April 2020- Corpus Christi, TX
The FINRA records of Richard Earl Cagle, a broker previously employed by Hilltop Securities Independent Network, Inc. , disclose a regulatory event resulting in his bar from the securities industry and two 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 July 2019, Cagle was permanently barred from the securities industry by the Securities and Exchange Commission after allegations that he refused to appear for on-the-record testimony as requested by FINRA in connection with an investigations that he violated FINRA rules by making unsuitable investment recommendations and mis-marking customer order tickets while associated with his former member firm.
In March 2019, a Hilltop Securities customer was paid $20,000 to resolve allegations that Cagle made unsuitable investment recommendations.
In October 2018, a customer of Hilltop Securities filed FINRA Case 18-3357 alleging unsuitable recommendations. That case was settled in 3/2019 for $230,000.
Cagle was employed with Hilltop Securities Independent Network, Inc.. from March of 1997 until March of 2019.
If you have questions about an account handled by Richard Cagle 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.
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