Securities Account Churning Attorney - Law Offices of Robert Wayne Pearce

Jun 19, 2021

Plainview, New York Securities Account Churning Attorney

Did Steven Luftschein Cause You Investment Losses? An Office of Hearing Officers decision became final in which Steven Robert Luftschein of Plainview, New York was barred from association from any FINRA member in all capacities. The sanction was based on findings that Luftschein allegedly churned and excessively traded in three customers’ accounts in violation of Section 10(b) of the Securities Exchange Act of 1934 (the Exchange Act) and Rule 10b-5 thereunder, and also FINRA Rules 2111, 2020 and 2010. From June 2013 through early October 2016, Steven Robert Luftschein was registered with Aegis Capital Corp. as a General Securities Representative. According to FINRA’s findings, Luftschein executed approximately 430 trades in three firm customers’ accounts resulting in high annualized turnover rates ranging from 12.5 to 96.3 and annualized cost-to-equity ratios ranging from 35.6% to 123.8%. The findings state that Luftschein did not have a reasonable basis to believe that his excessive trading was suitable and caused more than $261,000 in combined losses and approximately $136,200 in sales and commissions. The findings further state that Luftschein allegedly failed to seek or obtain approval from the customers or his firm before trading in the accounts. Although Steven Robert Luftschein is no longer registered or associated with a FINRA member, he remains subject to FINRA’s jurisdiction. Do You Need a Plainview, New York Securities Account Churning Attorney? Section 10(b) of the Exchange Act, Rule l0b-5, and FINRA Rule 2020 are anti-fraud rules. They prohibit associated persons from using manipulative, deceptive or other fraudulent devices or contrivances in connection with the purchase or sale of any security (Rule 10b-5) or to induce the purchase or sale of any security (FINRA Rule 2020). FINRA Rule 2111 requires, among other things, an associated person “who has actual or de facto control over a customer account to have a reasonable basis for believing that a series of recommended transactions, even if suitable when viewed in isolation, are not excessive and unsuitable for the customer when taken together” in light of the customer’s investment profile. A violation of FINRA Rule 2111 also constitutes a violation of FINRA Rule 2010. Are you a Plainview, New York investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Plainview, New York stockbroker or investment advisor excessively trade or churn or otherwise mismanage your investment account? If so, you will need to have representation from an experienced, highly-rated and nationally recognized FINRA arbitration securities churning law attorney—an attorney who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases as well as other complex legal issues. Free Initial Consultation With Experienced Securities Churning Attorneys Serving Plainview, New York Residents In FINRA Arbitrations At The Law Offices of Robert Wayne Pearce, P.A. we represent investors in all kinds of securities, commodities and investment law disputes in FINRA, AAA and JAMS arbitration and mediation proceedings. Attorney Pearce and his staff represent investors throughout New York, and across the United States on a CONTINGENCY FEE basis which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español For dedicated representation by Attorney Pearce with over 40 years of experience and success in all kinds of securities, commodities and investment law disputes serving New York citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Jun 9, 2021

