Tag Archives: World Equity Group investigation

Lucas Lichtman-Former Caldwell International Securities Broker-Sued by Securities Regulator

Englewood Cliffs, New Jersey

According to FINRA records,  Lucas D. Lichtman  a stockbroker who was formerly employed by Caldwell International Securities, discloses  a pending regulatory investigation .

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 FINRA Case 2014039091903, FINRA alleges that Lucas Lichtman and other representatives of his firm made unsuitable recommendations of an active trading investment strategy to their customers and that the firm is liable for the unsuitable recommendations of that strategy under the doctrine of respondeat superior.

The complaint alleges that Lichtman made recommendations despite the fact he and the other representatives failed to understand the risks of the investment strategy or the impact of the staggering commissions and fees generated would have on the customer accounts. This matter is currently pending.

Lichtman was employed by Caldwell International Securities from 4/2011-5/2016. Prior to that he was registered with SWS Financial Services and before that, World Equity Group. 

If you have questions about an account handled  by Lucas Lichtman or questions about your account at Caldwell International Securities, 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Richard Lim-Former Caldwell International Securities Broker-Named in Regulatory Complaint-Englewood Cliffs, NJ

Englewood Cliffs, New Jersey

According to FINRA records,  Richard Lim  a stockbroker who was formerly employed by Caldwell International Securities, discloses  a pending regulatory investigation and 3 presently outstanding judgement/liens .

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 FINRA Case 2014039091903, FINRA alleges that Lim and other representatives of his firm made unsuitable recommendations of an active trading investment strategy to their customers and that the firm is liable for the unsuitable recommendations of that strategy under the doctrine of respondeat superior.

The complaint alleges that Lim made recommendations despite the fact he and the other representatives failed to understand the risks of the investment strategy or the impact of the staggering commissions and fees generated would have on the customer accounts. The complaint further alleges that Lim willfully failed to timely update FINRA records to disclose judgments against him. This matter is currently pending.

Lim was employed by Caldwell International Securities from 4/2011-5/2016. Prior to that he was registered with SWS Financial Services and before that, World Equity Group. 

If you have questions about an account handled  by Richard Lim or questions about your account at Caldwell International Securities, 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Alex Etter-Former Caldwell International Securities Broker-Named in Regulatory Complaint

Englewood Cliffs, New Jersey

According to FINRA records,  Alex E. Etter  a stockbroker who was formerly employed by Caldwell International Securities, discloses  a pending regulatory investigation .

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 FINRA Case 2014039091903, FINRA alleges that Caldwell and other representatives of his firm made unsuitable recommendations of an active trading investment strategy to their customers and that the firm is liable for the unsuitable recommendations of that strategy under the doctrine of respondeat superior.

The complaint alleges that Caldwell made recommendations despite the fact he and the other representatives failed to understand the risks of the investment strategy or the impact of the staggering commissions and fees generated would have on the customer accounts. The complaint further alleges that Etter and other representatives failed to identify customer complaints and that none of the complaints were reported to FINRA in accordance with applicable rules. This matter is currently pending.

Etter was employed by Caldwell International Securities from 4/2011-5/2016. Prior to that he was registered with World Equity Group. 

If you have questions about an account handled  by Alex Etter or questions about your account at Caldwell International Securities, 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Barry Link, World Equity Group Broker, Named in Customer Dispute

May 2016- Wheaton, Illinois

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.

According to FINRA records,  Barry N. Link , currently a broker with World Equity Group discloses a pending customer dispute. In FINRA Case 16-0331, a customer alleges damages of $400,000 for negligence and breach of fiduciary duty.

Link  has been registered with World Equity Group since 6/2001. Link discloses business affiliations with Ashar Group LLC, First Financial Resources, Forum 400 and Equity Key Authorized Originator. 

If you have questions about an account handled by Barry N. Link  contact us to discuss your options and 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

Recovery Options for Investors Purchasing Private Placements From World Equity Group

If you have losses on private placement investments or exchange traded funds (ETFs) purchased from World Equity Group, we may be able to help you recover damages.

World Equity Group was censured and fined $225,000 by the Financial Industry Regulatory Authority (FINRA) in February 2015 for various issues, including:

  • failure to comply with the Bank Secrecy Act
  • failure to adequately investigate the restrictive nature of certain stocks deposited
  • deficiencies with their email communication systems
  • failure to establish and maintain customer suitability records
  • inadequate system to ensure suitability of non traditional Exchange Traded Funds (ETFs)
  • inadequate due diligence in connection with private placements

FINRA AWC No. 2012030734701

Inadequate Due Diligence on Private Placement Offerings

FINRA noted that from July 2009-January 2012, World Equity Group conducted at least eight private placement options (including Newport Digital Technologies), raising over $6 million. From August 2010 to July 2012 World Equity Group conducted at least five non-traded real estate investment trust (REIT) offerings, selling more than $3 million worth.

While FINRA noted that due diligence files were maintained , there was insufficient documentation demonstrating whether the due diligence reports were actually reviewed by anyone at World Equity Group. FINRA also suggested that there was a potential conflict of interest between the issuers of the private placements and the third party diligence providers.

World Equity Group has been a FINRA member since 1992. They are based in Arlington Heights, Illinois and have about 160 brokers in 68 branch offices.

Investors with losses on private placements and/or ETFs purchased from World Equity Group 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