Staten Island, NY
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.
- FINRA Case 14-02407- a customer of Blinkhorn while he was registered with Wedbush Securities alleged damages of $1,569,773 for unsuitability, excessive trading, misrepresentations and omissions. That case was settled for $1,100,000.
- In 9/2015 another Wedbush Securities customer submitted a claim for $107,051 alleging unsuitable investments and unauthorized trading. That matter was settled for $83,000.
James R. Blinkhorn has been registered with Chelsea Financial Services since 10/2015. He was registered with Wedbush Securities from 10/1999-9/2015.
If you have questions about an account handled by James R. Blinkhorn contact us to discuss your options and to learn how you may be able to recover damages through FINRA arbitration.
Excessive trading occurs whcn a registered representative exercises control over a customer’s account and the level of activity in that account is inconsistent with the customer’s investment objectives, financial situation, and needs. Excessive trading violates FINRA’s suitability standards under NASD Conduct Rule 2310 and FINRA Rule 2 11 1. Excessive trades recommended with requisite scienter such as a reckless disregard for a customer’s interests – is considered churning.
Excessive trading generally is measured by the turnover rate, which is the number of times the value of the account is turned over within a given period of time, and the cost-to-equity ratio, which represents the percentage of return on the customer’s average net equity needed to pay commissions and other account expenses over a given period of time.
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.
Florida-561 391 1900