Aug 19, 2021

Boca Raton, Florida Lawyer Who Sues Stockbrokers For Unsuitable Investment Recommendations

Did Jeffrey Fladell Cause You Investment Losses? Jeffrey Fladell of Boca Raton, Florida submitted a Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority in which he was fined $5,000 and suspended from association with any FINRA member in all capacities for a period of three months. The sanctions were based on findings that he allegedly made unsuitable recommendations which resulted in overconcentration in high-yield municipal bonds in violation of MSRB Rule G-19. The suspension was in effect from April 5, 2021, through July 4, 2021. In October 2009, Jeffrey Fladell joined RBC Capital Markets LLC while registered as a General securities Representative and as a General Securities Principal. According to FINRA’s findings, Fladell repeatedly recommended that a customer over 100 years old, invest in bonds using both of her trust accounts that had an investment objective with low risk tolerance. The findings state that 86 percent of one trust account and 100 percent of the other consisted of risky high-yield municipal bonds within a year period due to the unsuitable recommendations. Although Jeffrey Fladell is not currently registered or associated with a FINRA member firm, he remains subject to FINRA’s jurisdiction. MSRB Rule G-19 requires that a broker, dealer or municipal securities dealer “have a reasonable basis to believe that a recommended transaction or investment strategy involving a municipal security or municipal securities is suitable for the customer, based on the information obtained through the reasonable diligence of the broker, dealer or municipal securities dealer to ascertain the customer’s investment profile. A customer’s investment profile includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance, and any other information the customer may disclose to the broker, dealer or municipal securities dealer in connection with such recommendation.” Do You Need a Florida Unsuitable Investment Recommendation Attorney? Are you a Florida investor who has suffered significant losses in your stock brokerage and investment accounts?  Did they recommend unsuitable securities transactions or strategies? 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. Free Initial Consultation With Experienced Lawyers Serving Boca Raton, Florida Residents in FINRA Securities Arbitrations Involving Unsuitable Investment Claims At The Law Offices of Robert Wayne Pearce, P.A.  we represent investors in all kinds of securities, commodities and investment law disputes in FINRA, AAA and JAMS arbitration and mediation proceedings. Attorney Pearce and his staff represent investors throughout Florida, 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 For dedicated representation by Attorney Pearce with over 40 years of experience and success in all kinds of securities, commodities and investment law disputes serving Florida citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

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Aug 17, 2021

West Hempstead, New York Lawyer Who Sues Stockbrokers For Unsuitable Investment Recommendations