Staten Island, New York Securities Account Churning Lawyer

Did Christian Frank Lucchetto Cause You Investment Losses? Christian Frank Lucchetto of Staten Island, New York submitted a Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority in which he was fined $5,000 and suspended from association with any FINRA member for a period of three months. The sanctions were based on findings that he allegedly engaged in excessive and unsuitable trading in violation of FINRA Rules 2111 and 2010. The suspension is in effect from February 16, 2021, through May 15, 2021. From July 2016 to September 2019, Christian Frank Lucchetto was registered as a General Securities Representative with First Standard Financial Company LLC. According to the FINRA findings, Lucchetto allegedly engaged in excessive and unsuitable trading in a customer’s accounts. The findings state that while Lucchetto exercised de facto control over the account, his trading generated high cost-to-equity ratios of more than 71 percent and a turnover rate of 19.42. In addition to the findings, the customer paid a total of $30,454.86 in commissions and fees while incurring losses totaling $64,402.09. In addition, Lucchetto was ordered to pay $30,454.86, plus interest, in restitution to the customer. Do You Need a New York Securities Account Churning Attorney? FINRA Rule 2111, requires, among other things, an associated person “to have a reasonable basis for believing that a series of recommended transactions, even if suitable when viewed in isolation, are not excessive and unsuitable for the customer when taken together” in light of the customer’s investment profile. Excessive trading occurs, and is unsuitable, when a registered representative has actual or de facto control over trading in a customer’s account and the level of activity in that account is inconsistent with the customer’s investment needs and objectives. A violation of FINRA Rule 2111 is also a violation of FINRA Rule 2010, which requires associated persons to observe high standards of commercial honor and just and equitable principles of trade. Are you a Staten Island, New York investor who has suffered significant losses in your stock brokerage and investment accounts? Did your New York stockbroker or investment advisor excessively trade or churn or otherwise mismanage your investment account? If so, you will need to have representation from an experienced, highly-rated and nationally recognized FINRA arbitration securities churning law attorney—an attorney who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases as well as other complex legal issues. Free Initial Consultation With Experienced Securities Churning Lawyers Serving Staten Island, New York Residents In FINRA Arbitrations At The Law Offices of Robert Wayne Pearce, P.A. we represent investors in all kinds of securities, commodities and investment law disputes in FINRA, AAA and JAMS arbitration and mediation proceedings. Attorney Pearce and his staff represent investors throughout New York, and across the United States on a CONTINGENCY FEE basis which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español For dedicated representation by Attorney Pearce with over 40 years of experience and success in all kinds of securities, commodities and investment law disputes serving New York citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Jun 5, 2021

Livingston, New Jersey Securities Account Churning Attorney

Did Anthony Tricarico Cause You Investment Losses? Anthony Tricarico of Livingston, New Jersey submitted a Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority in which he was fined $5,000 and suspended from association with any FINRA member for a period of six months. The sanctions were based on findings that he allegedly engaged in excessive and unsuitable trading in violation of FINRA Rules 2111 and 2010. The suspension is in effect from February 1, 2021, through July 31, 2021. In March 2010, Anthony Tricarico joined Aegis Capital Corp. while registered as a General Securities Representative. The firm later filed a Uniform Termination Notice (Form U5), disclosing Tricarico’s voluntary termination. According to FINRA’s findings, Tricarico allegedly engaged in excessive and unsuitable trading in three firm customers’ accounts. The findings state that while Tricario exercised de facto control over the accounts, his trading generated high cost-to-equity ratios and turnover rates. In addition to the findings, the customers paid a total of $44,733 in commissions and fees while incurring losses totaling $39,848. Although Anthony Tricarico is no longer registered through or associated with a FINRA member firm, he remains subject to FINRA’s jurisdiction. Do You Need a New Jersey Securities Account Churning Attorney? FINRA Rule 2111, requires, among other things, an associated person “to have a reasonable basis for believing that a series of recommended transactions, even if suitable when viewed in isolation, are not excessive and unsuitable for the customer when taken together” in light of the customer’s investment profile. Excessive trading occurs, and is unsuitable, when a registered representative has actual or de facto control over trading in a customer’s account and the level of activity in that account is inconsistent with the customer’s investment needs and objectives. A violation of FINRA Rule 2111 is also a violation of FINRA Rule 2010, which requires associated persons to observe high standards of commercial honor and just and equitable principles of trade. Are you a Livingston, New Jersey investor who has suffered significant losses in your stock brokerage and investment accounts? Did your New Jersey stockbroker or investment advisor excessively trade or churn or otherwise mismanage your investment account? If so, you will need to have representation from an experienced, highly-rated and nationally recognized FINRA arbitration securities churning law attorney—an attorney who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases as well as other complex legal issues. Free Initial Consultation With Experienced Securities Churning Attorneys Serving Livingston, New Jersey Residents In FINRA Arbitrations At The Law Offices of Robert Wayne Pearce, P.A. we represent investors in all kinds of securities, commodities and investment law disputes in FINRA, AAA and JAMS arbitration and mediation proceedings. Attorney Pearce and his staff represent investors throughout New Jersey, and across the United States on a CONTINGENCY FEE basis which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español For dedicated representation by Attorney Pearce with over 40 years of experience and success in all kinds of securities, commodities and investment law disputes serving New Jersey citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via email.

