MAY 2018 UPDATE-Minnetonka, MN
According to FINRA records, Bernard T. Weber , a broker who has been registered with Feltl & Company since 12/2006 , discloses five prior customer disputes, two final regulatory events, two outstanding judgement/liens and one 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 one of the prior customer complaints , a customer of Feltl and Co. alleged damages of $459,235 for churning, failure to follow instructions and misrepresentation regarding the purchase of penny stocks. That matter was settled in 11/2017 for $120,000.
Weber discloses outstanding IRS tax liens of $70,715 and $88,094.
Feltl & Co. Prior Regulatory Issues related to Penny Stocks, Front Running, Junk Bonds, Excessive Sales Charges and ETFs
The FINRA record of Feltl & Co. discloses 11 prior regulator events, including the following:
2017– Feltl was censured and $150,000 fine to resolve allegations that they failed to supervise a broker who had conflicts of interest and sold shares of a penny stock, X Corp. , that he personally owned around same time he was recommending that penny stock to customers, “front running”. FINRA AWC 2010024882202
2016-Censured and fined $183,128 by the US Securities and Exchange Commission to resolve allegations that they violated industry rules related to the sale of junk bonds.
2016-Censured and fined $250,000 to resolve allegations Feltl failed to identify and apply sales-charge discounts to certain customers purchasing Unit Investment Trusts (UITs).
2014-Feltl & Co. was fined $1 million in 2014 for issues related to inadequacy of supervision in connection with the sale of penny stocks. See this for more.
2014-That same year Feltl & Co. was fined $225,000 to resolve allegations that firm procedures related to the sale of ETFs were inadequate. See this for more.
If you have questions about a brokerage account handled by Bernard T. Weber , call to discuss your legal options. You may be entitled to 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.
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