April 2017- Spring Lake, New Jersey
According to publicly available records Richard G. Cody , (CRD# 2794558) , a currently unregistered stockbroker who last worked for IFS Securities , has numerous disclosures:
- 1 pending and 1 prior regulatory event
- 1 civil lawsuit
- 8 currently pending customer diputes
- 3 prior customer disputes
- 3 currently pending regulatory investigations
- 1 termination from employment
- 1 outstanding judgment/lien
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 December 2016 the SEC instituted litigation charging Cody with defrauding his retired clients by concealing the fact that their retirement accounts had suffered extensive losses and that the monthly payments they were receiving were exhausting their retirement savings. The SEC alleges that Cody concealed their substantial losses by making materially misleading statements, leading the clients to believe that their investments were maintaining steady value and that their monthly withdrawals were being financed by investment gains.
Richard G. Cody‘s employment in the securities industry includes IFS Securities, Concorde Investment Services and Westminster Financial Securities.
In September 2016 Cody was discharged by IFS Securities.
We are interested in speaking with former customers of Richard G. Cody.
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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