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Articles Tagged with Spokane Washington Stockbroker Misconduct Attorney

Ronald Walter Hannes of Spokane, Washington submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was barred for allegedly failing to produce documents and information requested by FINRA in violation of FINRA Rules 8210 and 2010.

From September 1986 to December 2019, Ronald Walter Hannes was registered as an Investment Company and Variable Contracts Products Representative (IR) with Woodbury Financial Services (Woodbury). According to the FINRA findings, Ronald Walter Hannes allegedly refused to provide documents and information to FINRA during their investigation regarding the allegations that he converted customer funds. The FINRA findings stated that Woodbury terminated Hannes after receiving notice from a client that funds were paid to Hannes for the purchase of life insurance that were not sent to the company. Without admitting or denying FINRA’s findings, Ronald Walter Hannes consented to the sanctions and has been barred from association with any FINRA member in all capacities. Continue Reading

Richard Seefried, of Spokane, Washington, submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was fined and suspended for unsuitable recommendations of convertible notes.

FINRA found that while employed with Spencer Edwards, Inc., Richard Seefried failed to adequately investigate representations made by the issuer of convertible promissory notes.  According to the FINRA AWC, Mr. Seefried failed to investigate 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.  Mr. Seefried made unsuitable recommendations to two of his customers, sold $200,000 of the notes and received commission of $13,600. Continue Reading

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