July 2021- Florham Park, NJ
According to publicly available records, Robert Delaplain a PHX Financial, Inc. financial advisor , discloses 2 regulatory events.
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 2020, after FINRA case #2016048921103 was filed, without admitting or denying the findings, Delaplain consented to the sanctions and to the entry of findings that Delaplain, failed to reasonably supervise registered representatives, who engaged in unsuitable excessive trading and unsuitable options trading in the accounts of customers, resulting in approximately $550,000 in customer losses and gross commissions of over $350,000. Sanctions were a six month suspension from FINRA and a $5,000 fine paid by Delaplain personally.
In 2014 Montana securities regulators fined Delaplain $5,000 to resolve allegations that he failed to supervise and provided substantial assistance to a salespersons fraudulent actions.
If you have losses in an account handled by Robert Delaplain, call to learn how you may be able to recover damages through FINRA arbitration.
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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