Category Archives: Selling Away

William W. Marshall-Ameriprise Broker-Discloses 4 Pending Customer Arbitrations-Plano, TX

October 2017-Plano, TX

The FINRA records of  William W. Marshall ,  a  stockbroker who is currently registered with Ameriprise Financial Services disclose a prior regulatory event, 4 pending customer disputes including at least one claim that alleges a fraudulent investment.

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 June 2016 Marshall was sanctioned by FINRA who found that he participated in the sale of $1.72 million of privately issued preferred stock without approval of his employing firm and that he received common stock purchase warrants as compensation for serving as a member of the advisory board of the issuer. FINRA found that the offering materials, including sales literature, contained misleading, exaggerated and/or unwarranted statements and inadequate risk disclosures. Marshall was fined $10,000 by FINRA and was suspended from 3/2016-6/2017. FINRA Case 2012033291204.

The pending customer disputes include:

  • A customer of Ameriprise Financial alleges that they were sold two fraudulent investments: $100,000 in Colorado Rare Earths and $100,000 in WestMountain Index Advisors now known as WestMountain Gold. FINRA Case 17-2240
  • A customer of Ameriprise Financial alleges that Marshall recommended they invest $150,000 in an outside investment, BioChemics, without disclosing material information and his relationship to it. FINRA Case 17-1801.
  • A customer of Ameriprise Financial alleges that there was a failure to conduct reasonable due diligence in connection with the sale of Colorado Rare Earths which was represented as a conservative, low risk investment. Damages of $100,000 are sought. FINRA Case 17-1575
  • A customer of Hilltop Securities alleges selling away, misrepresentation and unsuitable recommendations of unregistered securities and seek $350,000. FINRA Case 17-1564.

William Marshall’s employment history includes:

  • Ameriprise Financial Services                     12/2010-present
  • Southwest Securities (now Hilltop)            10/19999-12/2001

If you have losses in an account in an account handled by William W. Marshall , 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

Jason H. LeBlanc-Former Girard Securities Broker-Barred From Securities Industry-Fulshear, TX

September 2017 -Fulshear, Texas

According to publicly available records Jason H. LeBlanc (CRD#2483182) , a  former stockbroker who was last employed by Girard Securities , disclose  a prior regulatory event,  3 prior customer disputes and a termination.

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 June 2017 LeBlanc was permanently barred from the securities industry by FINRA to resolve allegations that he failed to disclose several outside business activities and provided inaccurate information about an outside business activity to Girard Securities.

The FINRA findings, which LeBlanc consented to without admitting or denying state:

  • LeBlanc misused customer funds by applying a customer’s money to an an investment other that the one he represented to her
  • LeBlanc sold a promissory note from one customer to another for $23,000
  • The second customer was led to believe she was investing in a coffee shop, instead LeBlanc returned $3,000 to the customer and invested the remaining $20,000 in a real estate investment company, without informing the customer
  • LeBlanc misused customer funds by commingling personal and customer funds

LeBlanc was employed by Girard Securities 4/2009-9/2015. He was discharged by Girard in 9/2015 when they learned of his outside business activities.

If you have questions about an account handled by Jason H. LeBlanc,  contact us to discuss your options.

Girard Securities is a part of the Cetera Financial Group. Girard has been a FINRA member since 1988 and is headquartered in San Diego, CA. The company has about 478 registered persons in 139 branch offices nationwide.

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.

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Paul W. Smith-Former Bolton Global Capital Broker Investigated Over Haverford Investment-Wayne, PA

September 2017 -Wayne, PA

According to publicly available records Paul W. Smith (CRD#1070735) , a  former stockbroker who was last registered with Bolton Global Capital , disclose  a final regulatory event , 7 pending customer disputes, 4 prior customer disputes and a 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 June 2017 FINRA permanently barred Paul W. Smith from the securities industry for failing to provided documents and information requested by FINRA related to the sale of private securities. Smith consented to the sanction without admitting or denying the FINRA findings.

The pending customer disputes and arbitrations relate to investments in the Haverford Group and an Investment Club. Damages sought in the pending cases exceed $500,000.

Smith was employed by Bolton Global Capital 5/2007-2/2017. He was discharged by Bolton Global Capital 2/2017 who made the followng allegation on his official FINRA record: “SEC notified Bolton Global Capital that Mr. Smith had engaged in a private securities transaction without first notifying the firm.”

If you have questions about an investment you made with Paul W. Smith,  contact us to discuss your 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.

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

William B. Wyman-Former Royal Alliance Assoc. Broker-Barred From Securities Industry-Palm Bay, FL

April 2017- Palm Bay, FL

The FINRA records of  William B. Wyman ,  a  former stockbroker who was  employed by  Royal Alliance Associates disclose a prior regulatory event,  a pending customer dispute, two prior customer disputes and an outstanding judgment.

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 May 2017 Wyman was permanently barred from the securities industry by FINRA for failing to respond to information requests from FINRA leading to suspension and then a bar after he failed to request termination of his suspension.

In the currently pending matter a customer of Royal Alliance Associates seeks damages of $97,500 and alleges negligence in connection with an investment in a pool hall/bar that was sold away from the firm.