Feb 8, 2021

Philadelphia, Pennsylvania Securities Account Churning Attorney

Did Craig Gary Langweiler Cause You Investment Losses? Craig Gary Langweiler, a Philadelphia, Pennsylvania-based registered representative formerly employed with Meyers Associates, L.P. n/k/a Windsor Street Capital, was named a Respondent in a Financial Industry Regulatory Authority (FINRA) complaint alleging that he generated high commissions for himself and substantial losses for his customer by excessively trading the account of his customer. FINRA’s findings alleged Mr. Langweiler executed 257 trades in his customer’s account during the relevant period, a mere 193 days. FINRA found that Mr. Langweiler generated approximately $27,092 in commissions, while his customer incurred losses in excess of $33,000. FINRA also found that Mr. Langweiler exercised control over the customer’s account through his use of discretion, for which he neither sought nor received written approval. According to FINRA’s complaint, Mr. Langweiler was charged with violating FINRA Rule 2111, which governs suitability, stating that a registered representative with control over a customer’s account must have “a reasonable basis for believing that a series of recommended transactions, even if suitable when viewed in isolation, are not excessive and unsuitable for the customer when taken together in light of the customer’s profile.” Additionally, Mr. Langweiler was charged with violating NASD Rule 2510(b) and FINRA Rule 2010, for his alleged unauthorized discretionary trading. Do You Need A Securities Account Churning Attorney? Pennsylvania has thousands of stock brokerage firms and investment advisory offices. With so many stock brokerage firms and investment advisory offices, comes the potential for their stockbrokers, financial advisors, and other representatives to excessively trade or churn customer accounts to generate commissions and engage in all kinds of stockbroker misconduct which violates Federal and Pennsylvania securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures. Experienced Lawyers Who Handle Securities Churning Claims In FINRA Arbitrations Throughout Pennsylvania and Nationwide. Are you a Pennsylvania investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Pennsylvania stockbroker or investment advisor excessively trade or churn or otherwise mismanage your investment account? If so, you will need to have representation from an experienced, highly-rated and nationally recognized FINRA arbitration securities churning law attorney—an attorney who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases as well as other complex legal issues. By hiring a top rated attorney like Robert Wayne Pearce with over 40 years of experience practicing securities law on both sides of the table in FINRA arbitration proceedings, you will clearly see that Attorney Pearce doesn’t just handle cases—he aggressively represents investors and one of the best lawyers to recover your investment losses for excessively trading or churning customer accounts to generate commissions and all types of stockbroker misconduct in FINRA arbitration proceedings! At The Law Offices of Robert Wayne Pearce, P.A., we represent investors in all kinds of securities law and investment disputes in FINRA arbitration and mediation proceedings. We handle a wide range of practice areas such as fraud and misrepresentation, breach of fiduciary duty, failure to supervise, and unsuitable recommendations. Attorney Pearce and his staff represent investors throughout Pennsylvania, and across the United States on a CONTINGENCY FEE basis, which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español Free Initial Consultation With An Experienced Securities Churning Attorney Serving Pennsylvania Residents In FINRA Arbitrations The Law Offices of Robert Wayne Pearce, P.A. are highly experienced lawyers who successfully handle churning cases and other securities law matters and investment disputes in FINRA arbitration proceedings, and who work tirelessly to secure the best possible result for you and your case. For dedicated representation by an attorney with over 40 years of experience and success in churning cases and all kinds of securities law and investment disputes serving Pennsylvania citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Feb 3, 2021

