Seeking Alpha

Robert Rex's  Instablog

Robert Rex
Send Message
This blog is written by Robert H. Rex, Esq. who is a securities attorney and a passionate advocate for investors rights. With over 30 years of legal experience, 25 of which have dealt almost exclusively with the recovery of stockmarket and investment losses for mostly elderly clients, he and his... More
My company:
Rex Securities Law
My blog:
Rex Investment Loss Recovery Blog
View Robert Rex's Instablogs on:
  • Donald Saccomano/Source Capital Group Investigation- Feb 2015 Update

    February 20, 2015

    A few months ago, we commenced an investigation of Donald Saccomano, a broker with Source Capital Group on behalf of an elderly couple and last month filed an arbitration against Source Capital Group for that couple who are seeking damages in excess of $250,000.

    The Financial Industry Regulatory Authority (FINRA) initiated a regulatory action against Donald Saccomano on January 7, 2015. Although the full details have not yet been made available, Saccomano's FINRA record indicates this regulatory matter involves municipal debt , direct investment products, limited partnership interests and allegations of unsuitable investments, misrepresentations and failure to supervise.

    The case we recently filed involves a direct investment product, Greenbacker Renewable Energy. Our elderly clients have made similar allegations that the investments Saccomano sold them were unsuitable , that he misrepresented the investments and that Source Capital Group failed to supervise Saccomano.

    Source Capital Group was formed in 1994 and has its main office in Westport, Connecticut. In July 2014 they were sanctioned and fined $100,000 in connection with the sale of oil and gas investments Blue Ridge Securities and Argyle Securities.

    If you have losses in an account handled by Donald Saccomano, contact us to discuss how you may be able to recover damages for your losses.

    Rex Securities Law , located in Boca Raton, FL, provides representation to investors in New England and 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.

    Rex Securities Law

    561 391 1900

    Feb 20 11:07 AM | Link | Comment!
  • Notice To Customers Of Former Southwest Securities Broker Wade Lawrence

    February 13, 2015

    Rex Securities Law is investigating Wade James Lawrence who was formerly a stock broker with Southwest Securities in Dallas, Texas, 8/2011-12/2013. Prior to that FINRA records indicate that he was registered with Oppenheimer & Co. in Fort Worth, Texas, 6/2008-7/2011.

    His official FINRA records , which can be accessed here, show that:

    • Lawrence was permanently barred from the industry on 1/8/2014.
    • he resigned from Oppenheimer & Co. 7/22/2011 after a client alleged that he offered compensation for customer losses.
    • there are presently 6 customer disputes pending which seek damages ranging from $70,000 to over $2.8 million dollars . The claims include breach of fiduciary duty, gross negligence, unsuitable recommendations, unauthorized trading and failure to supervise on the part the firm where he was employed.

    If you have losses in an account handled by Wade J. Lawrence you may be entitled to recover damages from his employer. Call to discuss your options.

    Rex Securities Law , located in Boca Raton, FL, provides representation to investors in Texas and 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.

    Rex Securities Law

    561 391 1900

    Feb 13 10:50 AM | Link | Comment!
  • SEC To Conduct Audit Of Girard Securities Branch Office Supervision

    January 29. 2015

    The InvestmentNews reports that Girard Securities is conducting an audit which will focus on the supervision of registered representatives and financial advisers in branch offices. According the article chairman and CEO Susie Woltman Tietjen reported in a memo that the data request from the SEC (Securities & Exchange Commission( is "massive".

    Audits focusing on branch office supervision is one the Examination Priorities for 2015 listed on a recently issued memo from the SEC National Exam Program.

    Girard Securities was formed in 1988 and has about 360 registered individuals located in 136 branch offices. In December 2014, in FINRA Case# 2012033033901, to resolve allegations by regulators that Girard's systems and supervisory procedures were not reasonably designed to prevent fraudulent third party wire transfers, Girard agreed to a censure and a $15,000 fine.

    One of the incidents in the FINRA regulatory action cited is that hackers obtained access to a customer's accounts and began making requests for illegitimate wire transfers.

    If you have losses in an account at Girard Securities, contact us to find out how you may be able to recover damages.

    Rex Securities Law , located in Boca Raton, FL, 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.

    Rex Securities Law

    561 391 1900

    Feb 02 11:47 AM | Link | Comment!
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.