 

William Wyman was employed by Royal Alliance Associates from 7/2000-2/2016 and then by Ameriprise Financial 2/2016-11/2016.

If you have questions about an account  handled by William Wyman call for a no charge consultation.

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

Mark A. Kemp Investigation-McNally Financial Services Broker-Corpus Christi, TX

June 2017 – Corpus Christi, Texas

According to publicly available records Mark A. Kemp  (CRD#2057200) ,  a  stockbroker who currently works for San Antonio-based McNally Financial Services Corp.  discloses a prior regulatory event, 7 prior customer disputes and 2 terminations 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 4/2012, Kemp was fined $5,000 and suspended five days by FINRA to resolve allegations that in 11/2009 while employed by NEXT Financial Group, he mismarked seven order tickets for a penny stock as unsolicited when, in fact, they were solicited. FINRA Case 2009018570501.

Prior customer disputes against Mark A. Kemp resulting in the payment of compensation include:

  • FINRA Case 9-5086-While employed by Hornor, Townsend and Kent a customer sought damages of $320,000 and alleged that Kemp engaged in unauthorized trading and recommended unsuitable securities and annuities inconsistent with their financial situation, risk tolerance and investment objectives. That case settled for $43,000.
  • FINRA Case 9-03476-A customer of Hornor, Townsend and Kent sought damages of $538,900 alleging that Kemp misled them about suitable strategies and investments, engaged in unauthorized transactions and failed to follow their directions. The case settled for $145,000.
  • Nueces County, TX,  Case 00-4498C- a group of customers of MONY Securities Corporation alleged that Kemp and others were engaged in the sale stock in Worldhome Industries. The customers alleged that none of the funds they invested went to the compan. That case was settled for $1,133,000.

Kemp has been employed  by McNally Financial Services since 4/2010.  He was previously employed by NEXT Financial Group, Hornor, Townsend & Kent and MONY Securities. Kemp discloses a business affiliation with Kemp Financial Services in Corpus Christi, TX.

In 11/1998 Kemp was discharged by MONY Securities who alleged that Kemp participated in selling of private, non approved, securities, “selling away”.

In 11/2009 Kemp was discharged by NEXT Financial Group who made the following allegation on Kemp’s FINRA record: “Solicitation of penny stock in violation of firm policy and failure to observe high standards of commercial order and equitable principal trade.” Kemp indicated on FINRA records that he was discharged because it was alleged that he solicited a penny stock against firm policy.

If you have losses in an account handled by Mark A. Kemp, you may be able to recover damages from his employer through FINRA arbitration. Call to discuss your 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Joe L. Buckner-Former Brazos Securities Broker-Barred From Industry by FINRA-Dallas, TX

May 2017- Dallas, TX

The FINRA records of  Joe L. Buckner,  a  former stockbroker who was last employed by  Brazos Securities discloses a prior regulatory event, a pending customer dispute, a regulatory investigation and a 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 12/2015 Buckner was permanently barred from the securities industry by FINRA for failing to respond to FINRA’s request for information.

In 3/2015, Buckner was the subject of an investigation by the Texas State Securities Board involving an investor complaint.

Brazos Securities reports that a customer alleges to have invested $25,000 into a business owned by Buckner that has not been paid back to them. That matter is currently pending.

 

Buckner was employed by Brazos Securities from 10/1996-5/2015. He was also employed by Maplewood Investment Advisors and La Jolla Capital Corp.

If you have questions about an account  handled by Joe L. Buckner call for a no charge consultation.

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

RIcky R. Moore-Sagepoint Financial Broker-Discloses Regulatory Suspension/Fine-Angleton, TX

May 2017-Angleton, TX

The FINRA records of RIcky R. Moore,  a  stockbroker who is employed by  Sagepoint Financial  disclose a final regulatory event, 3 prior customer disputes and a 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 1/2017 FINRA suspended Moore for four months and fined him $37,131 to resolve allegations that he failed to disclose to his firm his outside business activities involving the facilitation of a church bond offering for a church. FINRA alleged that Moore made a false and misleading statement on his firm’s annual compliance questionnaire which asked if he had participated in raising capital.

In FINRA case 12-02353 a customer of Moore’s prior employer, LPL Financial was paid $60,000 to settle claims that they requested Moore place them in a conservative portfolio but he recommended a portfolio overly concentrated in variable annuities and REITs (real estate investment trusts).

Ricky Moore has been employed by Sagepoint Financial since 12/2013. His prior employers include Securities America, Commonwealth Financial Network and LPL Financial Corp. Moore discloses a business affiliation with Oak Financial Group in Angleton, TX.

In 9/2013, Moore was ‘permitted to resign’ from Commonwealth Financial Network who made the following allegation on his FINRA record: “RR was the president of an outside business activity that subsequently engaged another broker-dealer to issue bonds on behalf of the entity, distributed a notice of the sale of bonds on behalf of the entity, and failed to provide prior written notice to or receive written approval from the firm, in violation of FINRA Rules 3270, and 2210..”

If you have questions about an account  handled by RIcky Moore , contact us to discuss your 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870