Surfside, Florida Securities Account Churning Lawyer

Did Bryan Gabriel Mazliach Cause You Investment Losses? Bryan Gabriel Mazliach of Surfside, Florida was named respondent in a FINRA complaint alleging that he excessively and unsuitably traded customers’ accounts, engaged in unauthorized trading and failed to cooperate during an investigation. Based on the alleged misconduct, Mazliach was in violation of FINRA Rules 8210, 2111 and 2010. In January 2015, Bryan Gabriel Mazliach joined Laidlaw and was registered as a General Securities Representative. The firm later filed a Uniform Termination Notice (Form U5) disclosing that they terminated Mazliach’s registration due to his voluntary resignation. According to the FINRA complaint, Mazliach had allegedly recommended investment strategies in five customers’ accounts that caused losses of over $170,000 and generated commissions and fees for Laidlaw and Mazliach of more than $187,000. The complaint alleges that the trades were unsuitable and excessive based on the investment profiles and Mazliach failed to have a reasonable basis as to whether his recommendations were suitable. In addition, the complaint further alleges that during FINRA’s investigation into his trading, Mazliach had failed to respond to the requested information. FINRA Rule 2111 requires that an associated person have a reasonable basis to believe that a recommended transaction or investment strategy is suitable for the customer, based upon information obtained through reasonable diligence of the associated person to ascertain the customer’s investment profile. FINRA Rule 8210(a) requires a “person associated with a member, or any other person subject to FINRA’s jurisdiction to provide information orally, in writing, or electronically with respect to any matter involved in [an] investigation.” A failure to comply with a request for information pursuant to FINRA Rule 8210 is also a violation of FINRA Rule 2010. Do You Need A Florida FINRA Securities Arbitration Attorney? Are you a Surfside, Florida investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Florida stockbroker or investment advisor excessively trade or churn or otherwise mismanage your investment account? If so, you will need to have representation from an experienced, highly-rated and nationally recognized FINRA arbitration securities churning law attorney—an attorney who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases as well as other complex legal issues. Free Initial Consultation With Experienced Securities Churning Lawyers Serving Surfside, Florida Residents In FINRA Arbitrations At The Law Offices of Robert Wayne Pearce, P.A. we represent investors in all kinds of securities, commodities and investment law disputes in FINRA, AAA and JAMS arbitration and mediation proceedings. Attorney Pearce and his staff represent investors throughout Florida, and across the United States on a CONTINGENCY FEE basis which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español For dedicated representation by Attorney Pearce with over 40 years of experience and success in all kinds of securities, commodities and investment law disputes serving Florida citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Jan 26, 2021

