Category Archives: Failure to Supervise

Alternative Investments, Failure to Supervise, Private Placements, Raymond James, Stockbroker Malpractice, StockBroker Misconduct, Unsuitable Investments

John T. Howard-Raymond James Broker-Discloses $1.13 Million Award & Pending Customer Dispute-Birmingham, AL

February 2020- Birmingham, AL

The FINRA records of John Troy Howard (CRD#2264121)  , a broker with Raymond James & Associates, Inc. discloses a prior arbitration award and 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 March 2008 a customer of  Morgan, Keegan & Company, Howard’s previous employer, filed FINRA case #08-00667 alleging breach of contract, breach of fiduciary duty, breach of common law duties of care, good faith and best execution, breach of common law duty of not to engage in unauthorized transactions and negligence.  Damages awarded were $1,134,601.

In 9/2019 a  Raymond James & Associates, Inc. customer  filed FINRA case #19-02833 , alleging breach of fiduciary duty, negligence, breach of contract, violations of the Alabama Securities, and violations of the Securities and Exchange Act by Howard.   The customer seeks damages of $160,000.

Howard  has worked for Raymond James & Associates, Inc.  since 2/2013.    Before that he was with Morgan, Keegan & Company and  AmSouth Investment Services.    

If you have questions about an account handled by John Troy Howard  call for a no charge consultation with an experienced securities attorney .

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.

International Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Dempsey Lord Smith, Failure to Supervise, Kalos Capital, Stockbroker Malpractice, StockBroker Misconduct, Unsuitable Investments, Wachovia

Joseph Roop-Former Kalos Capital Broker-Discloses 6 Prior Customer Disputes & 1 Pending Customer Dispute-Belmont, NC

February- 2020 – Belmont, NC

The FINRA records of Joseph Patrick Roop,  a broker currently employed by  Dempsey Lord Smith,  disclose  6 prior customer disputes and 1 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 10/2018  a  customer of Kalos Capital, Inc.  was paid $90,000 to  resolve allegations of unsuitable investments and sale of securities by a rep that was not property registered in the State of Alabama.

Between 8/2010 and 1/2014, three Bank of America Investment Services customers were paid a total of $115,500 to resolve allegations including misrepresentation, omission of material facts,  excessive trading, unsuitable investments by Roop.

In 2/2009 and in 6/2009, two customers of Wachovia Securities were paid a total of $141,000 to resolve allegations that included unsuitable options trading.

In 5/2019 a Kalos Capital, Inc., client filed FINRA case #19-2019 alleging unsuitable investments in alternative investments and alleges damages of $450,000.  The case is pending.

Joseph Patrick Roop  has been employed with Dempsey Lord Smith since 7/2019.   Before that he was with Kalos Capital from 4/2009 until 7/2019.   He was previously with Wachovia Securities and bank of America Investment Services.    

If you have questions about an account  handled by Joseph Patrick Roop  call for a no charge consultation to learn more about 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.

International Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Alternative Investments, Annuities, Business Development Company (BDC), Failure to Supervise, FSC Securities Corporation, Misrepresentation, Stockbroker Discharged, Stockbroker Malpractice, Unsuitable Investments

Investigation of FSC Securities Brokers Lee Kramer & David Frank on Behalf of Local Deaf Customer-West Palm Beach, FL

February 2020- West Palm Beach, Florida/Frederick, Maryland

We are investigating FSC Securities Corporation financial advisors Lee R. Kramer and David A. Frank on behalf of a Palm Beach County, FL,  resident who is deaf.

According to our client,  Mr. Frank and Mr. Kramer made sales presentations, both in person, as well as via video presentations,  to her and  other members of the local deaf community resulting in the investment in various unsuitable investments, including annuity investments.

According to publicly available records, Lee R. Kramer discloses 7 prior regulatory events, one pending customer dispute and one prior customer dispute, and 2 terminations from employment.