Did Edmund Zack Cause You Investment Losses? Edmund Zack of West Hempstead, New York submitted a Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority in which he was fined $10,000, suspended from association with any FINRA member in all capacities for a period of eight months and ordered to pay $5,161 plus interest in deferred disgorgement of commissions received. The sanctions were based on findings that he allegedly made unsuitable recommendations, engaged in discretionary, excessive and quantitively unsuitable trading and caused his firm to maintain inaccurate books and records in violation of NASD Rule 2510(b), FINRA Rules 4511, 2111 and 2010. The suspension is in effect from April 5, 2021, through December 4, 2021. From June 2012 through October 2017, Edmund Zack was registered with Aegis Capital Corp. as a General Securities Representative. According to FINRA’s findings, Zack allegedly recommended that a customer trade in speculative, low-priced securities and increase his trading capacity, without having a reasonable basis to believe that the recommendation was in fact suitable considering the customers investment profile and limited investment experience. The findings state that the customer paid a total of $10,44 in commissions and suffered a loss of $11,357. The findings further state that Zack allegedly exercised discretionary trading in 27 customers accounts without authorization from both the customers and his firm and caused his firm to maintain inaccurate books and records by marking order tickets as solicited, when in fact they were not. Although Edmund Zack is not currently registered or associated with a FINRA member, he remains subject to FINRA’s jurisdiction. FINRA Rule 2111 requires, among other things, a registered representative to have a  reasonable basis to believe that a recommended transaction or investment strategy is  suitable for a customer based on that customer’s specific investment profile. When  evaluating suitability, FINRA Rule 2111 requires a registered representative to consider, among other things, the customer’s investment objectives, risk tolerance, financial situation, and investment experience. FINRA Rule 4511 requires member firms to make and preserve books and records in conformity with Section 17(a) of the Exchange Act and Exchange Act Rule 17a-3. Rule 17a-3 requires firms to make and keep accurate records of, among other things, instructions for the purchase or sale of a security. A registered representative who enters inaccurate information on an order ticket causes his member firm to maintain inaccurate books and records in violation of Exchange Act § 17(a) and Exchange Act Rule 17a-3, and violates FINRA Rule 4511. NASD Rule 2510(b) prohibits registered representatives from exercising discretionary authority in a customer’s account unless the customer has given prior written authorization to the representative and the account has been accepted in writing by the representative’s member firm as a discretionary account. A violation of NASD Rule 2510(b) is also a violation of FINRA Rule 2010. Do You Need a New York FINRA Securities Arbitration Attorney? Are you a New York investor who has suffered significant losses in your stock brokerage and investment accounts?  Did they recommend unsuitable securities transactions or strategies? 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. Free Initial Consultation With Experienced Lawyers Serving West Hempstead, New York Residents in FINRA Securities Arbitrations Involving Unsuitable Investment Claims At The Law Offices of Robert Wayne Pearce, P.A.  we represent investors in all kinds of securities, commodities and investment law disputes in FINRA, AAA and JAMS arbitration and mediation proceedings. Attorney Pearce and his staff represent investors throughout New York, 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 For dedicated representation by Attorney Pearce with over 40 years of experience and success in all kinds of securities, commodities and investment law disputes serving New York citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

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Mar 15, 2021

Bakersfield, California Attorney Who Sues Stockbrokers For Unsuitable Investment Recommendations

Did Cynthia Diane Cowden Cause You Investment Losses? Cynthia Diane Cowden of Bakersfield, California submitted a Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority in which she was barred form association with any FINRA member in all capacities. The sanction is based on findings that she allegedly provided false testimony and recommended unsuitable high-risk, speculative investments in violation of FINRA Rules 8210, 2111 and 2010. From January 2013 through August 2020, Cynthia Diane Cowden was associated with NPB Financial Group under multiple registrations. According to the FINRA findings, Cowden allegedly recommended unsuitable investments to three senior customers totaling $481,200. The findings state that the investments were unsuitable given the customers investment objective, circumstances, financial needs and the illiquidity and high-risk level exceeded their risk tolerance. In addition, the findings also state that Cowden allegedly provided false testimony regarding the investments during an on-the-record testimony to FINRA. Although Cynthia Diane Cowden is not currently registered or associated with a FINRA member firm, she remains subject to FINRA’s jurisdiction. FINRA Rule 2111(a) requires that firms and associated persons have a “reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the [firm] or associated person to ascertain the customer’s investment profile,” which includes “the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, [and] risk tolerance.” A recommendation may also be unsuitable if it results in an undue concentration in a particular security or category of securities. FINRA Rule 2010 requires associated persons to observe “high standards of commercial honor and just and equitable principles of trade” in the conduct of their business. A violation of FINRA Rule 2111 is also a violation of Rule 2010. FINRA Rule 8210 requires member firms and associated persons to provide information and documents to FINRA during the course of an investigation. Do You Need a California FINRA Securities Arbitration Attorney? Are you a Bakersfield, California investor who has suffered significant losses in your stock brokerage and investment accounts?  Did they recommend unsuitable securities transactions or strategies? 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. Free Initial Consultation With Experienced Attorneys Serving Bakersfield, California Residents in FINRA Securities Arbitrations Involving Unsuitable Investment Claims At The Law Offices of Robert Wayne Pearce, P.A.  we represent investors in all kinds of securities, commodities and investment law disputes in FINRA, AAA and JAMS arbitration and mediation proceedings. Attorney Pearce and his staff represent investors throughout California, 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 For dedicated representation by Attorney Pearce with over 40 years of experience and success in all kinds of securities, commodities and investment law disputes serving California citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail. 