Smithtown, New York Securities Account Churning Attorney

Did David Cannata Cause You Investment Losses? David Cannata, formerly employed by Craig Scott Capital, has been permanently barred from working as a stockbroker in the securities industry for allegedly engaging in a pattern of unsuitable and excessive trading in accounts of three customers, one of whom was a 92 year old retiree, causing the clients to collectively suffer losses of $1,566,298.14. According to FINRA, Mr. Cannata had de facto control over the customers’ accounts and employed a trading strategy which generated extraordinary levels of activity and disregard of his customers’ interests and financial objectives, thereby maximizing his own compensation. FINRA alleged with respect to the account of the 92 year old retiree, Mr. Cannata engaged in 128 trades in a span of 5 months, generating over $95,000 in commissions and fees. In another customer’s account, Mr. Cannata allegedly engaged in 1,680 trades in a nine month time span, generating over $690,000 in commissions and fees. Consequently, David Charles Cannata, of Smithtown New York, was barred by FINRA and ordered to pay $1,566,298.14, plus interest, in restitution to the affected customers. Do You Need A Securities Account Churning Attorney? New York has thousands of stock brokerage firms and investment advisory offices. With so many stock brokerage firms and investment advisory offices, comes the potential for their stockbrokers, financial advisors, and other representatives to excessively trade or churn customer accounts to generate commissions and engage in all kinds of stockbroker misconduct which violates Federal and New York securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures. Experienced Lawyers Who Handle Securities Churning Claims In FINRA Arbitrations Throughout New York and Nationwide. Are you a New York investor who has suffered significant losses in your stock brokerage and investment accounts? Did your New York stockbroker or investment advisor excessively trade or churn or otherwise mismanage your investment account? If so, you will need to have representation from an experienced, highly-rated and nationally recognized FINRA arbitration securities churning law attorney—an attorney who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases as well as other complex legal issues. By hiring a top rated attorney like Robert Wayne Pearce with over 40 years of experience practicing securities law on both sides of the table in FINRA arbitration proceedings, you will clearly see that Attorney Pearce doesn’t just handle cases—he aggressively represents investors and one of the best lawyers to recover your investment losses for excessively trading or churning customer accounts to generate commissions and all types of stockbroker misconduct in FINRA arbitration proceedings! At The Law Offices of Robert Wayne Pearce, P.A., we represent investors in all kinds of securities law and investment disputes in FINRA arbitration and mediation proceedings. We handle a wide range of practice areas such as fraud and misrepresentation, breach of fiduciary duty, failure to supervise, and unsuitable recommendations. Attorney Pearce and his staff represent investors throughout New York, and across the United States on a CONTINGENCY FEE basis, which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español Free Initial Consultation With An Experienced Securities Churning Attorney Serving New York Residents In FINRA Arbitrations The Law Offices of Robert Wayne Pearce, P.A. are highly experienced lawyers who successfully handle churning cases and other securities law matters and investment disputes in FINRA arbitration proceedings, and who work tirelessly to secure the best possible result for you and your case. For dedicated representation by an attorney with over 40 years of experience and success in churning cases and all kinds of securities law and investment disputes serving New York citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Jan 21, 2021

North Middletown, New Jersey Securities Account Churning Attorney

Did Halil Kozi Cause You Investment Losses? Halil Kozi, of North Middletown, New Jersey was suspended for two years by FINRA for excessive trading, known as churning, and unsuitable options recommendations and trades. Halil Kozi was employed by PHX Financial, Inc. when, according to FINRA’s findings, he allegedly recommended transactions in a client’s account that were quantitatively unsuitable and excessive and inconsistent with the customer’s risk profile, growth objectives, and financial needs. FINRA found that Mr. Kozi recommended risky, speculative equity and options transactions which generated gross commissions of over $135,000 while causing the customer to incur losses of approximately $72,000. Without admitting or denying the FINRA findings, Halil Kozi was suspended from association with any FINRA member for two years. New Jersey has hundreds of stock brokerage firms and investment advisory offices. With so many stock brokerage firms and investment advisory offices, comes the potential for their stockbrokers, financial advisors, and other representatives to excessively trade or churn customer accounts to generate commissions and engage in all kinds of stockbroker misconduct which violates Federal and New Jersey securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures. Experienced Lawyers Who Handle Securities Churning Claims In FINRA Arbitrations Throughout New Jersey and Nationwide. Are you a New Jersey investor who has suffered significant losses in your stock brokerage and investment accounts? Did your New Jersey stockbroker or investment advisor excessively trade or churn or otherwise mismanage your investment account? If so, you will need to have representation from an experienced, highly-rated and nationally recognized FINRA arbitration securities churning law attorney—an attorney who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases as well as other complex legal issues. Do You Need A Securities Account Churning Attorney? By hiring a top rated attorney like Robert Wayne Pearce with over 40 years of experience practicing securities law on both sides of the table in FINRA arbitration proceedings, you will clearly see that Attorney Pearce doesn’t just handle cases—he aggressively represents investors and one of the best lawyers to recover your investment losses for excessively trading or churning customer accounts to generate commissions and all types of stockbroker misconduct in FINRA arbitration proceedings! At The Law Offices of Robert Wayne Pearce, P.A., we represent investors in all kinds of securities law and investment disputes in FINRA arbitration and mediation proceedings. We handle a wide range of practice areas such as fraud and misrepresentation, breach of fiduciary duty, failure to supervise, and unsuitable recommendations. Attorney Pearce and his staff represent investors throughout New Jersey, and across the United States on a CONTINGENCY FEE basis, which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español Free Initial Consultation With An Experienced Securities Churning Attorney Serving New Jersey Residents In FINRA Arbitrations The Law Offices of Robert Wayne Pearce, P.A. are highly experienced lawyers who successfully handle churning cases and other securities law matters and investment disputes in FINRA arbitration proceedings, and who work tirelessly to secure the best possible result for you and your case. For dedicated representation by an attorney with over 40 years of experience and success in churning cases and all kinds of securities law and investment disputes serving New Jersey citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Jan 20, 2021

