Tag Archives: stockbroker negligence

Sonos Capital Advisors Fined by South Carolina Securities Regulator

February 12, 2015- Myrtle Beach, South Carolina

The Securities Division of Office of the Attorney General of South Carolina imposed a $10,000 fine against Sonos Capital Advisors, LLC, of Myrtle Beach, for impeding an investigation by the Division of Securities according to a recently entered Order.

Sonos Capital Advisors is a South Carolina registered investment adviser. In December 2014, the Securities Commission entered an order summarily suspending Sonos Capital Advisors .

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

WR&A Financial Services Sanctioned by South Carolina Securities Regulator

February 12, 2015- South Carolina

South Carolina Securities Commissioner Alan Wilson revoked the registration of WR&A Financial Services, Inc. of Charleston, South Carolina,  and assessed a $10,000 fine for failing to respond to a Rule to Show Cause filed by the Commission in October 2014.

WR&A Financial was a state registered investment adviser.

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

Florida Financial Planner Michael Hardman Convicted of Bilking Investors

February 13, 2015-West Palm Beach, Florida

The InsuranceNewsNet.com reports that former Lake Worth, FL, financial planner Michael Hardman was convicted of first and second degree grand theft for bilking investors of of $1.3 million.

Hardman, age 63, faces a minimum of 34 months and maximum 45 years in prison when sentenced by Judge Stephen Rapp on April 7th.

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

Edward D. Jones & Co. – Rex Securities Law Investigates Recent Regulatory Issues

February 15, 2015

Edward D. Jones & Co. has been a FINRA member since 1939. Their main office is in St. Louis, Missouri, and they have over 11,000 branch offices nationwide employing over 16,000 brokers. Edward Jones FINRA regulatory history , which can be accessed here, indicates that they have disclosed 61 regulatory events that have been finalized, 2 civil events and 158 arbitrations.

Most recently, in January 2015, Edward D. Jones & Co.   entered into a Letter of Acceptance, Waiver and Consent  (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that they failed to supervise the certification of customer signatures on certain documents that required firm employees to attest that the customers had signed the documents in their presence.

FINRA alleged that from 2002-July 2013, firm employees falsely certified customer signatures on certain documents.

Edward D. Jones & Co.  was censured  and fined $60,000.

FINRA Case # 2012032011102

Some of Edward D. Jones & Co.’s  most recent regulatory matters:

  • October 2014-Censured and fined $100,000 for inadequate anti-money laundering (AML)  procedures.
  • July 2014-Censured, fined and disgorgement of $21,100 for failure to failure to obtain fair and reasonable pricing in sales/purchase of municipal securities
  • February 2014- $750,000 fine paid to New Hampshire securities regulators to resolve allegations that they violated telephone solicitation rules.
  • January 2014- Censured and fined $200,000 to resolve FINRA allegations that they failed to train and educate brokers regarding exchange traded funds  (ETFs) and allowed the sale of exchange traded funds without performing adequate due diligence.

See Edward D. Jones & Co. complete regulatory history on the FINRA brokercheck site.

If you have losses in an account at Edward D. Jones & Co. , 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

Thomas Lucas Found Guilty in North Texas Disney Park Trial

February 13, 2015- Sherman, Texas

The Dallas Morning News reports that a jury took less than an hour to return a verdict of guilty on all counts in the fraud trial against Thomas W. Lucas, Jr.

Lucas, of Plano, Texas, was on trial in connection with duping investors into thinking they were investing in a land deal near Celina where a “Frontier Disney” park was supposed to be built. Investors lost about $14 million according to the press report.

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