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Feb 4, 2021

Edmond, Oklahoma Attorney Who Sues Stockbrokers Who Made Unsuitable Investment Recommendations

Did Larry M. Crabtree Cause You Investment Losses? Larry Michael Crabtree, a former Edmond, Oklahoma based registered representative with WFG Investments, Inc. consented to, but did not admit to or deny, the sanction and the entry of the Financial Industry Regulatory Authority’s (FINRA) findings that he exercised discretion in a customer’s account to make unsuitable securities purchases which resulted in substantial losses to his customer. FINRA found that Larry Crabtree, of Edmond Oklahoma, exercised discretion in the IRA account of an elderly retiree with known health problems, limited income and limited liquid assets. Mr. Crabtree allegedly made purchases of securities on his customer’s behalf, one of which was a highly leveraged oil and gas exploration company, which resulted in an almost complete loss when that oil and gas company declared bankruptcy. Mr. Crabtree also allegedly exercised discretionary trades in certain customer accounts, neglecting to get the customers’ or WFG Investment’s prior written authorization as required by FINRA Rule 2010. Consequently, Mr. Crabtree was suspended from association with any FINRA member in any capacity for six months. Due to his financial status, no monetary sanctions were imposed. Do You Need an Attorney for an Unsuitable Investment Recommendation? Oklahoma has hundreds 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 Oklahoma 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 Oklahoma and Nationwide. Are you an Oklahoma 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 areas besides 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 Oklahoma, 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 Experienced Attorney Serving Oklahoma 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 Oklahoma citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail. 

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Feb 3, 2021

Long Beach, New Jersey Lawyer Who Sues Stockbrokers For Unsuitable Investment Recommendations

Did Michael Rubel Cause You Investment Losses? Michael Rubel of Long Beach, New Jersey submitted a Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority in which he was suspended for a period of 45 days. The sanction was based on findings that he allegedly engaged in unsuitable trading in violation of FINRA Rules 2111 and 2010. The suspension was in effect from October 5, 2020, through November 18, 2020. In June 2015, Michael Rubel joined Capitol Securities Management, Inc. and was registered as a General Securities Representative. The firm later filed a Uniform Termination Notice (Form U5) disclosing that Rubel had resigned. According to the FINRA findings, Michael Rubel allegedly recommended to customers that they roll over unit investment trusts (UIT’s) 100 days prior to maturity and to sell them after holding them for only 244 days, using the proceeds to purchase a new UIT. The findings also stated that the purchase of the new UIT series were unsuitable because they generally had the same or similar objectives as the prior series, which caused his customers to incur unnecessary sales charges. In addition, FINRA stated that the customers received reimbursement in connection with a settlement with the firm. FINRA Rule 2111(a) provides in pertinent part that “[a] member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile.” Recommended securities transactions may be unsuitable if, when taken together, they are excessive, the level of trading is inconsistent with the customer’s investment profile, and the registered representative exercises control over the customer’s account. No single test defines when trading is excessive, but factors such as the turnover rate and the cost-to-equity ratio are considered in determining whether a member firm or associated person has violated FINRA’s suitability rule. Do you need a New Jersey FINRA Securities Arbitration Attorney? Are you a Long Beach, New Jersey investor who has suffered significant losses in your stock brokerage and investment accounts?  Did they recommend unsuitable securities transactions or strategies? 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. Free Initial Consultation With Experienced Lawyers Serving Long Beach, New Jersey Residents in FINRA Securities Arbitrations Involving Unsuitable Investment Claims At The Law Offices of Robert Wayne Pearce, P.A.  we represent investors in all kinds of securities, commodities and investment law disputes in FINRA, AAA and JAMS arbitration and mediation proceedings. Attorney Pearce and his staff represent investors throughout New Jersey, 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 For dedicated representation by Attorney Pearce with over 40 years of experience and success in all kinds of securities, commodities and investment law disputes serving New Jersey citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

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Jan 12, 2021

Spokane, Washington Attorney Who Sues Stockbrokers Who Made Unsuitable Investment Recommendations

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. Se habla español 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. 

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