May 2017 – Chicago, IL
According to publicly available records Louis Scherschel (CRD#5634741) , a stockbroker currently registered with St. Bernard Financial Services, Inc., discloses a customer dispute and an employment separation.
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 case #16-00222 was filed by a customer of Sigma Financial Corporation seeking damages of $500,000 and alleging inappropriately leveraged ETFs and failure to implement sell stops despite instructions to do so. The case was settled in 8/2016 for $295,000.
Scherschel was discharged by Sigma Financial Corporation in 9/2015 who made the following allegations in connection with the discharge: “failure to comply with firm’s correspondence policy.”
Scherschel had been employed with Sigma Financial Corporation from May of 2013 to September of 2015. He has since been employed with RBC Capital andProsperity Wealth Management, Inc.
If you have questions about an account in an account handled by Louis Scherschel , 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.
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