Category Archives: Deutsche Bank Securities

Todd D. Ryman -Suntrust Investment Services Broker-Discloses Customer Disputes-Atlanta, GA

June 2017 – Atlanta, GA

The FINRA records of Todd D. Ryman ,  a  stockbroker previously employed with  Raymond James & Associates, Inc.  disclose  a prior regulatory matter and 6 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.

Prior customer disputes include:

May 2017-A customer of Deutsche Bank Securities alleged damages of $250,000 related to the sale of an unsuitable private equity fund. That case was settled for $205,193.

FINRA Case 14-02095- A customer of Merrill Lynch sought damages of $100,000 alleging that Ryman made unsuitable investment recommendations, made unauthorized trades and misrepresented material facts. That case settled for $47,500.

June 2009- A customer of Banc America Investment Services alleged unauthorized trading in auction rate securities. That case settled for $5 million.

 

Ryman is currently employed by  Suntrust Investment Services. His prior employment includes Raymond James & Associates, Inc.,Deutsche Bank Securities, Inc. Merrill Lynch, Pierce, Fenner & Smith Incorporated and Banc of America Investment Services.  

If you have losses in an account in an account handled by Todd D. Ryman  contact us to discuss how you may be able to recover damages for those losses.

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

FINRA Fines 10 Firms $43.5 Million On “Toys R Us” IPO

December 11, 2014

The Financial Industry Regulatory Authority (FINRA) fined 10 brokerage firms a total of $43.5 million for allowing their analysts to solicit investment banking business and for offering favorable research coverage in connecting with the 2010 IPO of Toys R Us.

Firms and fines:

  • Barclays Capital                    $5 million
  • Citigroup Global Mkt         $5 million
  • Credit Suisse                           $5 million
  • Goldman Sachs                      $5 million
  • JP Morgan Sec.                      $5 million
  • Deutsche Bank                      $4 million
  • Merril Lynch                            $4 million
  • Morgan Stanley                     $4 million
  • Wells Fargo                              $4 million
  • Needham & Co.                     $2.5 million

Entire FINRA Press Release here. 

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

FINRA Levies $770K Fine-Failure to Deliver Prospectus

The Financial Industry Regulatory Authority (FINRA) recently assessed fines of $770,000 to the following five firms for failing to deliver prospectuses to purchasers of securities:

  • LPL Financial LLC – $400,000
  • State Farm VP Management Corp. -$155,000
  • Deutsche Bank Securities Inc. – $125,000
  • Scottrade Inc. – $50,000
  • T. Rowe Price Services, Inc. -$40,000

FINRA’s review covered from January 2009 through June 2011. In the settlement agreements, FINRA made the following observations:

LPL Financial relied on brokers to deliver the prospectuses but had no procedure in place to determine if they were delivered in a timely manner. LPL was required to deliver over 3 million of these disclosure documents during the review period.

State Farm, who should have delivered over 150,000 during the review period was found to have inadequate supervisory procedures in place.

Scottrade, Deutsche Bank Securities and T. Rowe Price were found to have failed to make delivery of the documents in fewer instances, with inadequate procedures in place.

A prospectus is a disclosure document that describes a security to potential buyers. Sometimes referred to as containing “the hundred and one reasons not to invest” in the particular security, it contains detailed information about the the company’s business and competition and more importantly contains downside risks generally not mentioned by the selling broker.

For the obvious reason, the law generally requires that the document be made available to the purchaser prior to making the purchase.

If you have questions about losses in your brokerage account, please contact us for a no charge consultation. We have been helping investors recover stock market losses due to fraud and negligence for 25 years.

Nationwide representation.

Rex Securities Law

561 391 1900