Category Archives: New Mexico Securities Div. Regulation & Licensing

Royce Simpson-Former Oppenheimer Broker-Discloses Pending Regulatory Matter

Houston, Texas

According to FINRA records Royce O. Simpson  formerly a stockbroker who most recently worked for Oppenheimer & Co.   discloses  two customer disputes that have been finalized,  a pending regulatory investigation and a regulatory investigation that has been finalized.

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.

Simpson’s FINRA record discloses that a FINRA investigation finalized in November 2015 resulted in an eight month suspension and a fine of $15,000 to resolve allegations that Simpson loaned money to a gold mining operation in Ghana, Africa, after his firm had denied his request to participate in the outside business activity.

In addition, FINRA found that Simpson failed to timely respond to requests for information and documents in connection with an investigation into Simpson’s relationship with certain officials of Bernalilllo County, New Mexico. FINRA Case#2013039492903.

Simpson’s prior employment includes UBS Financial Services, J.C. Bradford & Co. , Everen Securities and PaineWebber.

The New Mexico Securities Division has instituted Case 13-03-0028 seeking  sanctions against Simpson for alleged unsuitable recommendations in long term U.S. agency bonds. That matter is still pending.

In a complaint brought by a customer of UBS Financial Services in 2011, a client alleged damages of $659,458 for overcharges for certain bond transactions. That matter was settled in 2011 for $659,458.

In another case brought in Contra Costa County, CA, in 1994, a Paine Webber customer alleged purchases of government securities exceeded maturity limitations imposed by California law. That claim was settled for $1,177,000.

If you have questions about an account handled by Royce O. Simpson, call for a no charge consultation.

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

New Mexico Securities Regulator Provides Warnings to Ruidoso Citizens

February 12, 2015- Ruidoso, New Mexico

The Ruidoso News reports that Christopher Young, a special agent of the New Mexico Regulation and Licensing Securities Division recently spoke to local residents warning them about how to protect themselves against affinity fraud and other financial scams.

The New Mexico Regulation and Licensing Securities Division is tasked with licensing stock brokers and investment advisers whose business is to assist and advise investors; reviewing and approving investment opportunities before issuers raise capital to insure compliance with the law; discovering, stopping, and prosecuting those who violate the laws governing investment capital, or who commit fraud; and educating New Mexicans about the proper ways of raising investment capital and about the risks associated with investments.

Young warned local residents to be wary of con artists who target religious, ethnic, cultural, military and professional groups to gain their trust and then steal the life savings of the victims. This is called “affinity fraud” and very popular way for scam artists to gain access to the nest eggs of retirees.

A list of common fraud schemes can be found at this FBI website.

If you have questions about losses in your brokerage account, call for a no obligation consultation with an experienced securities attorney.

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