Category Archives: Margin

Regan A. Rohl-Wells Fargo Broker-Subject of Numerous Customer Suits-Fargo, N. Dakota

June 2018- Fargo, N. Dakota

The FINRA records of Regan A. Rohl  , a stock broker who is employed by Wells Fargo Advisors Financial Network , disclose  7 pending customer disputes and 5 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.

The  FINRA arbitrations that are currently pending include:

  • FINRA Case 18-562 in which a customer of Wells Fargo alleges that Rohl made unsuitable investments in direct investments and limited partnerships. The customer is seeking damages of $1.2 million.
  • FINRA Case 17-1013 in which a customer of Wells Fargo and his former employer Morgan Stanley alleges that Rohl misrepresented the risks associated with concentrated investments in energy stocks. The customer is seeking damages of $85,000.
  • FINRA Case 17-1914 in which a customer of Wells Fargo alleges that Rohl made unsuitable recommendations to invest in limited partnerships and direct investments and is seeking damages of $150,000.
  • FINRA Case 17-1577-a Wells Fargo customer alleges that between 4/2011 and 12/2016 Rohl made unsuitable recommendations to buy and concentrate their portfolio of four accounts into oil and gas sector master limited partnerships and closed end funds. They also allege that Rohl recommended they utilize a line of credit secured by their Wells Fargo account to refinance existing loands and that they paid exorbitant interest as a result. Damages of $1.5 million are being sought.
  • FINRA Case 17-782 in which a Wells Fargo client alleges that Rohl purchased unsuitable master limited partnership in their accounts between 2011-2015 and that they were moved into a discretionary trading account without authority. Damages of $250,000 are sought.

Regan Rohl   has been employed by Wells Fargo since 3/2011 and has a business affiliation with Rohl Arabians, a company that raises Arabian horses.

Brokers have a duty to make recommendations that are suitable, taking into account the age, health, level of financial sophistication, risk tolerance and investment objectives of the customer.

If you have questions about  an account handled by Regan Rohl, call for a no charge consultation 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Jeffrey R. Wilson-Wells Fargo Broker-Customer Wins Arbitration Over Energy Investments-Las Cruces, NM

January 2018-Las Cruces, NM

The FINRA records of  Jeffrey Randolph Wilson  ,  a  stockbroker who is currently  registered with Wells Fargo Clearing Services disclose a currently pending customer dispute over energy investments , a recent arbitration award to a customer  and 2 other 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 March 2017, following a three day hearing,  a FINRA arbitration panel ordered Wilson’s employer, Wells Fargo to pay  a former customer of $357,000, plus 8.75% interest, for damages related to investments in energy and housing investments and the use of a margin line of credit. Pryor vs. Wells Fargo Advisors, Case #16-01123. 

In December 2016, Wells Fargo paid another Wilson customer $250,000 to settle allegations that direct investments purchased in 2014-2015 were unsuitable.

In October 2016, Wells Fargo paid a Wilson customer $275,000 to resolve allegations that the account had been excessively traded in unsuitable and risky investments.

Wilson   has been employed by Wells Fargo since 5/2014. Prior to that he was employed by Morgan Stanley.

If you have questions about an account  handled by Jeffrey R. Wilson , contact us to discuss your options.

Alternative investments include non publicly traded real estate investment trusts (REITS) , equipment leasing, oil and gas, hedge funds, real estate, commodities and derivatives contracts and, managed futures.  These investments tend to be complex, illiquid, nontransparent, hard to value and expensive. Many of the alternative investments sold over recent years are not traded on any public market making them difficult to value and even more difficult to liquidate if cash is needed.

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

Northeast Securities Ordered to Pay Former Customer $1.8 Million-Mitchelfield, NY

July 2017-New York

An arbitration panel of the Financial Industry Regulatory Authority (FINRA) ordered Northeast Securities, Inc. a broker dealer headquartered in  Mitchelfield , NY, and three of their brokers to pay a former customer nearly $1.8 million dollars in a case involving investments in corporate bonds. The customer alleged common law fraud, churning, breach of fiduciary duty, misrepresentation, failure to supervise, improper use of margin borrowing and other claims.

The all public FINRA arbitration panel assessed the award jointly and severally against Northeast Securities and brokers Stephen J. Perrone, Diane Hawkins and Jonathan M. Zucker. In addition the panel awarded interest of 9% on the award from March 2012 until the award is paid and expert witness fees of nearly $34,000. McLaughlin v Northeast Securities, et al, FINRA Case 16-1806.

If you have suffered losses in your brokerage account due to the fraud or negligence of your stockbroker, we may be able to help you recover damages through FINRA arbitration, a process that is generally much quicker and less costly than court litigation.

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

Steven J Shmulewitz-Former Woodstock Financial Group Broker-Discloses Numerous Customer Disputes-Garden City, NY

May 2017-Garden City, NY

The FINRA records of  Steven J Shmulewitz  ,  a  stockbroker who is currently  registered with Craft Capital Management disclose  10 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.

The prior customer disputes include:

  • In 12/2016 a customer of Craft Capital Management was paid $30,000 to resolve allegations that Shmulewitz failed to enter stop loss orders in October 2016.
  • In 6/2016 a customer of Woodstock Financial was paid $52,800 to resolve allegations that Shmulewitz used margin borrowing without authority from 2011-March 2014.
  • In 1/2016 a customer of Woodstock Financial was paid $125,000 to resolve allegations that Shmulewitz made unsuitable investments, churned the account, committed fraud and other claims.

Steven J Shmulewitz  has been employed by Craft Capital Management since 5/2015. He was employed by Woodstock Financial Group  from 2/1999-12/2014.

If you have questions about an account  handled by Steven J Shmulewitz , contact us 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