Category Archives: Sanders Morris Harris

Grizelle Perez-Former Sanders Morris Harris Broker-Permanently Barred by Regulators- Houston, TX

November 2020- Houston, TX

According to publicly available records, former  financial advisor Grizelle E. Perez, who last worked for USCA Securities,  has been barred from the securities industry 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 January 2020 , in FINRA case 2019064437801. Perez was  permanently barred from the securities industry to resolve allegations that she failed to respond to FINRA request for information in connection with a regulatory investigation.

Perez had been employed by USCA Securities since March of 2018.   Before that time she was with Sanders Morris Harris and prior to that, USB Financial Services. 

If you have questions about an account handled by Grizelle Perez, call 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

Thomas Lykos, Jr.-Former Sanders Morris Harris Broker-Discloses Regulatory Event- Houston, TX

May 2020-Houston, TX

According to publicly available records Thomas J. Lykos, Jr.  a   stockbroker who was last employed by  Sanders Morris Harris  discloses a regulatory event and two outstanding judgment liens.

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.

According to FINRA case #2018059510201 Lykos was named a respondent in a FINRA complaint alleging that he engaged in unethical conduct while taking the Series 24 qualification examination for a third time. The complaint alleges “that during the exam, Lykos wrote on his hand and driver’s license while viewing examination questions. Lykos then took a nearly 30-minute unscheduled break, during which he left the testing center premises in violation of FINRA’s rules of conduct. After the break, Lykos attempted to bring a business card with handwritten notes on it into the examination testing room, but was thwarted by a testing center employee. Lykos then returned to the testing room and revisited several of the questions that he had been viewing while writing on his hand and driver’s license. Lykos changed his answers to two questions. Lykos engaged in such conduct after acknowledging and agreeing to follow FINRA’s rules of conduct applicable to qualification examinations, which, among other things, prohibit leaving the testing center during any breaks, prohibit the removal of any test center material through any means, prohibit the capturing of examination content, and prohibit seeking assistance in answering examination questions.”

According to the FINRA regulator Lykos tried to conceal his misconduct from exam proctors by licking and rubbing his driver’s license to smear the writing and by obstructing their investigation.

Lykos was employed with Sanders Morris Harris from February 2018 until May 2019.   Before that time he was with Commerce Street Capital.  

If you had an account with Thomas Lykos, Jr. 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

Ronald A. Frumkes-Former Wunderlich Securities Broker-Discloses Settlement of Customer Suits

April 2019- New York

According to FINRA records,  Ronald A. Frumkes,  a stockbroker  who is not currently registered with any firm and  who last worked  for Wunderlich Securities ,  discloses  three 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 FINRA Case 15-02974, a customer of Wunderlich Securities alleged damages of $600,000 for gross negligence,  breach of fiduciary duty, and unsound advice leading to losses in the account from 5/29/2014-10/2014. In 11/2016, that case was settled for $40,000.

Frumkes was employed at Wunderlich Securities  from  12/2012 – 9/2018. Prior to that he worked for Sanders Morris Harris Inc.

If you have questions about an account handled  by Ronald A. Frumkes , call for a no charge consultation.

Wunderlich Securities is Now B. Riley Wealth Management

In June 2018, Wunderlich Securities was rebranded and is now know as B. Riley Wealth Management.

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

Humbert B. Powell-Wunderlich Securities Broker-Discloses Customer Dispute-NY

New York

According to FINRA records,  Humbert B. Powell, III ,  a stockbroker  who works for Wunderlich Securities ,  discloses  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 FINRA Case 15-02974, a customer alleges damages of $600,000 for gross negligence and  breach of fiduciary duty as supervisor. The time frame is 5/29/2014-10/2014.

Powell has employed at Wunderlich Securities  since 12/2012. Prior to that he worked for Sanders Morris Harris Inc.

If you have questions about an account handled  by Humbert B. Powell  , 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