Category Archives: Inc.

John J. Avey Discloses Termination from BOSC, Inc-Greenwood Village, CO

Greenwood Village, Colorado

According to FINRA records, John J. Avey a broker who has been  registered  with First Financial Equity , since  1/2016  , discloses a termination and 2 prior customer disputes that are final.

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 to joining First Financial Equity Corp. , Avey  was registered with BOSC from 5/2004-1/2016. In connection with his discharge  from BOSC in 1/2016, BOSC made the following allegations:

“when asked, representative admitted to knowingly submitting forms for processing with a signature for (name of customer redacted) which were not in fact signed by (name of customer redacted)”

If you have losses in an account handled by John J. Avey   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

Stephens Inc. Sanctioned by Securities Regulators for Mutual Fund Sales Charge Abuse

October 27, 2015

Stephens, Inc.  entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that since June 1, 2009, Stephens disadvantaged certain retirement plans and charitable organization customers that were eligible to purchase Class A shares in certain mutual funds without a front-end sales charge. Those customers were instead sold Class A shares with a front-end sales charge or Class B or C shares with back-end sales charges and higher ongoing fees and expenses.

 

FINRA found that during this period, Stephens failed to establish and maintain a supervisory system and procedures reasonably designed to ensure that eligible customers who purchased mutual fund shares received the benefit of applicable sales charge waivers. As a result, Stephens violated NASD Conduct Rule 3010 (for misconduct before December 1,2014), FINRA Rule 3 110 (for misconduct on or after December 1,2014), and FINRA Rule 2010.

AWC No.  2015046029901

Stephens was censured and required to provide a detailed plan to remediate affected customers.

Stephens, Inc., is headquartered in Little Rock, Arkansas, and  has been a FINRA member since 1950. It has more than 430 registered agents and over 25 branch offices, including Texas offices in  Austin, , Dallas, & Houston and Florida offices in St. Petersburg.

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