February 2017-Houston, Texas
According to publicly available records Michael J. Spears , (CRD# 4501523) , a stockbroker who is currently registered with IMS Securities discloses two pending 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.
In FINRA Case 16-2356, a customer of IMS Securities alleges damages of $1,667,000 for negligence, misrepresentation, failure to supervise and breach of fiduciary duty in connection with investments in real estate investment trusts (REITs).
In FINRA Case 16-01800, a customer of IMS Securities alleges damages of $3,000,000 for negligence, over concentration, breach of fiduciary duty, misrepresentation and failure to supervise in connection with investments in annuities and REITs.
Spears has been employed by IMS Securities since 2002.
IMS Securities has been a FINRA member since 1994 and is headquartered in Houston, TX. They have about 105 associated persons and 57 branch offices.
If you have questions about an account in an account handled by Michael Spears, contact us to discuss your legal options.
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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