Category Archives: EDI Financial

EDI Financial in El Paso, Texas Ordered to Pay Customer $273K

January 19, 2016-El Paso, Texas

A Financial Industry Regulatory Authority (FINRA) arbitration panel ordered stock brokerage firm EDI Financial, Inc. to pay a customer $273,606 in damages and attorney fees. The customer claimed that EDI Financial was negligent, failed to supervise the broker, made misrepresentations and traded the account without authority. In addition, the customer claimed that trading in the account was excessive and unsuitable for his stated risk tolerance. FINRA Case #14-1822, Azar vs. EDI Financial. 

FINRA records indicate that William S. Thurmond has been a broker for EDI Financial in El Paso since 1997.

EDI Financial has been a FINRA member since 1986, is headquartered in Irving, Texas, and has 70 brokers in 22 branch offices. In 2015 EDI FInancial was censured and fined $100,000 over it sales practices involving private placements. See this for more. 

If you have losses in an account at EDI Financial, contact us 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.

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

EDI Financial of Irving, Texas, Sanctioned Over Sale of Private Placements

February 25, 2015

EDI Financial, Inc.   entered into a Letter of Acceptance, Waiver and Consent  (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that the company failed to adopt and implement supervisory systems and procedures reasonably designed to achieve compliance the firm’s suitability obligations in connection with the sale of private placements.  FINRA alleged that EDI failed to adequately supervise whether sufficient due diligence was conducted on private placements.

In addition FINRA found that EDI Financial failed to supervise adequately mutual fund switches and maintained inaccurate records concerning mutual fund switches and lacked adequate written procedures related to non-branch inspections.

EDI Financial was censured  and fined $100,000.

FINRA Case # 2012032643701

EDI Financial has been a FINRA member since 1986, is headquartered in Irving, Texas, and has 70 brokers in 22 branch offices. If you have losses on private placements or mutual funds in an account at EDI Financial, you may be able to recover damages. 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