Category Archives: Riverstone Wealth Management

Former Wunderlich Securities Broker Sanctioned By Regulators-Plano

July 10, 2015-Dallas, TX

Joseph C. Schroeder entered into a Letter of Acceptance Waiver and Consent (AWC)  with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he:

  • violated NASD Rule 3040 and FINRA Rule 2010 by participating in undisclosed securities transactions
  • violated FINRA Rules 3240 and 2010 by borrowing money from a client in contravention of his firm’s policies
  • exercised discretion over a client account without written authorization (traded without authority)

According to the Order,  Schroeder sold $300,000 worth of convertible promissory notes in Titan Energy to firm customers without obtaining permission from his firm. From October 2008-August 2013, Schroeder exercised discretion in the customer’s account without receiving prior written discretionary authority.

Schroeder was fined $20,000 and suspended for 12 months. According to FINRA records, Schroeder was registered with Wunderlich Securities in Plano, Texas, from 8/2008-8/2013. Prior to that he was registered with Riverstone Wealth Management in Dallas, Texas.

Disciplinary Proceeding 2012031181001

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