Category Archives: Spartan Capital Securities

Marc Reda-Spartan Capital Broker-Discloses Settlement of Numerous Customer Claims

May 2018

According to FINRA records,  Marc A. Reda , a broker who is currently employed by Spartan Capital Securities, discloses 10 prior customer disputes a prior regulatory event, 2 terminations from employment and a currently outstanding judgment/lien.

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 June 2017, without admitting or denying the findings, Marc Reda consented to a fine of $5,000 and a three month suspension. FINRA found that he exercised discretion in customer accounts without written authorization from the customers and that he failed to timely disclose on FINRA Form U4 a federal tax lien filed against him in the amount of $575,101.

The prior customer disputes include the following settlements:

  • IN 8/2017 a customer of PHX Financial was paid $45,000 to resolve allegations that Marc Reda charged excessive commissions and mismanaged the customer’s account.
  • FINRA Arbitration 16-1461-a customer of his prior employer PHX FInancial alleged breach of fiduciary duty and unsuitable recommendations, seeking damages of $100,000. That case was settled in 7/2016 for $26,000.
  • In 4/2016 a customer of PHX Financial alleged that Reda traded his account without authority and breach of fiduciary responsibility, seeking damages of over $500,000. That case was settled in 5/2016 for $85,000.
  • In 3/2016 a customer of his prior employer Phoenix Financial Services alleged that beginning in 11/2015 Reda failed to follow the customer’s instructions, made trades without authority and over concentrated investments causing damages of $500,000. That case was settled in 6/2016 for $112,500.
  • In 1/2016 a customer of Phoenix Financial Services alleged that Reda made unauthorized trades in her account causing damages of $400,000. That case was settled in 2/2016 for $120,000.

According to FINRA records, Reda  has been registered with Spartan Capital Securities  since 5/2016. Reda was registered with First Standard Financial from 2/2016-5/2016. Prior to that he was registered with PHX Financial from 10/2014-1/2016 and with Laidlaw & Company from 11/2013-10/2014.

In 1/2016 Marc Reda was “permitted to resign” from PHX Financial for alleged  violations of firm policy.

FINRA records disclose an Internal Revenue Service lien filed in the Supreme Court of Richmond County, New York,  against Reda in the amount of $575,101.

If you have losses in an account handled by Marc A. Reda contact us 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

Mack L. Miller-Former Dawson James Securities Broker-Discloses Separation from Employment-NY

May 2017-New York

The FINRA records of  Mack L. Miller  ,  a  stockbroker who is currently  registered with Spartan Capital Securities  disclose two  prior customer disputes, a separation from employment and 2 currently 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.

In April 2017 Mack Miller was ‘permitted to resign’ from Dawson James Securities. The company made the following allegation on Miller’s FINRA record: “Rep had called a prospective customer in a state where he was not registered”. 

Mack Miller  has been employed by Spartan Capital Securities  since 4/2017. He was employed by Dawson James Securities  from 5/2016-4/2017 , Lampert Capital Markets from 11/2015-5/2016 and Viewtrade Securities 8/2015-11/2015.

If you have questions about an account  handled by Mack L. Miller  , 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

Tyre F. Newsome-Former Cape Securities Broker-Discloses Termination and Outstanding IRS Lien-New York

July 2017-New York

According to publicly available records Tyre F. Newsome , (CRD# 4812894) ,  a   stockbroker who is  currently registered with Windsor Street Capital , disclose  a prior customer dispute, an outstanding judgment lien 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.

Public records reveal that in April 2016, Tyre Newsome was ‘permitted to resign’ by his employer Garden State Securities who alleged that Newsome made unsuitable recommendation to a senior investor and made an inappropriate recommendation to utilize margin.

Newsome discloses that there is an outstanding judgement or lien against him for $32,094 in favor of the Internal Revenue Service.

Newsome  is currently employed by Windsor Street Capital. His prior employment includes:

  • Cape Securities                            6/2016-3/2017
  • Spartan Capital Securities    4/2016-5/2016
  • Garden State Securities          7/2015-4/2016
  • Meyers Associates                      9/2013-5/2015
  • Aegis Capital                                    7/2013-8/2013
  • Maxim Group                                  3/2013-6/2013
  • Caldwell International Securities         7/2010-7/2011
  • Meyers Associates
  • Maximum Financial Investment Group
  • Avalon Partners
  • Great Eastern Securities

If you have losses  in an account handled by Tyre Newsome, 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

Joseph M. Thurnherr-Former First Standard Financial Broker-Discloses Pending Customer Disputes

UPDATE MARCH 2018-Joseph M. Thurnherr is now employed by Spartan Capital Securities and has another customer dispute disclosed on his BrokerCheck report. See this for details. 

Meyers Associates is now  Windsor Street Capital

In 2016 Meyers Associates changed its name to Windsor Street Capital. While called Meyers Associates the firm gained a reputation for hiring brokers whose FINRA BrokerCheck reports had an inordinate number of disclosures. The Investment News reported in 2014 that Meyers Associates “stands out as a haven for registered representatives with black marks on their employment histories”. 

Original Post–August 2016- New York

The FINRA records of  Joseph M. Thurnherr,  a  stock broker who is currently employed by Meyers Associates  disclose  two pending customer disputes and 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#16-01460, a customer of Thurnherr’s prior employer First Standard Financial Company alleges damages of $93,624 alleging that his account was unsuitably invested and over concentrated.

In FINRA Case#1-01143, a customer of Thurnherr’s prior employer Legend Securities alleges damages of $536,180 alleging churning, excessive trading, suitability, unauthorized trading, negligence, breach of fiduciary duty and misrepresentation.

 

Thurnherr has been registered with Meyers Associates since 11/2015.  He was registered with First Standard Financial Company from 10/2014-10/2015, National Securities Corp from 11//2012-10/2014 and with Legend Securities from 1/2011-1/2012.

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