal and Washington securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures.
Experienced Unsuitable Investment Lawyers Who Handle FINRA Arbitrations Throughout Washington and Nationwide.
Are you a Washington investor who has suffered significant losses in your stock brokerage and investment accounts? Did they recommend unsuitable securities transactions or strategies? Broker-Dealer attorneys always argue to the arbitration panel the securities transactions (buy, sell or hold) and/or strategies to engage in short selling, trade on margin, use securities based lending and complex option or futures trading strategies were suitable for the customer. They routinely misrepresent the customers’ investment objectives, risk tolerance and financial condition on account documents. Suitability claims can be based upon the stockbroker or investment advisor’s fiduciary duty, duty to use reasonable care, or FINRA Rule 2111. If you believe that your stockbroker or investment advisor made unsuitable recommendations, you need a skilled securities arbitration attorney who knows all the investments, investment strategies and stockbroker tricks of the trade.
More importantly, you will need the representation of an experienced, top rated and nationally recognized FINRA arbitration attorney — a lawyer who knows FINRA rules and procedures and how to handle these FINRA arbitration cases and other complex legal issues. By hiring a top rated securities attorney like Robert Wayne Pearce with over 40 years of experience 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 securities attorneys to recover your investment losses for unsuitable recommendations and all types of stockbroker fraud and stockbroker misconduct in FINRA arbitration proceedings!
At The Law Offices of Robert Wayne Pearce, P.A., we represent investors with securities breach of fiduciary duty claims and many other kinds of securities law and investment disputes in FINRA arbitration and mediation proceedings. We handle a wide range of practice areasbesides breach of fiduciary duty, such as claims involving securities misrepresentation and stockbroker fraud, negligence, failure to supervise, and unsuitable recommendations by stockbrokers and investment advisors. Attorney Pearce and his staff represent investors throughout Washington, 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.
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Free Initial Consultation With An Experienced Attorney Serving Washington Residents in FINRA Arbitrations Involving Unsuitable Investment Claims
The Law Offices of Robert Wayne Pearce, P.A. are highly experienced lawyers who successfully handle unsuitable investment claims and other investment disputes in FINRA arbitration proceedings, 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 all kinds of securities law and investment disputes in FINRA arbitrations serving Washington citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.