Jan 14, 2021

Minneapolis, Minnesota Securities Lawyer For Mutual Fund Investment Disputes

Did James Merle Culbertson Cause You Investment Losses? James Merle Culbertson, a former broker at Minneapolis, Minnesota based Ameriprise Financial Services, Inc., submitted a Letter of Acceptance, Waiver and Consent (AWC) in which he agreed to the described penalties and to the entry of the Financial Industry Regulatory Authority’s (FINRA) findings that he had conversations with customers concerning securities transactions he was recommending; and in these conversations, Mr. Culbertson omitted or misrepresented important information regarding the transactions. FINRA’s findings stated that Mr. Culbertson circumvented his firm’s supervisory review pertaining to mutual fund transactions he effected by not submitting the appropriate documentation or by submitting incomplete or incorrect documentation for the firm’s review.  The firm required its registered representatives, including Mr. Culbertson, to complete and submit documentation concerning certain mutual fund transactions.  The firm applied these procedures to ensure that it reviewed the proposed transactions for suitability and to ascertain that the registered representative recommended the appropriate share class for purchases. According to FINRA, Mr. Culbertson serviced customers’ non-discretionary accounts. Mr. Culbertson received these customers’ orders but did not timely enter the orders for transactions in the customers’ accounts.  Without re-confirming the trades with the customers, Mr. Culbertson instead entered the orders in their accounts on a discretionary basis.  FINRA also found that based on Mr. Culbertson’s recommendation, a customer agreed to surrender his variable annuity and purchase a fixed annuity with the proceeds of approximately $89,346.  These transactions were unsuitable for the customer because funds could be withdrawn from the variable annuity at any time, the variable annuity had a higher guaranteed fixed rate and death benefit, and the fees associated with the variable annuity were lower than those associated with the fixed annuity. Mr. Culbertson of Oakdale, Minnesota was fined $20,000 and suspended from association with any FINRA member in any capacity for 12 months. The fine must be paid either immediately upon Mr. Culbertson’s re-association with a FINRA member firm following his suspension, or prior to the filing of any application or request for relief from any statutory disqualification, whichever is earlier. Do You Need A Securities Lawyer For Mutual Fund Investment Disputes? Minnesota 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 misrepresent and mislead investors about investing in Mutual Funds and engage in all kinds of stockbroker misconduct which violates Federal and Minnesota securities laws and Financial Industry Regulatory Authority (FINRA) rules as well as the stock brokerage firms policies and procedures.  Experienced Securities Attorneys Handling Claims For Mutual Fund Investors 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 stockbroker or investment advisor misrepresent or mislead you about a Mutual Fund investment or make an unsuitable recommendation that you invest in a Mutual Fund or otherwise mismanage your investment account? If so, you will need to have representation from an experienced, highly rated and nationally recognized FINRA securities arbitration law attorney—an attorney who understands Mutual Fund investments and stockbroker abuses related thereto, like when they are making unsuitable investments Class A, B, C shares of other classes of mutual funds to increase their commissions, missing breakpoints to generate higher commissions, switching of mutual funds that are intended long term investments outside of a mutual fund family to generate more commissions for them. You will also need an experienced lawyer who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases and other complex legal issues.  By hiring a top rated and highly successful lawyer like Robert Wayne Pearce with over 40 years of experience with Mutual Fund investment disputes 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 attorneys to recover your investment losses in Mutual Funds and all types of stockbroker misconduct in FINRA arbitration proceedings! At The Law Offices of Robert Wayne Pearce, P.A., we represent investors in all kinds of Mutual Fund and 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, failure to supervise, and unsuitable recommendations of Mutual Funds.  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 Experienced Mutual Fund Investment Lawyer Serving Minnesota Residents In FINRA Arbitration Proceedings The Law Offices of Robert Wayne Pearce, P.A.  are highly experienced lawyers who successfully handle Mutual Fund cases and other securities law matters and 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 Mutual Fund cases 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.

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Jan 14, 2021

Minneapolis, Minnesota Attorney Who Sues For Failure to Supervise Stockbroker

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.

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Jan 13, 2021

Minneapolis, Minnesota Stockbroker Fraud Attorney

Did Cheng-Ying Chen aka Donna Chen Cause You Investment Losses? Cheng-Ying Chen aka Donna Chen, a broker formerly employed by Minneapolis, Minnesota-based Ameriprise Financial Services, Inc., submitted a Letter of Acceptance, Waiver, and Consent (AWC) in which she agreed to the described penalties, without admitting or denying, the entry of the Financial Industry Regulatory Authority’s (FINRA) findings that she exercised discretion when she traded in customer accounts after receiving the customers’ authorization to make the trades anywhere from several days to two months before placing each trade.  FINRA’s findings stated that Ms. Chen also exercised discretion in customer accounts without receiving any order for a definite amount of a specified security.  For all the discretionary trades, Ms. Chen did not obtain the customers’ prior written consent or her firm’s prior written acceptance of the accounts as discretionary.  During this time, the firm prohibited discretionary trading in these types of customer accounts.  Ms. Chen of Houston, Texas was fined $5,000 and suspended from association with any FINRA member in any capacity for 10 business days.  Do You Need A Stockbroker Fraud Attorney? Minnesota 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 engage in one or more kinds of stockbroker fraud. They could make misrepresentations about investing in securities (stocks, bonds, options, mutual funds, REITs, Junk Bonds, Hedge Funds, Structured Products, etc.) they are selling. Unsuitable recommendations of the strategies they recommend (margin, short selling, option) is another kind of stockbroker fraud.  They can engage in many other kinds of stockbroker fraud and stockbroker misconduct which violates Federal and Minnesota securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures.  Experienced Stockbroker Fraud Lawyers Who Handle 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 stockbroker or investment advisor, misrepresent facts about the securities, investments or strategies they were recommending or otherwise mismanage your investment account? If so, you need representation by an experienced, highly-rated and nationally recognized FINRA arbitration lawyer — an attorney who knows FINRA rules and procedures and how to handle these FINRA arbitration cases as well as other complex legal issues.  By hiring a top rated stockbroker fraud 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 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 misrepresentation 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 securities misrepresentation and stockbroker fraud claims such as stockbroker breach of fiduciary duty, stockbroker negligence, failure to supervise stockbrokers, and unsuitable recommendations by stockbrokers.  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 Experienced Stockbroker Fraud Lawyer Serving Minnesota Residents in FINRA Arbitrations The Law Offices of Robert Wayne Pearce, P.A. are highly experienced lawyers who successfully handle securities misrepresentation, stockbroker fraud, stockbroker misconduct 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 Minnesota citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

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