Hillside, New Jersey Securities Account Churning Attorney

Did Franklin Ihendu Ogele Cause You Investment Losses? Franklin Ihendu Ogele of Hillside, New Jersey submitted a Letter of Acceptance, Waiver and Consent (AWC) in which Mr. Ogele received a fine and suspension from the Financial Industry Regulatory Authority (FINRA) for allegedly failing to supervise in violation of NASD Rule 3010 and FINRA Rules 3110 and 2010. Mr. Ogele joined BlackBook Capital, LLC. in May 2004. During the relevant period, he was registered as BlackBook’s Chief Executive officer and Chief Compliance Officer. FINRA’s findings stated that Mr. Ogele was responsible for supervising a representative who was the top-producing broker in the firm’s branch. FINRA found, Mr. Ogele did not supervise the trading activities of the representative and instead allowed him to self-supervise his own activities. In addition, FINRA stated that the representative’s trading in the customer’s account incurred significant losses at a cost-to-equity ratio and turnover rate that should have resulted in a churning investigation by Mr. Ogele. Franklin Ihendu Ogele, without admitting or denying FINRA’s findings, was assessed a deferred fine of $5,000 and suspended from association with any FINRA member in all capacities for 45 days. Do You Need A Securities Account Churning Attorney? New Jersey has hundreds of stock brokerage firms and investment advisory offices. With so many stock brokerage firms and investment advisory offices, comes the potential for their stockbrokers, financial advisors, and other representatives to excessively trade or churn customer accounts to generate commissions and engage in all kinds of stockbroker misconduct which violates Federal and New Jersey securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures. Experienced Lawyers Who Handle Securities Churning Claims In FINRA Arbitrations Throughout New Jersey and Nationwide. Are you a New Jersey investor who has suffered significant losses in your stock brokerage and investment accounts? Did your New Jersey stockbroker or investment advisor excessively trade or churn or otherwise mismanage your investment account? If so, you will need to have representation from an experienced, highly-rated and nationally recognized FINRA arbitration securities churning law attorney—an attorney who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases as well as other complex legal issues. By hiring a top rated attorney like Robert Wayne Pearce with over 40 years of experience practicing securities law on both sides of the table in FINRA arbitration proceedings, you will clearly see that Attorney Pearce doesn’t just handle cases—he aggressively represents investors and one of the best lawyers to recover your investment losses for excessively trading or churning customer accounts to generate commissions and all types of stockbroker misconduct in FINRA arbitration proceedings! At The Law Offices of Robert Wayne Pearce, P.A., we represent investors in all kinds of securities law and investment disputes in FINRA arbitration and mediation proceedings. We handle a wide range of practice areas such as fraud and misrepresentation, breach of fiduciary duty, failure to supervise, and unsuitable recommendations. Attorney Pearce and his staff represent investors throughout New Jersey, and across the United States on a CONTINGENCY FEE basis, which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español Free Initial Consultation With An Experienced Securities Churning Attorney Serving New Jersey Residents In FINRA Arbitrations The Law Offices of Robert Wayne Pearce, P.A. are highly experienced lawyers who successfully handle churning cases and other securities law matters and investment disputes in FINRA arbitration proceedings, and who work tirelessly to secure the best possible result for you and your case. For dedicated representation by an attorney with over 40 years of experience and success in churning cases and all kinds of securities law and investment disputes serving New Jersey citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Jan 15, 2021

