Tag Archives: raymond james lawsuit

Donald Cox-Raymond James Broker-Discloses Regulatory Event and Customer Dispute-Wyandotte, MI

June 2020- Wyandotte, MI

The FINRA records of Donald Marshall Cox, a broker  employed  by  Raymond James & Associates, Inc. disclose  a regulatory event and a 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 12/ 2014, Florida Office of Financial Regulation filed case #55706-SR alleging Cox conducted investment advisory business from offices within this state without the benefit of lawful registration in violation with Florida Statutes.   Cox was sanctioned to cease and desist and he was fined $10,000.

In October  2018,  a Raymond James & Associates, Inc. customer was paid $165,000 to resolve allegations of  breach of contract, breach of fiduciary duty, forgery, fraud, constructive fraud, professional malpractice, conversion and aiding and abetting.

Cox has been employed with Raymond James & Associates  since October of 2004.

If you have questions about an account  handled by Donald Marshall Cox 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.

International Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Scott D. Williams-Former LPL / Raymond James Broker- Discloses Termination For Discretionary Trading & Customer Suit for Churning- Franklin, TN

March 2019 – Franklin, TN

The FINRA records of Scott Douglas Williams, who is not currently registered as a broker,  disclose  a pending customer dispute and a termination 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 2/2019 a customer of LPL Financial filed FINRA case 19-0481 alleging that Williams churned their account and made unsuitable investment recommendations from March 2017-March 2018 , made for the purpose of generating excessive commissions.

Williams was employed by LPL Financial from 2/2017-8/2018. Prior to that Williams was employed by Raymond James from 1/2011-2/2017. In July 2018,  Williams  was discharged from LPL Financial.  In connection with the termination,LPL Financial alleged that Williams “violated the firm policy regarding discretion”.

Discretionary Trading is when a broker makes the trades in a customer’s account without first consulting with the customer. Generally a firm requires that a written agreement be in place in which the customer agrees to permit the broker to trade without consulting with the customer first.

If you have losses in an account  handled by Scott Douglas Williams , contact us for a no charge consultation to learn how you may be able 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

 

Mark S. Immel-Former G.A. Repple Broker-Discloses 19 Customer Complaints

UPDATE October 2016-FINRA records report that Mark S. Immel terminated his registration with G.A. Repple & Co. 5/2016 and as of October 25, 2016, he is not currently registered with any FINRA broker dealer.

Original post-March 28, 2016-Inverness, Florida

According to FINRA records, financial advisor Mark S. Immel, who has been registered with  G.A. Repple & Co. since May 2014, has 19 customer disputes reported , including these:

  • FINRA Case No 14-03734– alleges that while Immel was employed by Morgan Keegan & Company/ Raymond James & Associates, in connection with a mutual fund investment, he breached his fiduciary duty, was negligent and violated NASD rules. The customer sought damages of $55,000. The case was settled for $25,000.
  • FINRA Case 13-02442-alleges that while Immel was employed by Morgan Keegan & Company/ Raymond James & Associates, in connection with a real estate investment trust investment (REIT), he breached his fiduciary duty, made misrepresentations and omissions. Seeking damages of $140,635, the case was settled for $40,000.

If you have questions about an account with Mark S. Immel or G.A. Repple, call 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

Raymond James Fined $500,000 by Securities Regulators for Disclosing Nonpublic Customer Information

February 26, 2016- St. Petersburg, FL

Raymond James & Associates and Raymond James Financial Services entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that between January 2011 and March 2015, Raymond James caused certain newly-recruited brokers from other brokerage firms  to disclose customer nonpublic personal information to Raymond James in violation of Rule 10 of Regulation S-P, thereby violating FINRA Rule 2010.

Raymond James used the nonpublic personal information provided to fill out new account forms with certain customer information. Raymond James, however, failed to make any determination as to whether the recruits, or the current broker-dealers with which the recruits were associated, had obtained the customers’ consent to provide Raymond James with the customers’ nonpublic personal information or provided customers with notice of, and an opportunity to opt-out of the disclosure of said information.

AWC No.  2013035599201

Raymond James  was censured  and fined $500,000.

Raymond James & Associates, Inc. has been a FINRA registered broker-dealer since August 1964. Raymond James Financial Services, Inc. has been a FINRA registered broker-dealer since May 1974. They are wholly owned subsidiaries of Raymond James Financial, Inc. and are headquartered in St. Petersburg, Florida. They have approximately 11,400 registered representatives and 3,200 branch offices nationwide.

If you have questions about losses in an account at Raymond James,  contact us to find out how you may be able 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

Raymond James Broker Scott Altman Suspended and Fined

FINRA fined Scott Howard Altman, a broker with Raymond James & Associates  in RIchfield, Ohio, $5,000 and suspended him for 20 days to resolve allegations that he executed transactions in a customer account without the customer’s knowledge or authorization.

Altman received fraudulent emails from someone purporting to be the customer requesting wire transfers. Since the requested wire transfers exceeded the available cash in the account, Altman liquidated mutual funds totalling $26,000 and sold equities of $84,570 to fund the bogus wire transfers, without the customer’s knowledge or authority.

Rex Securities Law provides nationwide representation to investors 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.

Rex Securities Law

561 391 1900