July 10, 2015-Dallas, TX
Joseph C. Schroeder entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he:
- violated NASD Rule 3040 and FINRA Rule 2010 by participating in undisclosed securities transactions
- violated FINRA Rules 3240 and 2010 by borrowing money from a client in contravention of his firm’s policies
- exercised discretion over a client account without written authorization (traded without authority)
According to the Order, Schroeder sold $300,000 worth of convertible promissory notes in Titan Energy to firm customers without obtaining permission from his firm. From October 2008-August 2013, Schroeder exercised discretion in the customer’s account without receiving prior written discretionary authority.
Schroeder was fined $20,000 and suspended for 12 months. According to FINRA records, Schroeder was registered with Wunderlich Securities in Plano, Texas, from 8/2008-8/2013. Prior to that he was registered with Riverstone Wealth Management in Dallas, Texas.
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.
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