According to FINRA records, Richard J. Reynolds , a broker who has been registered with Northland Securities since 9/2002 , discloses a pending customer dispute and a prior dispute that has 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.
In pending FINRA Case 14-2299, a customer alleges damages of $680,935 for violations of various Minnesota Acts and Practices; breach of contract; common law fraud; breach of fiduciary duty; negligence and other claims related to the recommendation of alternative investments including REITs, tenant in common investments (TICs) , limited partnerships and other direct investments.
Reynolds discloses an earlier case, NASD #3-7164, in which a customer alleged damages of $170,000 for breach of fiduciary duty, unsuitability and other claims related to the convertible subordinated notes of stockwalk.com. That case was settled for $110,000.
If you have losses in an account handled by Richard J. Reynolds, 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.
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