Category Archives: Maine Office of Securities

Broker Discloses Criminal Event, Failure to Supervise, Maine Office of Securities, Revere Securities, Richfield Orion International, Stockbroker Discharged, Stockbroker Malpractice, StockBroker Misconduct

Robert K Lindell-Former Revere Securities Broker-Discloses Criminal Securities Charge-Bangor, ME

March 2017-Bangor, Maine

According to publicly available records Robert Kenneth Lindell, (CRD# 14178) ,  a  previously registered stockbroker who was last employed by Richfield Orion International, disclose 4 prior regulatory events, a pending criminal charge, 2 prior customer disputes and 2 terminations 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.

In the pending criminal matter, Case17-707, Penobscot County Superior Court, Lindell is charged with knowing or intentional securities violations and theft by unauthorized taking or transfer. Lindell has pleaded not guilty to the charges.

In May 2013, Lindell was discharged by Revere Securities who alleged: “violations of the firms policies on service as a personal trustee, accepting a fee for financial planning which was not approved and discretionary trading of client accounts”.

Lindell worked for Revere Securities from 2010-2013, and then for Richfield Orion International from 2013-3/2017. He is not currently registered with any broker dealer. Lindell discloses a business affiliation with R.K. Lindell & Co., 1220 N. Dutton, Ste 101, Santa Rosa, CA.

If you have losses in an account handled by Robert K. Lindell, contact us to learn how you may be entitled 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

Failure to Supervise, Florida Office of Financial Regulation, Maine Office of Securities, REITs, Revere Securities

Revere Securities Sanctioned by Securities Regulators

March 2017-New York

According to publicly available records Revere Securities LLC , (CRD# 14178) ,  a  FINRA registered broker dealer headquartered in New York City, discloses a pending regulatory matter , 9 prior final regulatory events and 3 prior customer arbitrations.

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 pending regulatory matter, Massachusetts securities regulators allege that Revere Securities failed to reasonably supervise one of is agents and that the firm engaged in dishonest and unethical conduct in violation of the Massachusetts securities act in connection with the sale of non-traded real estate investment trusts (REITs). Case #2015-0178. Sanctions sought include restitution, cease and desist, censure and disgorgement.

Prior regulatory issues include:

  • Maine Office of Securities-In 2014 Revere Securities were fined $35,000 and subjected to other sanctions for engaging in unlicensed activities and other violations.
  • Florida Office of Financial Regulation– In 2012 Revere Securities was fined and sanctioned for failing to file annual financial statements.

If you have losses on REITs purchased from Revere Securities or other questions about recovery of damages , 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

Annuities, FINRA, Finra Investigation of Stockbroker, Investor's Capital Corp., Maine Office of Securities, Misrepresentation, Moors & Cabot, Newport Coast Securities, Stockbroker Malpractice, StockBroker Misconduct, White Weld & Co. Securities

Former Moors & Cabot Broker Sanctioned Over Unauthorized Annuity Advertisements

June 18, 2015-Boston, MA

Lucian D. Hodgman  entered into a Letter of Acceptance Waiver and Consent (AWC)  with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that between May and July 2013 he caused approximately 40,000 copies of an advertisement postcard to be sent out by mail without the approval of a registered principal at his member firm, Moors & Cabot, in violation of FINRA Rules 2210(b)(1) and 2010. The postcards contained information about investing in fixed annuities that failed to provide a sound basis for evaluating such an investment, according to the AWC.

The AWC also alleges that in July or August 2013, Hodgman falsely represented to Moors & Cabot that a third party marketing firm was responsible for the mailing without his knowledge or authorization.

Hodgman was fined $5,000 and suspended from association with any FINRA member in any and all capacities for 18 months.

Disciplinary Proceeding NO. 2013038183301

According to FINRA records, Hodgman was previously registered as follows:

  • 10/2014-present                      Newport Coast Securities
  • 4/2014-8/2014                          White Weld & Co. Securities
  • 9/2013-3/2014                          Investors Capital Corporation
  • 1/2001-9/2013                          Moors & Cabot, Inc.

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

Elder Financial Abuse, Failure to Supervise, FInancial Exploitation of the Elderly, FINRA, Maine Office of Securities, North American Securities Administration Association (NASAA), Stockbroker Malpractice, StockBroker Misconduct, Unsuitable Investments

Maine Securities Regulator to Testify to Congress About Financial Exploitation of Senior Citizens

February 3, 2015-Augusta, Maine

Judith Shaw, administrator of Maine’s Office of Securities, is scheduled to testify before the U.S. Senate Special Committee on Aging according to the Portland Press Herald.

Shaw, who is also president-elect of the North American Securities Administration Association, was invited by Maine Republican Senator Susan Collins and will discuss Senior$afe , a collaborative effort by Maine regulators, financial institutions and legal organizations designed to protect seniors from financial abuse.

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

Elder Financial Abuse, FInancial Exploitation of the Elderly, Maine Office of Securities, StockBroker Misconduct

Seminar On How to Avoid Financial Abuse/Exploitation Set for Maine Residents February 1st

January 27, 2015-Augusta, Maine

A public forum on how older citizens can successfully “Age in Place….At Home” will be held on Sunday, February 1, 2015, in Jewett Hall Auditorium at the University of Maine at Augusta Senior College. A snow date is set for the same time on February 22.

This is third in a series of forums. The panel of experts will include:

  • Judith Shaw, securities administrator for the Maine Office of Securities, and co-chair of the Maine Council for Elder Abuse Prevention
  • Denis Culley,  Legal Services for the Elderly’s first senior staff attorney
  • Nan Bell, community educator of the Family Violence Project

For further information, email umasc@uma.edu, call 621-3551 or visit www.umasc.org

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