Category Archives: Mutual Funds

Bill Fenwick-First Kentucky Securities Corp. – Discloses Customer Disputes-Louisville, KY

April 2018-Louisville, KY

The FINRA records of  William C. (Billy)  Fenwick Jr.  ,  Senior VP and Board member of  First Kentucky Securities Corporation disclose two pending customer disputes and a prior final 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 currently pending FINRA arbitration 17-0188 a customer of First Kentucky Securities Corp. alleges damages of $203,514 for unsuitable investments.

In currently pending FINRA arbitration 17-0157 a customer of First Kentucky Securities Corp. alleges damages of $500,000 for unsuitable investments in master limited partnerships (MLPs) and other investments from 2015-2016.

Fenwick has been employed by First Kentucky Securities since 11/2005. First Kentucky Securities, with  offices in Lexington and Louisville, discloses 9 prior regulatory events. In 3/2018, First Kentucky Securities paid FINRA a fine of $50,000 overcharged fees to certain customers on mutual fund sales. FINRA Case 2016048226101.

If you have losses in an account in an account handled by William C. ( Bill) Fenwick Jr.  , contact us for a no charge consultation to discuss how you may be able to recover damages for those losses 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

Ronald D. Clark-Summit Brokerage Services Broker-Discloses Pending Customer Disputes Involving REIT/Oil & Gas -Tampa, FL

March 2018 – Tampa, FL

According to publicly available records , Ronald D. Clark , (CRD# 1086724) ,  a  stockbroker who is employed by Summit Brokerage Services disclose  2 prior regulatory events, 2 pending customer disputes and 8 prior 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.

Clark was suspended by FINRA for 15 business days in 2011 to resolve allegations that he participated in a private securities transaction without providing written notice to his former employer ProEquities, Inc.

In recently filed FINRA Case 17-02658, filed in December 2017, a customer of ProEquities Inc.  alleges that unsuitability, overconcentration and misrepresentation concerning their investments in real estate investment trusts (REITs). Damages of $450,000 are alleged.

In another pending matter, a customer of Summit Brokerage Services alleges that Clark did not properly use mutual fund break points from July 2014 to August 2016 and recommended an oil and gas investment that suffered losses. Damages are alleged to be $500,000.

In one of the prior customer disputes, a customer of ProEquities was paid $65,000 to resolve allegations that investments recommendations were unsuitable, cost of riders and surrender charges were not discussed and that a signature on a form was forged.

Clark has been registered with Summit Brokerage Services since 3/2009, and  discloses business affiliations with The Money Coach LLC, Money Matters of Tampa and Money Matters of Alabama. 

If you have questions about an account in an account handled by Ronald D. Clark , contact us for a no charge consultation 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

Joeann Walker-Former LPL Financial Broker-Sanctioned Over Annuity Sales-Brockton, MA

December 2017-Brockton, MA

According to FINRA  records Joeann M. Walker, (CRD# 2210194) ,  a   stockbroker who formerly worked for NEXT Financial Group and LPL FInancial  was barred from the securities industry for failing to cooperate with a regulatory investigation.

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 Letter of Acceptance Waiver and Consent #2016049354501 , FINRA requested financial records and other documents from Walker in connection with an inquiry into the unsuitable sales of variable annuities to one of Walker’s clients. While Walker did provide some documents to FINRA , and  acknowledged that her response was incomplete, she refused to cooperate fully, resulting in a bar from the securities industry.

In 11/2016 a customer of NEXT Financial Group and LPL Financial alleged unauthorized sales of stocks, unauthorized and unsuitable purchases of variable annuities and unauthorized mutual fund switches. That matter was settled for $175,000, with Walker contributing $50,000 toward the settlement.

 

 

Walker was employed by LPL Financial from 8/2006-4/2015 and by NEXT Financial Group from 4/2015-11/2017.

If you have questions about an account handled by Joeann M. Walker, 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

Sherry Elaine McNair-1st Global Capital Broker-Discloses Customer Dispute-Lubbock, TX

MAY 2018 UPDATE-FINRA arbitration 15-3230 discussed below was settled 3/2018 for $35,000.

Original PostJune 2017- Lubbock, Texas

According to publicly available records Sherry Elaine McNair  (CRD#3162832) ,  a  stockbroker who currently is employed by 1st Global Capital Corp.  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 arbitration 15-03688, a customer of 1st Global Capital Corp. seeks damages of $250,000 and alleges an unsuitable investment in mutual funds.

McNair has been employed by 1st Global Capital since 8/2007 and also discloses a business affiliation with West Texas Wealthcare Advisors.

If you have questions about an account handled by Sherry Elaine McNair , 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

Jarred M Lawson – Former Merrill Lynch Broker-Discloses Termination and Suspension-Jacksonville, FL

June 2017 – Jacksonville, FL

The FINRA records of Jarred M. Lawson,  a  stockbroker who is currently not registered disclose a final regulatory event and a termination.

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 March of 2017, agreed to a one year suspension and a $10,000 fine to resolve FINRA allegations that   he made negligent misrepresentations or omissions during telephone calls with customers regarding the sale of mutual funds. Lawson  is suspended in all capacities from April 3, 2017 to April 2, 2018.

In January of 2016, Lawson was discharged from Merrill Lynch who made the following allegation in connection therewith: “conduct involving failure to make disclosures related to mutual fund transactions”.

 Lawson was employed by Merrill Lynch from 11/2012-2/2016 and with Edward Jones from 8/2012-11/2012.

If you have questions about an account  handled by Jarred M. Lawson 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