Tag Archives: Southcross Energy Partners

RBC Capital Ordered to Pay $723K For Sale of MLPs to Senior Citizen-Tampa, FL

November 2017-Tampa, FL

A FINRA arbitration panel comprised by an all public panel of three arbitrators, ordered RBC Capital Markets and broker Bruce Cameron of Norwell, Massachusetts,  to pay a former client, an elderly lady, $723,000 for losses suffered in an over concentration of oil and gas master limited partnerships (MLPs), which included:

  • Breitburn Energy Partners
  • Enable Midstream Partners
  • Enterprise Products
  • Ferrellgas Partners
  • Gramercy Property Trust, 
  • JP Energy Energy Partners
  • Mid Con Energy Partners
  • Southcross Energy Partners
  • Summit Midstream Partners
  • Tallgrass Energy Partners
  • CrossAmerica Partners
  • Enlink Midstream Partners

The panel found RBC and Cameron liable on the claims of negligence, negligent supervision and breach of fiduciary duty. FINRA Case #17-0305, Nourie, et al v RBC Capital Markets

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. When a customer seeks to recover damages for losses incurred in a stock brokerage account, cases are typically filed as arbitrations with FINRA dispute resolution. Arbitration is generally must quicker and more efficient than court litigation. Cases are often resolved in 12 months or so.

Brokers have a duty to make suitable recommendations to customers, taking into account their age, health, net worth and risk tolerance.

If you have losses in your account that you believe are the result of the negligence or improper advice of a broker, call to learn about how you may be able to recover damages through FINRA arbitration.

The Law Office of Robert H. Rex, P.C.  , 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

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

How to Recover Losses on Energy Related Master Limited Partnerships

May 2016

Investor Claims for Losses on Master Limited Partnerships-

Energy Related Investments

Rex Securities Law is investigating claims for investors who suffered significant losses as a result of investing in master limited partnerships (MLPs) in energy related investments.

MLPs are limited partnerships that are traded on a stock exchange or in some cases a publicly traded limited liability company (LLC) that has elected to be taxed as a partnership. Prior to the recent crash in oil prices, many financial advisors recommended that retirees seeking dependable fixed income invest in MLPs in order to generate cash flow.

The drop in price of oil from over $110 to the mid-$20’s has resulted in huge losses for many of these MLP’s, In addition to the losses, there are often significant adverse tax effects facing investors, many of whom were unaware of such potential risk.

Here is a partial listing of MLPs that were sold over recent years:

  • American Midstream Partners
  • Antero Midstream Partners
  • Arc Logistics Partners
  • Atlas Resource Partners
  • Azure Midstream Partners
  • Cone Midstream Partners
  • Columbia Pipeline Partners
  • Delek Logistics
  • Enable Midstream Partners
  • EQT Midstream Partners
  • JP Energy Partners
  • Midcoast Energy Partners
  • MPLX
  • New Source Energy Partners
  • Niska Gas Storage
  • NGL Energy Partners
  • PBF Logistics
  • Phillips 66 Partners
  • Rice Midstream Partners
  • Rose Rock Midstream Partners
  • Shell Midstream Partners
  • Summit Midstream Partners
  • Southcross Energy Partners
  • Sprague Resources
  • Tallgrass Energy Partners
  • Tesoro Logistics Partners
  • Western Refining Logistics
  • World Point Terminals
  • Williams Partners
  • Valero Energy Partners
  • VTTI Energy Partners

Brokers are required to make recommendations that are suitable given the investor’s age, health, level of financial sophistication, tolerance for risk and investment objectives. FINRA arbitration affords investors the opportunity to recover damages from a brokerage firm that permits or encourages its brokers to make unsuitable recommendations.

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