Category Archives: Mutual Funds

Joeann Walker-Former LPL Financial Broker-Sanctioned Over Annuity Sales-Brockton, MA

December 2017-Brockton, MA

According to FINRA  records Joeann M. Walker, (CRD# 2210194) ,  a   stockbroker who formerly worked for NEXT Financial Group and LPL FInancial  was barred from the securities industry for failing to cooperate with a 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.

According to FINRA Letter of Acceptance Waiver and Consent #2016049354501 , FINRA requested financial records and other documents from Walker in connection with an inquiry into the unsuitable sales of variable annuities to one of Walker’s clients. While Walker did provide some documents to FINRA , and  acknowledged that her response was incomplete, she refused to cooperate fully, resulting in a bar from the securities industry.

In 11/2016 a customer of NEXT Financial Group and LPL Financial alleged unauthorized sales of stocks, unauthorized and unsuitable purchases of variable annuities and unauthorized mutual fund switches. That matter was settled for $175,000, with Walker contributing $50,000 toward the settlement.

 

 

Walker was employed by LPL Financial from 8/2006-4/2015 and by NEXT Financial Group from 4/2015-11/2017.

If you have questions about an account handled by Joeann M. Walker, contact us to discuss your 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Sherry Elaine McNair-1st Global Capital Broker-Discloses Customer Dispute-Lubbock, TX

June 2017- Lubbock, Texas

According to publicly available records Sherry Elaine McNair  (CRD#2068968) ,  a  stockbroker who currently is employed by 1st Global Capital Corp.  discloses a pending customer dispute.

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 FINRA arbitration 15-03688, a customer of 1st Global Capital Corp. seeks damages of $250,000 and alleges an unsuitable investment in mutual funds.

McNair has been employed by 1st Global Capital since 8/2007 and also discloses a business affiliation with West Texas Wealthcare Advisors.

If you have questions about an account handled by Sherry Elaine McNair , contact us to discuss your 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Jarred M Lawson – Former Merrill Lynch Broker-Discloses Termination and Suspension-Jacksonville, FL

June 2017 – Jacksonville, FL

The FINRA records of Jarred M. Lawson,  a  stockbroker who is currently not registered disclose a final regulatory event and a termination.

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 March of 2017, agreed to a one year suspension and a $10,000 fine to resolve FINRA allegations that   he made negligent misrepresentations or omissions during telephone calls with customers regarding the sale of mutual funds. Lawson  is suspended in all capacities from April 3, 2017 to April 2, 2018.

In January of 2016, Lawson was discharged from Merrill Lynch who made the following allegation in connection therewith: “conduct involving failure to make disclosures related to mutual fund transactions”.

 Lawson was employed by Merrill Lynch from 11/2012-2/2016 and with Edward Jones from 8/2012-11/2012.

If you have questions about an account  handled by Jarred M. Lawson 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

Hemant Kathuria-Euro Pacific Capital Broker-Discloses Customer Arbitration Over Private Placement Investments-El Segundo, CA

May 2017- El Segundo, CA

The FINRA records of  Hemant Kathuria ,  a  stockbroker who is currently employed by  Euro Pacific Capital disclose 1 pending customer dispute and 3 prior final customer disputes.

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 currently pending FINRA arbitration 16-2859 a customer of Euro Pacific Capital alleges damages of $791,608 for negligence, suitability, intentional misrepresentations and omissions; fraud, control person liability, breach of fiduciary duty, failure to supervise, violations of the California Securities Act, and other claims between 1/2010-6/2014. The investment products complained of include mutual funds, oil and gas investments , promissory notes and private placements.

 

Hemant Kathuria has been employed by Euro Pacific Capital since 8/2007.

If you have questions about an account  handled by Hemant Kathuria 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

Douglas W. Studer-Former Kovack Securities Broker-Barred by Securities Regulator-Ft. Lauderdale, FL

February 2017-Ft. Lauderdale, FL

According to publicly available records Douglas W. Studer , (CRD# 4440047) ,  a  former stockbroker who was last employed by Kovack Securities, disclose that he was permanently barred by FINRA from acting as a broker or otherwise associating with firms that sell securities to the public.

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 September 2016 , without admitting or denying the allegations, Studer consented to the entry of findings that he refused to appear before FINRA for on the record testimony in relation to an investigation into whether he had violated his employing member firm’s policy by being named in an elderly customer’s estate documents to inherit the customer’s waterfront condominium.

 

In November 2015, a customer of Studer’s prior employer, National Securities Corporation alleged damages in excess of $5,000 for unauthorized trading in mutual funds. That matter was settled for $60,010.

Public records reveal that Studer filed and was discharged from Chapter 7 Bankruptcy in April 2010.

Prior to Kovack Securities, Studer was employed by National Securities and before that by Prime Capital Services.

If you have questions about an account in an account handled by Douglas W. Studer, 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Michael B. Inderlied-Former Wilbanks Securities Broker-Discloses Customer Disputes & Terminations

August  2016-Frisco, Texas

The FINRA records of Michael B. Inderlied ,  a  stock broker who is currently not licensed and who was last employed by Adirondack Trading Group   disclose  a prior regulatory event, 2 prior customer disputes and 2 terminations from employment.

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 November 2015, Missouri securities regulators sanctioned Inderlied and assessed him a fine of $20,000, required him to pay restitution of $17,500.

The two prior customer disputes were both resolved by monetary settlements paid to the customers.

In December 2015, Inderlied was ‘permitted to resign’ from Adirondack Trading Group following the censure by the  State of Missouri.

In January 2014, Inderlied was ‘permitted to resign’ from WIlbanks Securities who made the following allegations on FINRA records: “Rep was permitted to resign while under heightened supervision and investigation for improper recommendations to clients concerning variable annuities. The investigation revealed that rep encouraged clients to prematurely surrender variable annuities early in the surrender period for A-shares in various mutual fund shares to significant client harm. The firm followed up with every client and fully disclosed all compensation to them and all clients decided, in writing, for their investments to stand”.

Inderlied was employed by Adirondack Trading Group from 4/2015-12/2015. Prior to that he was with Investors Capital Corp. in Frisco, Texas, from 1/2014-3/2015, and before that with Wilbanks Securities from 6/2009-2/2014.

INVESTORS CAPITAL CORP. SUBJECT OF 21 REGULATORY MATTERS–CEASES OPERATIONS FALL 2016

Investors Capital Corp. withdrew its registration with FINRA in fall 2016. Investors Capital has been named in 21 regulatory matters and a number of customer arbitrations. For more information on Investors Capital Corp, follow this link. 

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

George Sefanou-Edward Jones Broker-Discloses Settlement of Customer Dispute

August  2016-Orlando / The Villages, Florida

The FINRA records of George Sefanou ,  a  stock broker who is currently employed by Edward Jones  , disclose a recently settled customer dispute.

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 FINRA Case 15-0387, a customer of Edward Jones alleged that Stefanou’s recommendation to transfer their retirement accounts to Edward Jones was unsuitable in that the transfer caused tax consequences and penalties. They also alleged that Stefanou failed to calculate properly IRS Code Section 72T distributions and that a recommendation to purchase mutual funds was unsuitable due to high fees associated with the purchase. That case was recently settled for $50,000.

Stefanou has been employed by Edward Jones since 8/2009.

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