Former Cetera Financial Broker in Coral Springs Sanctioned by Securities Regulator

July 13, 2015

Ingrid Bachelor  entered into a Letter of Acceptance Waiver and Consent (AWC)  with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that she engaged in discretionary trading in violation of NASD Rule 2510(b) and FINRA Rule 2010.

Bachelor was suspended for 10 days and fined $5,000.

FINRA AWC 2014043838001

According to FINRA records, Bachelor was registered with Cetera Financial Specialists in Coral Springs, FL from 6/2004-12/2014.

A discretionary account allows a broker to buy and sell securities without the client’s consent. The client must sign a discretionary trading authority form granting the broker permission to handle the account in such a manner.

 

Rex Securities Law , located in Boca Raton, FL, (and soon to be opening an office in Bee Cave, just outside of Austin, TX)  provides representation to  investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900

Former Tuscaloosa Raymond James Broker Barred From Industry for Misappropriating Commissions

July 10, 2015-Tuscaloosa. AL

Crosby Morrow Thomley  entered into a Letter of Acceptance Waiver and Consent (AWC)  with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that while associated with Raymond James & Associates he converted approximately $200,000 from another Raymond James broker by redirecting commissions to himself which should have been split with the other broker, thereby violating FINRA Rule 2010.

Thomley was barred from associating with any FINRA member in any capacity.

FINRA AWC 2014042799101

According to FINRA records, Thomley was registered with Raymond James  from 2/2013-9/2014. Prior to that he was registered with Morgan Keegan & Company.

Rex Securities Law , located in Boca Raton, FL, (and soon to be opening an office in Bee Cave, just outside of Austin, TX)  provides representation to  investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900

Former H.D. Vest Broker Sanctioned for Failing to Report Personal Bankruptcy to FINRA

July 10, 2015-

Jose Palacio  entered into a Letter of Acceptance Waiver and Consent (AWC)  with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he violated FINRA Rules 1122 and 2010 by failing to report to FINRA the fact that, while associated with H.D. Vest , he filed a Chapter 7 bankruptcy proceeding and willfully failed to disclose it on FINRA forms.

Palacio was suspended for four months from association with any FINRA member in any capacity and assessed a $5,000 fine.

FINRA AWC 2014042059901

According to FINRA records, Palacio was registered with H.D. Vest Investment Services from 4/2010-3/2015 in Ellicott City, MD. Prior to that he was registered with PSA Equities in Columbia, MD.

Rex Securities Law , located in Boca Raton, FL, (and soon to be opening an office in Bee Cave, just outside of Austin, TX)  provides representation to  investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900

Former Summit Brokerage Services Broker From Nokomis, Florida, Sanctioned by Securities Regulator

July 14, 2015-Nokomis, Florida

Kelly R. Brantley  entered into a Letter of Acceptance Waiver and Consent (AWC)  with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that she had received from a customer signed, but otherwise blank firm documents from three customers of Summit Brokerage Services. Summit had written supervisory procedures expressly requiring that all firm forms be fully completed prior to a client affixing his or her signature.

By virtue of accepting signed forms that were not filled out, Brantley violated FINRA Rule 2010.

Brantley was suspended for on month from association with any FINRA member in any capacity. No monetary sanctions were imposed based on a sworn financial statement submitted by Brantley which demonstrated an inability to pay.

FINRA AWC 2014041932201

According to FINRA records, Brantley is currently registered with FSC Securities. She was registered with Summit Brokerage Services  from 5/2012-7/2014. Prior to that she was registered with Edward Jones in North Port, FL.

Rex Securities Law , located in Boca Raton, FL, (and soon to be opening an office in Bee Cave, just outside of Austin, TX)  provides representation to  investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900

Former PRUCO Securities Broker Christopher Yoon Barred by FINRA

July 14, 2015

Christopher Yoon  entered into a Letter of Acceptance Waiver and Consent (AWC)  with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he:

  • lied to a life insurance beneficiary to obtain a signed blank check
  • forged or caused to e forged customer signatures on life insurance application and related documents

According to the AWC, Yoon instructed the life insurance beneficiary to write a check for $55,445.84, but to leave the payee line blank. Yoon told the beneficiary that the check was to pay for a purported penalty associated with paying out the $650,000 death benefit. There was in fact no such penalty.

After discussing the request with others, the beneficiary stopped payment on the check. Yoon ultimately returned the check, but only after lying about why he requested it.

Yoon was barred from associating with any FINRA member in any capacity.

FINRA AWC 2014041304001

According to FINRA records, Yoon was registered with PRUCO Securities in Paramus, New Jersey, from 8/2009-9/2014.

Rex Securities Law , located in Boca Raton, FL, (and soon to be opening an office in Bee Cave, just outside of Austin, TX)  provides representation to  investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900

Investigation of Broker RD Easterling-Chipley, Florida

July 17, 2015-Chipley, FL

On behalf of a former customer who believes his account was improperly handled , Rex Securities Law is investigating stock broker RD Easterling.  

