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Stockbroker Richard E. Poston of Plano, Texas Discharged By H. Beck, Inc.-Named in Arbitration

Stockbroker Richard E. Poston of Plano, Texas Discharged By H. Beck, Inc.-Named in Arbitration

Stockbroker Richard E. Poston of Plano, Texas Discharged By H. Beck, Inc.-Named in Arbitration 150 150 Rex Securities Law

September 2019- Plano, Texas

According to FINRA records, Richard E. Poston, a broker who formerly worked for H. Beck, Inc. in Plano, Texas , was discharged in December 2015  for failing to cooperate with an internal investigation. Poston discloses five prior customer disputes.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

Poston’s FINRA record reveals that on December 11, 2015, FINRA made a preliminary determination that disciplinary action be brought against Poston alleging potential violations of FINRA Rules 2010, 2150, 3240 and 8210. Poston is not currently employed in the securities industry. In 2009, Poston filed for Chapter 11 bankruptcy protection in the Eastern District of Texas.

Poston was the subject of FINRA Arbitration 16-0766 in which a customer alleged damages of $200,000 for the recommendation of unsuitable and illiquid investments in non-traded real estate investment trusts (REITs). That case was settled for $185,000.

In FINRA case 17-1789 a customoer of H. Beck alleged that Poston over concentrated his portfolio in high risk, illiquid, non publicly traded REITs and BDCs (business development companies). That case was settled for $25,000.

Poston was employed by H. Beck, Inc. from 3/2010-12/2015. Prior to that he worked for a number of other brokerage firms in the Plano area, including GunnAllen Financial and LPL Financial. 

If you have losses in an account handled by Richard E. Poston , you may be able to recover damages through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

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