Plano, Texas
UPDATE APRIL 2017-FINRA records reveal that Richard E. Poston is not currently registered as a broker. In July 2016, FINRA case # 16-0766, see below, was settled for $185,000.
ORIGINAL POST JUNE 2016–According to FINRA records, Richard E. Poston, a broker who worked for H. Beck, Inc. in Plano, Texas , until he was discharged in December 2015 for failing to cooperate with an internal investigation, has recently been named in a customer dispute.
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.
In March 2016 a customer of H. Beck, Inc. has instituted FINRA Case# 16-0766 seeking $200,000 in damages. The customer claims that he was sold an unsuitable concentration of illiquid investments in non-traded real estate investment trusts (REITs) between 10/2007-9/2015.
Poston’s FINRA record also discloses 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. Wells Notice Examination #20150455785.
Poston is not currently employed in the securities industry as of July 5, 2016.
In 2009, Poston reports he was discharged from a Chapter 11 bankruptcy protection in the Eastern District of Texas.
Poston was employed by H. Beck, Inc. from 3/2010 until his discharge in 12/2015. Prior to that he worked for a number of other brokerage firms in the Plano area, including GunnAllen Financial and LPL Financial.
Investors with losses in accounts handled by Richard E. Poston , may be able to recover damages through FINRA arbitration. FINRA arbitration is a method of dispute resolution that is typically much shorter in duration than court litigation.
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.
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