January 2020 – Santa Rosa, CA
The FINRA records of Michael Stevan Sims, a stockbroker who was last employed by Wedbush Securities, Inc., disclose 4 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.
In 11/2019 a customer of Wedbush Securities, Inc. was paid $702,600 to resolve allegations of unsuitability, breach of fiduciary duty, duty of loyalty, negligence, negligent misrepresentation, breach of contract, material omissions and misrepresentation in connection with the sale of securities, fraud and deceit based concealment and violations of Federal statutes, Sims was personally responsible for $250,000 of this settlement.
In 11/2018, a customer of Wedbush Securities, Inc. settled a claim and was paid $26,604 to resolve allegations that she had losses in her account.
In 12/2019 a customer of Wedbush Securities, Inc., was paid $71,519 to resolve allegations of excessive trading, inappropriate investments, mismanagement of account, excessive commissions and lack of supervision .
Michael Stevan Sims was employed by Wedbush Securities, Inc. from April 2005 until July of 2019.
If you have questions about an account handled by Michael Stevan Sims call for a no charge consultation to learn more about 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.
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