Category Archives: Westminster Financial Securities

Jill Cody (Tramontano)-Former Concorde Investment Services Broker-Barred From Securities Industry-Spring Lake, NJ

According to publicly available records Jill M. Cody , (CRD# 4333419) ,  a  former stockbroker who last worked for Concorde Investment Services  , has numerous disclosures: 

  • 1 prior regulatory events
  • 7 currently pending customer disputes
  • 1 currently pending regulatory investigation

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 2/2017 Jill Cody (aka Jill Tramontano)  was permanently barred from the securities industry by FINRA to resolve allegations that she permitted Richard Cody, to whom she was then married, and who had been suspended by FINRA to engage in the securities business while suspended.

Currently pending customer disputes include:

  • 3/2017-A customer of Westminster Financial Securities & Concorde Investments  seeks damages in an unstated amount and alleges that funds were taken by Cody.
  • 3/2017-A customer of Merrill Lynch, Park Avenue Securities, Columbia Management, Westminster Financial Securities and Concorde Investment Services seeks damages in an unstated amount and alleges that Cody misappropriated funds and forged documents.

For information on Jill Cody’s former husband, Richard Cody, follow this link. Cody discloses a business affiliation with Boston Investment Partners.

We are interested in speaking with former customers of Jill Cody (aka Jill Tramontano ) and Richard G. Cody. 

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 G. Cody-Former Concorde Investment Services Broker-Charged With Fraud by SEC-Spring Lake, NJ

UPDATED JUNE 2017- Spring Lake, New Jersey

According to publicly available records Richard G. Cody , (CRD# 2794558) ,  a  currently unregistered stockbroker who last worked for IFS Securities  , has numerous disclosures: 

  • 2 pending and 1 prior regulatory events
  • 1 civil lawsuit
  • 13 currently pending customer disputes
  • 3 prior customer disputes
  • 2 currently pending regulatory investigations
  • 1 termination from employment
  • 1 outstanding judgment/lien

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 December 2016 the SEC instituted litigation charging Cody with defrauding his retired clients by concealing the fact that their retirement accounts had suffered extensive losses and that the monthly payments they were receiving were exhausting their retirement savings. The SEC alleges that Cody concealed their substantial losses by making materially misleading statements, leading the clients to believe that their investments were maintaining steady value and that their monthly withdrawals were being financed by investment gains.

Currently pending customer disputes include:

  • 4/2017-A customer of Westminster Financial Securities seeks damages of $164,358 and alleges that Cody misrepresented account balances.
  • 3/2017-A customer of Concorde Investment Services seeks damages of $150,000 and alleges that Cody misappropriated funds and forged documents.
  • 3/2017-A customer of Concorde Investment Services seeks damages of $25,000 and alleges that Cody misappropriated funds and forged documents.

Richard G. Cody‘s employment in the securities industry includes IFS Securities, Concorde Investment Services and Westminster Financial Securities.

In September 2016 Cody was discharged by IFS Securities who alleged that Cody was “selling away” from the firm and had forged documents.

For information on Richard Cody’s ex-wife Jill Cody (Tramontano) who has been barred from the securities industry and who faces a number of customer suits, follow this link.

We are interested in speaking with former customers of Richard G. Cody and Jill Cody (Tramontano). 

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

Ex-Westminster Financial Securities Broker Scottie Chitwood Barred for Misrepresenting Annuities

Estill Springs, Tennessee

The Financial Industry Regulatory Authority (FINRA) is the largest independent regulator for all securities firms doing business in the United States. FINRA’s chief role is to protect investors by maintaining the fairness of the U.S. capital markets.

All stockbrokers and broker dealers (brokerage firms) are required to be licensed by and subject to the rules and regulations of FINRA. Each month FINRA publishes disciplinary actions against brokers and broker dealers. Discipline can range from monetary fines and suspensions, or in extreme cases, revocation of licensing and a bar from the securities industry.

See the FINRA website for current and historical disciplinary actions.

July 2013
Scottie Brent Chitwood (CRD #4469472, Registered Representative, Estill Springs, Tennessee) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Chitwood consented to the described sanction and to the entry of findings that in connection with recommendations to purchase variable annuities, he inaccurately represented to customers that the principal of their investments would be protected from loss. Chitwood’s statements led these customers to believe incorrectly that their principal was protected from loss. Chitwood also failed to adequately disclose the surrender
fees associated with the variable annuities he sold. The findings stated that Chitwood improperly exercised discretion in customers’ accounts and engaged in an unauthorized trade on a customer’s behalf. Chitwood did so by making mutual fund purchases without the customers’ prior authorization. The findings also stated that Chitwood made inaccurate investment-objective entries on new account documents for customers, thereby causing his firm to create and maintain inaccurate books and records.

(FINRA Case #2011027571901)

FINRA records indicate Chitwood was registered with Westminster Financial Securities from 4/2011-3/2013. Prior to that he was registered with Edward Jones.

If you have questions about investment losses or the way your brokerage account has been handled, please contact us to discuss your legal rights.

Rex Securities Law , located in Boca Raton, FL, 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.

Rex Securities Law

561 391 1900