Category Archives: WTS Proprietary Trading Group

Daniel T. Fischer-Former Four Points Capital Partners Broker-Barred From Securities Industry-Melville, NY

UPDATE FEBRUARY 2018-The SEC barred Daniel T. Fischer indefinitely from association with a broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or NRSRO.

ORIGINAL POST-January 2018-Melville, New York / Texas

Daniel T. Fischer , a currently unregistered stockbroker who last worked for Four Points Capital Partners, a Texas LLC, (Four Points) was named in a complaint filed by the Securities and Exchange Commission in December 2017, which alleges that Fischer and another Four Points broker, Zachary S. Berkey, recommended a high cost, in and out trading strategy without reasonable basis to believe it was suitable for the customers.

The SEC alleges that Berkey and Fischer:

  •  were reckless in making such a recommendation which was not suitable given the customers’ financial needs, investment objectives and circumstances.
  • made material misrepresentations and omissions to customers

and that Fischer engaged in unauthorized trading.

Four Points Capital broker Zach Berkey is named in this same complaint.

Link to SEC complaint.

According to the SEC complaint, the ten customers accounts involved suffered losses of $573,867 while Berkey earned $106,000 and Fischer earned $175,000 in commissions.

According to FINRA records Fischer was employed by Four Points Capital Partners from 11.2012-7/2017. Prior to that he was employed by WTS Proprietary Trading Group and before that Dimension Securities.

Fischer discloses a prior regulatory event. In 7/2016 he consented to FINRA sanctions and was fined $5,000 and suspended for 20 business days to resolve allegations that he exercised discretion in customers’ accounts notwithstanding the fact that he did not have written authorization from the customers to place discretionary trades.

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.

If you have questions about  an account handled by Daniel T. Fischer if you have an account with Four Points Capital Partners that you believe has been mishandled , contact us to discuss your legal 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

Nick E. Son-Aegis Capital Corp. Broker-Discloses Customer Dispute Alleging High Pressure Sales Tactics

New York

UPDATE MAY 2017-Nick E. Son discloses a recently filed customer arbitration. In 12/2016 a customer of Aegis Capital alleges damages in an unspecified amount relating to use of margin and unsuitable transactions.

ORIGINAL POST-JULY 2016

The FINRA records of Nick E. Son ,  a  stock broker currently employed  by Aegis Capital Corp. , disclose a pending customer dispute, 4 prior customer disputes, and 2 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 the currently pending matter received by the company in April 2016, a customer of Aegis Capital  alleges damages of $65,985 for high pressure sales tactics, misrepresentation and misleading information.

Son discloses the following outstanding judgment/liens:

  • $2,628 in favor of AMEX Travel Services, filed in civil court for New York County
  • $4,890 in favor of CitiBank filed in civil court for New York County.

Son has been employed by Aegis Capital since 9/2014. He was with Alexander Capital from 3/2012-9/2014 and WTS Proprietary Trading Group 12/2011-6/2012.

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