San Antonio, TX
JUNE 2017 UPDATE-On behalf of a retired widow from Austin, TX, Rex Securities Law filed a FINRA arbitration against Sanders Spangler’s former employer LPL Financial. See this for more details.
ORIGINAL POST April 2017-
The FINRA records of Sanders Lane Spangler , a stockbroker who is not currently registered with any broker dealer disclose a recent termination from employment.
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 2/2017 Spangler was discharged by LPL Financial who made the following allegation on his FINRA record: “Exercising discretionary power in customer account(s) in violation of firm policy. “
Sanders Spangler was with LPL Financial from10/2005-3/2017.
If you have losses in an account in an account handled by Sanders Spangler , you may be able to recover damages through FINRA arbitration.
In the securities industry exercising discretion means that the customer has authorized the broker to buy and sell securities without first consulting with the customer on each transaction. To avoid regulatory issues and to comply with firm policy, this permission must be granted in writing. Most accounts are not discretionary accounts, meaning that the broker is required to consult with the customer before making a purchase or sale in the account.
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.
Florida-561 391 1900