Category Archives: Feltl & Company

Brandt B. Wendland-Feltl & Co. Broker-Named in Customer Arbitration Involving Penny Stocks

Minneapolis, MN

According to FINRA records, Brandt B. Wendland  a broker who has been  registered  with Feltl & Company since  3/2004 , discloses a pending customer dispute involving penny stocks and leveraged exchange traded funds (ETFs).

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 pending FINRA Case 14-2132, a customer alleges damages of $300,000 for unsuitable trading in penny stocks, leveraged exchange traded funds, margin and unauthorized trading.

Feltl & Co. Prior Regulatory Issues related to Penny Stocks and ETFs

Feltl & Co. was fined $1 million in 2014 for issues related to inadequacy of supervision in connection with the sale of penny stocks. See this for more. 

That same year Feltl & Co. was fined $225,000 to resolve allegations that firm procedures related to the sale of ETFs were inadequate. See this for more.

If you have losses in an account handled by Brandt B. Wendland, 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

Bernard T. Weber-Feltl & Co. Broker-Discloses Pending Customer Complaint Alleging Churning

Minnetonka, MN

According to FINRA records, Bernard T. Weber  a broker who has been  registered  with Feltl & Company since  12/2006 , discloses a pending customer dispute, four prior customer disputes, two final regulatory events, one pending financial event and one 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 the pending customer complaint,  which was received by the company on 11/24/2015, the customer alleges damages of $238,000 for churning, failure to follow instructions and misrepresentation regarding the purchase and retention of certain lower priced OTC equities.

Feltl & Co. Prior Regulatory Issues related to Penny Stocks and ETFs

Feltl & Co. was fined $1 million in 2014 for issues related to inadequacy of supervision in connection with the sale of penny stocks. See this for more. 

That same year Feltl & Co. was fined $225,000 to resolve allegations that firm procedures related to the sale of ETFs were inadequate. See this for more.

If you have questions about  a brokerage account handled by Bernard T. Weber , call to discuss your legal options. You may be entitled to 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

Feltl & Co. Broker Timothy O’Brien Sanctioned by Securities Regulator

December 31,2014

Timothy David O’Brien   entered into a Letter of Acceptance, Waiver and Consent  (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he traded the accounts of several his customers at Feltl & Company  without their  prior written authority (exercised discretion)

Industry rules provide that “no member or registered representative shall exercise discretionary power in a customer’s account unless such customer has given prior written authorization to a stated individual or individuals and the account has been accepted by the member…”

From July 2012 to February 2013, O’Brien used discretion to execute over 170 transactions in the customers’ accounts.

Case # 2013036967201

O’Brien was suspended for ten days and agreed to pay a fine of $5,000.

According to FINRA records O’Brien has been  registered with Feltl & Company since  5/4/2012. Prior to that he was registered with Robert W. Baird & Co.

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

Recovery of Losses on Feltl & Co. Exchange Traded Funds

December 29, 2014

Feltl & Company  entered into a Letter of Acceptance, Waiver and Consent  (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that between January 2009 and September 2012, the firm failed to establish adequate supervisory procedures to ensure that the sale of leveraged or inverse exchange-traded funds (non-traditional ETFs) complied with securities laws.

FINRA also found that Feltl brokers violated NASD and FINRA rules by recommending nontraditional ETFs to certain customers without fully understanding the features and risks associated with the ETFs.

Feltl & Company was censured, ordered to pay a fine of $225,000 and restitution of more than $13,000.

If you had significant losses as a result of purchasing leveraged or inverse exchange-traded funds (non-traditional ETFs) from Feltl & Company, 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

James Purtle, Feltl and Company Broker, Sanctioned by FINRA

October 10, 2014-Ramsey, Minnesota

James Harrison Purtle entered into a Letter of Acceptance, Waiver and Consent  (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that from February 2010 through December 2012 he exercised discretion in one customer’s account without obtaining prior written authorization from the customer . Case # 2013036525701.

Purtle was fined $7,500 and suspended for 10 days.

According to FINRA records, Purtle has been registered with Feltl and Company since 4/2005. FINRA records also report that in June 2013 a customer complaint that an account had been churned and charged excessive commissions was settled for over $53,000.

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

Thomas Charbonneau Barred from Securities Industry

Thomas Neil Charbonneau of Arden Hills, MN, was barred from the securities industry to resolve FINRA allegations that between October 2008 and May 2013, he sold 1.7 million shares of a speculative penny stock from his own account, which generated $400,000, while he was recommending to his customers that they buy the stock without disclosing to them that he was selling.

Charbonneau had obtained his shares in 2004 when he helped the company emerge from bankruptcy. His cost basis was less than a penny a share. The customers who took his recommendation and purchased the stock paid up to 65 cents a share.

In addition in 2013, while employed by Berthel Fisher,  Charbonneau  caused a customer to sign in blank an Alternative Investment Suitability Questionaire and other related documents for the purchase of a REIT.

FINRA records indicate Charbonneau was registered with Berthel Fisher & Company Financial Services from 11/2010-12/2013. Prior to that he was with Feltl & Company.

If you had an account with Charbonneau that suffered losses, contact us to learn how you may be able to recover damages.

Rex Securities Law provides nationwide representation to investors 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

561 391 1900