Derek Rehill Investigation
June 2023-Garden City, NY
According to publicly available records Derek John Rehill, a VCS Venture Securities broker discloses a final regulatory matter.
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.
Without admitting or denying the findings, Rehill consented to the sanction and to the entry of findings that he prepared inaccurate customer contact notes reflecting telephone calls with customers. The findings stated that Rehill was responsible for periodically calling customers whose accounts his member firm had identified as “actively traded” to confirm, among other things, the investment objective and risk tolerance reflected on the customer’s new account form. For each call, Rehill was required to complete a customer contact form which included fields for him to record whether the customer had confirmed his or her investment objective and risk tolerance. Rehill completed customer contact forms that inaccurately stated that customers had confirmed their investment objectives and risk tolerances. Rehill completed customer contact forms reflecting that customers had confirmed they had a speculative investment objective when, in fact, the customers had not. Rehill also completed a customer contact form reflecting that a customer had confirmed he had a speculative risk tolerance when he had not asked the customer any questions about his risk tolerance.
Sanctions imposed by FINRA: A 2 month suspension from FINRA in all capacities. FINRA noted “In light of Rehill’s financial status, no monetary sanction has been imposed.
Rehill has been with VCS Venture Securities since 9/2021. Before that he was with Joseph Stone Capital .
If you have suffered losses in an account handled by Derek Rehill, contact us for a no charge consultation to learn how 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.
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