Category Archives: Failure to Supervise

Herbert Voss, Jr.-Former StockCross Broker-Discloses Numerous Customer Suits & Termination From Employment-Beverly Hills, CA

June 2018- Beverly Hills, CA

The FINRA records of Herbert Voss, Jr.  , a former stock broker who was last employed by StockCross Financial Services , disclose a regulatory event,  a pending customer dispute, 7 prior customer disputes,  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 May 2018 FINRA permanently barred Voss from the securities industry after he failed to appear before FINRA for on the record testimony concerning a customer complaint alleging that Voss had engaged in unauthorized trading in the customer’s account.

Prior settlements with customers include:

  • In 2/2017 a customer of StockCross Financial alleged that Voss made unsuitable investment recommendations. That case was settled for $900,000 in 12/2017.
  • In FINRA case 10-1389 a customer of his former employer UBS Financial alleged that Voss charged excessive commissions and made unauthorized trades. That case settled for $950,000.

In currently pending FINRA arbitration #17-03505 a customer of Stockcross Financial alleges poor performance, fiduciary breach and failure to supervise. The customer seeks damages of $550,000.

Voss  was employed by StockCross Financial   since 7/2009 until 5/2018 when he was discharged after a customer alleged unauthorized trading in options.

If you have questions about  an account handled by Herbert Voss, Jr. , 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Craig A. Sutherland-Money Concepts Broker-Subject of Numerous Customer Suits-Bellefontaine, OH

May 2018- Bellefontaine, OH

The FINRA records of Craig A. Sutherland  , a stock broker currently employed by Money Concepts Capital Corp , disclose 7 prior final customer disputes and 3 pending customer dispute. In addition Sutherland was recently fined and suspended by FINRA.

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 12/2017 FINRA fined Sutherland $5,000 and suspended him for 15 business days to resolve allegations that he utilized his personal email account for business related communications and sent emails that contained inaccurate, exaggerated, unwarranted or promissory representations pertaining to a security.

In FINRA arbitration 16-0870 , a customer  of Money Concepts sought damages of $300,000 and alleged that her account was over-concentrated in equities and that the investments were unsuitable and misrepresented to her. That case settled for $130,000.

In  FINRA Case #14-1489, a Money Concepts customer alleged damages of $500,000 claiming that investments in a John Hancock Annuity, American Realty Capital Healthcare REIT and Tanzanian Royalty Exploration Co. (TRX) were unsuitable investments. That case was settled for $135,000.

Three FINRA arbitrations are currently pending by Money Concepts customer. These customers seek damages which total more than $750,000 and allege unsuitable investments, failure to conduct due diligence and failure to supervise.

Sutherland  has been employed by Money Capital Concepts Corp.  since 5/1994. He discloses a business affiliation with Conceptual Solutions, Ltd. of Columbus, Ohio.

If you have losses in an account handled by Craig A. Sutherland , you may be able to collect damages from his employer. Call for a no charge consultation to learn more.

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

Brian Decker-Former Worden Capital Mgmt Broker-Barred From Securities Industry-New York

May 2018

FINRA records disclose that Brian K. Decker, a currently unregistered broker who last worked for Worden Capital Management and Legend Securities, is named in a currently pending customer dispute, has 10 prior customer disputes , a recent regulatory action barring him from the securities industry and 5 outstanding judgment/liens.

In currently pending FINRA Case 15-802, filed by a Florida resident,  a customer of Legend Securities alleges that Decker was not licensed to sell securities in Florida, made false statements of material fact, engaged in unauthorized transactions, failed to follow instructions, engaged in churning and stock manipulation and improperly used margin borrowing in the account. The customer is seeking damages of $150,000.

Brian Decker has been named in ten  other prior customer disputes, including:

  • A July 2015 settlement of $35,000 to a customer of Legend Securities alleging failure to supervise and unsuitable investments.
  • FINRA Case 14-2734, by a customer of Legend Securities  alleging violation of Colorado securities and consumer protection laws, negligence and common law fraud, settled for $14,999.
  • FINRA Case 12-1281, a customer of Legend Securities alleged breach of fiduciary duty, negligent supervision, and fraud settled for $75,000.

Decker was with Worden Capital Management from 4/2017-4/2018 and with Legend Securities 9/2009-11/2016.

In May 2018 Decker was permanently barred from the securities industry by FINRA to resolve allegations that he failed to cooperate with FINRA during an investigation into allegations of conversion. Decker failed to produce requested bank records and failed to appear to provide testimony. FINRA Case 2017055226501.  

If you have losses in an account handled by former   broker Brian Decker , 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Adam Goodman-Former H.J. Sims Broker-Has Several Customer Complaints-Boca Raton, FL

May 2018- Boca Raton, FL

The FINRA records of  Adam C. Goodman ,  a  registered stock broker who recently left Herbert J. Sims to join Stoever, Glass & Co.  disclose  a pending customer dispute and two prior final 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 12/2017 a customer of Herbert J. Sims was paid #21,000 to resolve allegations that Goodman recommended unsuitable corporate debt investments that resulted in losses.

In 3/2018 a customer of Herbert J. Sims was paid $50,000 to resolve allegations that Goodman made misrepresentations in connetion with an investment in junk bonds and that he traded the account without authorization.

In currently pending FINRA Case 18-01064, a customer of Herbert J. Sims alleges high pressure sales tactics, unsuitable investments, fraud and negligence and is seeking damages of $25,000.

Goodman was employed by Herbert J. Sims   from 8/2010-1/2018  when he left and joined Stoever Glass & Co. 

If you have losses in an account handled by Adam Goodman, call for a no charge consultation to learn about your options for recovery of damages.

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