St. Louis, Missouri Securities Account Churning Attorney

Did Chadrick David Kelly Cause You Investment Losses? Chadrick David Kelly, a former broker employed at St. Louis, Missouri-based Wells Fargo Advisors, LLC, submitted a Letter of Acceptance, Waiver and Consent (AWC) in which he agreed to, without admitting or denying, the described penalty and the entry of the Financial Industry Regulatory Authority’s (FINRA) findings that he engaged in unsuitable excessive trading and churning in his customers’ accounts. FINRA’s findings stated Mr. Kelly willfully violated Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5, FINRA Rule 2010, and NASD Rule 2110. Mr. Kelly of Denham Springs, Louisiana was prohibited from association with any FINRA member in any capacity. FINRA found that Mr. Kelly’s customers were unsophisticated investors with no education beyond the high school level, and each had annual income levels lower than $100,000 and a total net worth of under $500,000. Almost all of the customers lost a significant percentage of their retirement savings. Mr. Kelly caused more in commissions in two accounts than those accounts had in equity. FINRA’s findings stated that the customers relied totally on Mr. Kelly’s investment advice, and he exercised de facto control over their accounts. As reflected in the accounts’ turnover rates and cost-to-equity ratios, the level of activity in the accounts was not consistent with the customers’ objectives and financial situation. FINRA also found that Mr. Kelly made unauthorized trades in other customers’ accounts. Mr. Kelly entered sell orders in non-discretionary client accounts and effected numerous additional trades in customers’ accounts without obtaining client approval. It came as a surprise to the customers to learn about the trading in their accounts because none of the customers’ accounts were discretionary accounts. Do You Need A Securities Account Churning Attorney? Missouri has thousands of stock brokerage firms and investment advisory offices. With so many stock brokerage firms and investment advisory offices, comes the potential for their stockbrokers, financial advisors, and other representatives to excessively trade or churn customer accounts to generate commissions and engage in all kinds of stockbroker misconduct which violates Federal and Missouri securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures. Experienced Lawyers Who Handle Securities Churning Claims In FINRA Arbitrations Throughout Missouri and Nationwide. Are you a Missouri investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Missouri stockbroker or investment advisor excessively trade or churn or otherwise mismanage your investment account? If so, you will need to have representation from an experienced, highly-rated and nationally recognized FINRA arbitration securities churning law attorney—an attorney who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases as well as other complex legal issues. By hiring a top rated attorney like Robert Wayne Pearce with over 40 years of experience practicing securities law on both sides of the table in FINRA arbitration proceedings, you will clearly see that Attorney Pearce doesn’t just handle cases—he aggressively represents investors and one of the best lawyers to recover your investment losses for excessively trading or churning customer accounts to generate commissions and all types of stockbroker misconduct in FINRA arbitration proceedings! At The Law Offices of Robert Wayne Pearce, P.A., we represent investors in all kinds of securities law and investment disputes in FINRA arbitration and mediation proceedings. We handle a wide range of practice areas such as fraud and misrepresentation, breach of fiduciary duty, failure to supervise, and unsuitable recommendations. Attorney Pearce and his staff represent investors throughout Missouri, and across the United States on a CONTINGENCY FEE basis, which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español Free Initial Consultation With An Experienced Securities Churning Attorney Serving Missouri Residents In FINRA Arbitrations The Law Offices of Robert Wayne Pearce, P.A. are highly experienced lawyers who successfully handle churning cases and other securities law matters and investment disputes in FINRA arbitration proceedings, and who work tirelessly to secure the best possible result for you and your case. For dedicated representation by an attorney with over 40 years of experience and success in churning cases and all kinds of securities law and investment disputes serving Missouri citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.