Joseph Charles Schroeder, a former broker with the Plano, Texas branch of Wunderlich Securities, Inc. (Wunderlich Securities), 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 participated in private securities transactions without the necessary written approval from the FINRA member firm.
FINRA found that Mr. Schroeder recommended and sold $300,000 of convertible promissory notes in Titan Energy to several investors, 12 of whom were firm customers. Mr. Schroeder recommended these notes to investors and wired the funds from their Wunderlich Securities accounts to Titan Energy. He then allegedly received compensation from Titan Energy for the sales. Mr. Schroeder neglected to give prior written notice or to obtain prior written approval from Wunderlich Securities to engage in these private securities transactions Continue Reading