March 2018-Logan, Utah
An all public FINRA arbitration panel recently orderedand former Allegis broker Brandon C. Stimpson to pay a former client over $400,000 for losses suffered on the buying and selling of put options tied to the performance of the Russell 2000 index. The award, which is joint and several, included compensatory damages, interest, costs and attorney fees. Watson v Allegis Investment Services, et al, FINRA Case 16-0343.
The FINRA records of Brandon Curt Stimpson , disclose a number of prior and pending customer disputes 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 2/2016 a customer of Stimpson and Allegis Investment Advisors was paid $35,000 to resolve allegations that an option trade placed in his account was outside the scope of the strategy.
There are currently two pending arbitrations disclosed, seeking a total of $700,000, that relate to option trading.
Stimpson had been employed by Allegis since 5/2014. In 12/2017 he was discharged for failing to follow firm policies and code of ethics. Prior to that he was employed by Signator Financial Services.
If you have questions about an account handled by Brandon C. Stimpson, call for a no charge consultation to learn about 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.
Florida-561 391 1900