Kramer’s regulatory issues include allegations by Massachusetts securities regulators that he was the subject of 7 disclosures alleging alteration of a variable annuity application, failure to provide notice of replacement of a variable annuity, failure to disclose consent orders to state regulators, possible signature irregularities and failure to report customer emails to his supervisor. Massachusetts R-2005-188.

In pending FINRA Case 19-2969, a customer of FSC Securities alleges that Kramer made unsuitable recommendations to invest in an annuity, a business development company and unsuitable stocks. The customer is seeking damages of $93,000.

IN 2005, Kramer was discharged by Securities America who allege that Kramer failed to disclose state insurance department consent orders.

In 2002, Kramer was ‘permitted to resign’ from Veravest Investments after an internal audit of over 800 customer files indicated that some customer files contained possible predictive statements, possible signature irregularities and two unreported emails from deaf customers.

Lee Kramer has been employed by FSC Securities since 3/2005.

According to publicly available records, David A. Frank has been employed by FSC Securities Corp. since 4/2005.

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.

If you have information that you think would be helpful to our investigation of FSC Securities Corp. financial advisors Lee Kramer and/or David Frank please contact our Boca Raton, FL, office at the number below.

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.

International Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Failure to Supervise, FInancial Exploitation of the Elderly, Finra Investigation of Stockbroker, Kovack Securities, Stockbroker Discharged, Stockbroker Malpractice, StockBroker Misconduct, Theft

Rita Marie Dulya-Former Kovac Securities Broker-Discloses Pending Criminal Charges- Theft Of a Person 65 or Older-Port St. Lucie, FL

February 2020- Port St. Lucie, FL

The FINRA records of Rita Marie Dulya  , a former stock broker who last worked for Kovack Securities, Inc. , disclose  a regulatory event resulting in a bar from the securities industry, a pending felony criminal charge and a termination 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  11/ 2018,  Dulya was permanently barred from the securities industry  for failing to respond to FINRA request for information in connection with an investigation.

In February 2018, felony charges of third-degree grand theft of a person 65 years of age or older were brought against Dulya in Circuit Court for the 19th Judicial Circuit of the State of Florida, Port St. Lucie County.   Formal charges include exploitation of an elderly or disabled adult- less than $10,000.   This case is currently pending.

In October 2017 Kovack Securities, Inc. terminated Dulya’s employment as a result of allegations that a “client gave money to registered representative”.

Dulya worked for Kovack Securities, Inc.  from November of 2002  to October of 2017.   She was with Pro-Integrity Securities and Sunpoint Securities before that time.

Dulya discloses and affiliation with Port St. Lucie Investment Services.   

If you have problems in an account  handled by Rita Marie Dulya  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.

International Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Churning, Failure to Supervise, Finra Investigation of Stockbroker, Stockbroker Malpractice, StockBroker Misconduct, Theft, Unauthorized Trading, Wells Fargo

Ramon Arturo Herrera-Former Wells Fargo Broker-Discloses Customer DIsputes Alleging Theft-Jersey City, NJ

February 2020-Jersey City, NJ

According to publicly available records of Ramon Arturo Herrera (CRD#6021170) ,  a  former stockbroker who last worked for Wells Fargo Clearing Services,  discloses 2 regulatory events and and 3 prior 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 10/2019 New Jersey securities regulators revoked Herrera’s registration  after FINRA  permanently barred him  from the securities industry in 7/2018 to resolve allegations that he failed to respond to FINRA request for information in connection with a regulatory investigation.

Herrera’s official FINRA record also discloses 3 prior customer disputes by Wells Fargo Advisors customers.      Allegations included unauthorized withdrawal from brokerage accounts and excessive trading.   The total settlements paid in these three cases was  over $215,000.

Herrera was employed by Wells Fargo  from 12/2009 until 1/2018.

If you had an account with Ramon Arturo Herrera that suffered losses, you may be entitled to collect damages from his prior employer. Call 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