FINRA records reveal that Easterling has been named  in  5  customer complaints.  In one of the cases the client alleged negligence, misrepresentation, breach of fiduciary duty, fraud and deceptive trade practices in connection with the investment in an annuity. The customer also alleged that certain documents had been forged. That case was settled for $100,000.

Easterling was registered with Summit Brokerage Services from 01/2009 until 6/2015. He is currently registered with J.W. Cole Financial.

If you have information relative to this investigation we would appreciate hearing from you. If you have losses in an account handled by RD Easterling , call to learn how you may be entitled to collect damages from his former employing firm.

Rex Securities Law , located in Boca Raton, FL, (and soon to be opening a second office in Bee Cave, just outside of Austin, TX)  provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900

James Warr of Austin Indicted For Securities Fraud

July 16, 2015-Austin, Texas

James Elton Warr has been indicted by a Travis County grand jury on charges of securities fraud, according to the Austin Statesman. Warr was arrested in June 2015 on four felony counts in connection with the sale of over $1 million in securities based on real estate notes and loans sold by Warr and his company Warr Investment Group, LLC.

In 2010 the Texas State Securities Board issued an Emergency Cease and Desist against Warr, his company and former director of sales for the company, Mark Cuba.

A Travis county district court judge issued and injunction against Warr in 2011 ordering the seizure of assets and appointed a receive to recapture and redistribute the assets to victims.

Rex Securities Law , located in Boca Raton, FL, (and soon to be opening an office in Bee Cave, just outside of Austin, TX)  provides representation to  investors in Texas and nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900

Cape Securities Fined $125K by Securities Regulators

May 5, 2015

Cape Securities  entered into a Letter of Acceptance Waiver and Consent (AWC)  with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that:

  • from 2/2012-9/2012 Cape Securities failed to establish, maintain and enforce supervisory systems designed to detect and prevent fraudulent wire transfer activity by its brokers.
  • Cape Securities Anti-Money Laundering (AML) systems and procedures were inadequate to ensure appropriate reporting of potentially suspicious money movement
  • from 10/2011-2/2013 Cape Securities supervisory system was inadequate and failed to identify and prevent unsuitable excessive trading and churning in customer accounts

Cape Securities was censured and  fined $125,000 .

FINRA AWC 2013035211002

Cape Securities has been a FINRA member since 1976. It has 118 registered representatives who operate out of a main office in McDonough, Georgia, and 20 branch offices and 79 non-registered office locations.

If you have an account with Cape Securities that has suffered losses, you may be entitled to damages. Call to discuss your legal options.

Rex Securities Law , located in Boca Raton, FL, (and soon to be opening an office in Bee Cave, just outside of Austin, TX)  provides representation to  investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900

Former Lowell and Company Broker From Lubbock Sanctioned by Regulators

July 10, 2015-Lubbock, TX

Jeffery Karl Hobgood  entered into a Letter of Acceptance Waiver and Consent (AWC)  with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he willfully failed to amend FINRA disclosure forms to disclose an IRS tax lien of $212,000 .

Failure to disclose the lien with thirty days of receipt is a violation of FINRA Rules 1122 and 2010.

 

Hobgood was fined $5,000 and suspended for six months.

FINRA AWC 2014039092901

According to FINRA records, Hobgood was registered with Lowell and Company from 9/2010-5/2015. Prior to that he was registered with Prospera Financial Services.

Rex Securities Law , located in Boca Raton, FL, (and soon to be opening an office in Bee Cave, just outside of Austin, TX)  provides representation to  investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900

Former Wunderlich Securities Broker Sanctioned By Regulators-Plano

July 10, 2015-Dallas, TX

Joseph C. Schroeder entered into a Letter of Acceptance Waiver and Consent (AWC)  with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he:

  • violated NASD Rule 3040 and FINRA Rule 2010 by participating in undisclosed securities transactions
  • violated FINRA Rules 3240 and 2010 by borrowing money from a client in contravention of his firm’s policies
  • exercised discretion over a client account without written authorization (traded without authority)

According to the Order,  Schroeder sold $300,000 worth of convertible promissory notes in Titan Energy to firm customers without obtaining permission from his firm. From October 2008-August 2013, Schroeder exercised discretion in the customer’s account without receiving prior written discretionary authority.

Schroeder was fined $20,000 and suspended for 12 months. According to FINRA records, Schroeder was registered with Wunderlich Securities in Plano, Texas, from 8/2008-8/2013. Prior to that he was registered with Riverstone Wealth Management in Dallas, Texas.

Disciplinary Proceeding 2012031181001

Rex Securities Law , located in Boca Raton, FL, (and soon to be opening an office in Bee Cave, just outside of Austin, TX)  provides representation to  investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900

Current information for investors seeking information on recovery of investment losses due to the negligence or fraud of stockbrokers and brokerage firms. Nationwide representation.