According to FINRA records, Brandt B. Wendland , a broker who was registered with Feltl & Company from 3/2004-2/2017 and who is now employed by Advanced Advisor Group , disclose a customer dispute involving penny stocks and leveraged exchange traded funds (ETFs).
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 FINRA Case 14-2132, a customer alleges damages of $300,000 for unsuitable trading in penny stocks, leveraged exchange traded funds, margin and unauthorized trading. That case was settled in 6/2015 for $55,000.
Feltl & Co. Prior Regulatory Issues related to Penny Stocks and ETFs
Feltl & Co. was fined $1 million in 2014 for issues related to inadequacy of supervision in connection with the sale of penny stocks. See this for more.
That same year Feltl & Co. was fined $225,000 to resolve allegations that firm procedures related to the sale of ETFs were inadequate. See this for more.
If you have losses in an account handled by Brandt B. Wendland, 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.
Florida-561 391 1900