Category Archives: HilltopSecurities (formerly Southwest Securities)

Hilltop Securities Discloses Recent Regulatory Events-Dallas, TX

October 2016-Dallas, Texas

The FINRA records of  Hilltop Securities,  a  stock brokerage firm headquartered in Dallas, Texas, disclose 49 prior regulator events that are final and 22 prior customer arbitrations.

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.

The most recent regulatory matters include:

  • November 2016-In November 2016, Hilltop Securities was censured and fined $10,000 to resolve allegations by FINRA that the firm failed to disclose material aspects of its relationship with its significant execution venues as it pertains to order flow arrangements in violation of SEC Rule 606 of regulation NMS.
  • June 2016-The State of Mississippi found that the firm, through its agent John Alstadt, guaranteed that a client would receive shares of common stock in connection with the purchase of bonds and that the firm effected municipal bond transactions in amounts below the minimum denomination set for the bonds. The firm was fined $1,000 and paid restitution of $5,379.
  • May 2016-FINRA censured Hilltop Securities and assessed a $40,000 fine to resolve allegations that the firm effected bond transactions in amounts below the minimum authorized level and did not have adequate supervisory procedures.
  • February 2016- The Securities & Exchange Commission (SEC) issued an injunction against Hilltop Securities, a cease and desist order and assessed a fine of $360,000 in connection with inadequate due diligence and misleading disclosures related to municipal bond sales.

Hilltop Securities, headquartered in Dallas, Texas, is a full service retail brokerage firm with about 581 brokers in 64 branch offices. Hilltop Securities was created by the merger of FirstSouthwest and Southwest Securities.

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

Leighton Stallones-Hilltop Securities Broker-Discloses Pending Customer Dispute-San Marcos, TX

January 2016- San Marcos, Texas

According to publicly available records Walter L. (Leighton) Stallones , (CRD# 433344) ,  a  stockbroker who is currently employed by Hilltop Securities disclose that he is the subject of one pending customer dispute and four prior customer disputes that have been settled.

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.

The current customer dispute is pending in the Supreme Court of the State of New York. The customer seeks damages of $1.6 million related to a defaulted loan from Pratt Foreclosures, LLC to SSJ Development, LLC. Plaintiff asserts claims for fraud, negligent misrepresentation, breach of contract and breach of fiduciary duty.

In one of the prior customer disputes,  a customer alleged damages of $6 million claiming that Southwest Securities (now known as Hilltop Securities) through Leighton Stallones, SSJ Gerritsen Beach, SSJ Mill Basis and SSJ Sheepshead Bay provided false financial information, including fabricated account statements. That case was settled for $3,850,000.

Hodges has been employed by Hilltop Securities  and Hilltop Securities Independent Network since 2000.

If you have questions about an account in an account handled by Leighton Stallones , contact us to discuss your legal 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

Douglas L. Hodges-Hilltop Securities-Discloses Pending FINRA Examination-Dallas, TX

January 2016- Dallas, Texas

According to publicly available records Douglas L. Hodges , (CRD# 4253217) ,  a  stockbroker who is currently employed by Hilltop Securities disclose that he is the subject of FINRA examination #20130349540.

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.

FINRA alleges that Mr. Hodges, for the period April 2012-March 2014, violated NASD Rule 2010 and FINRA Rule 2010 by failing to adequately supervise the activities of a registered representative.

Hodges has been employed by Hilltop Securities  and Hilltop Securities Independent Network since 2000.

If you have questions about an account in an account handled by Douglas L. Hodges , contact us to discuss your legal 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

Richard M. Ohlhaber-Former Southwest Securities Broker-Discloses Pending Customer Disputes/Regulatory Actions-Grapevine, TX

June 2016-Grapevine, Texas

According to FINRA records,  Richard M. Ohlhaber   a stockbroker  who most recently was  employed by FSC Securities Corp., Inc. , discloses two pending customer disputes. He also discloses  3 prior final regulatory events , 8 prior final customer disputes and has been permanently barred from the securities industry .

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 currently pending FINRA Case 15-02113, a customer while Ohlhaber was employed by Southwest Securities (now known as Hilltop Securities) ,  alleges damages of $230,000 for losses incurred by following Ohlhaber’s recommendation to invest in Life Partners, Inc. , an unregistered security which was represented as a conservative, low risk investment.

In currently pending FINRA Case 13-03547, a customer while Ohlhaber was employed by Southwest Securities,  alleges damages of $450,000 for misrepresentation with respect to the tax consequences of the surrender of a variable annuity.

In 2014, FINRA permanently barred Ohlhaber from the securities industry in connection with his sale of life settlement contracts.

According to FINRA records Ohlhaber was registered with FSC Securities from 8/2012-11/2012. Prior to that he was registered with Southwest Securities from 5/2008-4/2012.

If you have questions about an account handled  by Richard Ohlhaber, 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

Craig R. Wirth Discloses Discharge From SWS Financial

Addison, Texas

According to FINRA records Craig R. Wirth ,   a stockbroker who currently works for Cambridge Investment Research.   discloses  an Employment Separation After Allegation event.

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.

Wirth’s FINRA record indicates that in May 2015 he was discharged by SWS Financial Services (now known as Hilltop Securities) where he had been employed since 1997. Allegations listed on his FINRA record:

“Registered representative accepted a blank signed form to accommodate a client’s request in violation of the firm’s written supervisory procedures.”

Wirth has been employed by Cambridge Investment Research since July 2015.

If you have questions about an account handled by Craig R. Wirth, 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

Hilltop Securities Named in 46 Regulatory Events/22 Customer Arbitrations

April 11, 2016-Dallas, Texas

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.

FINRA records are public and can be accessed on the BrokerCheck website. 

The FINRA records of Hilltop Securities, disclose that the company has been named in 46 regulatory events including the following:

  • US Security and Exchange Commission case 3-17091, resolved in February 2016. A cease and desist injunction issued and a monetary fine of $360,000 assessed for violations of the antifraud provisions of federal securities laws and inadequate due diligence in certain offerings.

FINRA records also discloses 22 customer arbitrations against Hilltop Securities.

In January 2016, Hilltop Holdings merged its two broker-dealer subsidiaries First Southwest Company and Hilltop Securities (formerly Southwest Securities). The combined firm will operate as Hilltop Securities.

If you have losses in an account at Hilltop Securities 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

Jerry Lowrimore-Hilltop Securities- Named In Customer Arbitration-Dallas, TX

April 11, 2016-Dallas, Texas

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.

FINRA records are public and can be accessed on the BrokerCheck website. 

The FINRA records of Jerry G. Lowrimore, a stock broker who works for Hilltop  Securities (formerly Southwest Securities) , report that he is currently named in an arbitration claim filed by a customer.

FINRA Case 16-00272– customer alleges unsuitable recommendations and strategy with respect to concentrations and investments in precious metals equities, leveraged exchange traded notes, foreign mining companies and other stocks of precious metals companies. Damages of between $100,000 and $500,000 are alleged.

If you have losses in an account handled by Jerry Lowrimore, you may be able to recover damages from his employer.

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