Stacy Goldsmith-Herbert J. Sims & Co. Broker-Subject of Customer Complaints Over Private Placements-Iselin, NJ

Stacy Goldsmith-Herbert J. Sims & Co. Broker-Subject of Customer Complaints Over Private Placements-Iselin, NJ

Stacy Goldsmith-Herbert J. Sims & Co. Broker-Subject of Customer Complaints Over Private Placements-Iselin, NJ 150 150 ER

Stacy Mari Goldsmith Investigation

February 2024– Iselin, NJ

According to publicly available records Stacy Mari Goldsmith, a Herbert J. Sims & Co., Inc. broker discloses 3 pending customer disputes and 2 settled customer complaints.

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.

InFINRA case #22-002340 , a Herbert J. Sims & Co., Inc. customer, alleged  that in 10/2014 and 12/2015 Goldsmith recommended an unsuitable investment in a private placement.   The casewas settled for $7,500.

In FINRA case #22-00802, a Herbert J. Sims & Co., Inc. customer, alleges  that Goldsmith recommended an unsuitable investment in a private placement and is seeking  damages of $95,000.   The case is currently pending.

In FINRA case #22-00749, another  Herbert J. Sims & Co., Inc. customer, alleges unsuitable investments in a private placement and is seeking  damages of $300,000.   The case is pending.

In recently filed FINRA Case 23-3458 another Herbert J. Sims customer alleges that they were sold private placements that “were not in the best interest of the customer” and is seeking $150,000.

See this for more information on REITs and Other Alternative Investments

Goldsmith has been employed with Herbert J. Sims & Co., Inc. since 2/2012.

Private Placements under Reg D: What is a Private Placement? According to the U.S. Securities and Exchange Commission (SEC):

Under the federal securities laws, a company may not offer or sell securities unless the offering has been registered with the SEC or an exemption from registration is available.  Offerings exempt from the SEC’s registration requirements pursuant to Securities Act Section 4(a)(2) or its safe harbor under Regulation D of the Securities Act are often referred to as private placements.” 

The SEC warns that unregistered offerings may be utilized to conduct investment scams and that investors should have the ability to weather a total loss in these illiquid investments. See this SEC Investor Alert about red flags to watch out for in unregistered offerings.

If you have losses in an account handled by Stacy Mari Goldsmith , contact us for a no charge consultation  to learn how you may be able to recover damages through FINRA arbitration.

Firms Have a Duty to Supervise their Financial Advisors (FINRA Rules 3110 & 2090)

Brokers and their firms have a duty to comply with the FINRA suitability rule which requires that they have a reasonable basis to believe that a recommendation is suitable for the customer.

FINRA Rule 2111- suitability

Investigations of Herbert J. Sims Brokers

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

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Florida-561 391 1900 

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