Articles Tagged with Tampa Florida Stockbroker Misconduct Attorney

Paul Reid Richardson, of Temple Terrace, Florida, submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Department of Enforcement of the Financial Industry Regulatory Authority (FINRA) in which he was suspended for 60 days for failing to supervise wire-transfer activity in customer accounts.

Paul Richardson, a former registered principal with the Tampa, Florida branch of Cabot Lodge Securities LLC (Cabot), consented to, without admitting or denying, the sanctions and FINRA’s findings that he approved third-party wire transfers totaling nearly $89,000 from two customer accounts, which were later found to have been made by an imposter. By authorizing the wire-transfers, Mr. Richardson allegedly failed to properly review the distribution requests for funds. According to FINRA, Mr. Richardson relied on the representations of a firm broker as opposed to verbally confirming the wire instructions with the customers. Continue Reading

Richard Happle, a former registered representative with Tampa, Florida-based Raymond James & Associates, Inc. (Raymond James) submitted a Letter of Acceptance, Waiver and Consent in which he consented to, but did not admit to or deny, the Financial Industry Regulatory Authority’s (FINRA) findings that he failed to execute a customer trade order, thereby allegedly causing his customer to suffer approximately $28,000 in losses.

According to FINRA, Richard Happle, of St. Petersburg, Florida, was instructed by his customer to sell all shares of a certain stock held in his account at the market open the following day. The next day, Richard Happle allegedly decided not to sell the customer’s stock shares due to the fact that the stock price was falling rapidly and he wanted to talk over the decision to sell with his customer. The customer, however, lived in Alaska and Richard Happle delayed contacting him by a few hours due to the time zone difference. Continue Reading