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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
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  • San Miguel De Allende-Frank Dettenrieder, Former First Allied Securities Broker, Sanctioned By Regulators

    San Miguel de Allende, Mexico

    UPDATE JUNE 22, 2015- Rex Securities Law is investigating Frank Dettenrieder on behalf of a retiree who lives in San Miguel de Allende, Mexico. See this for more.

    As of June 22, 2015, FINRA records indicate that Dettenrieder was discharged from First Allied Securities on 7/9/2013 with the following allegations:

    "Registered representative violated firm policy by exercising discretion in customer accounts without written authorization"

    Dettenrieder is not currently registered with any FINRA member firm.

    In July 2014, FINRA suspended Frank Nicholas Dettenrieder of San MIguel de Allende, Guanajuato, Mexico for 12 days and assessed a deferred fine of $5,000 to resolve allegations that he effected discretionary transactions in the accounts of six customers without having those accounts accepted as discretionary accounts by his member firm.

    According to FINRA records, Dettenrieder was registered with First Allied Securities from 12/2008-7/2013.

    If you suffered losses in an account handled by Frank Dettenrieder, you may be able to collect damages from his former employer. Call to speak with an experienced securities attorney to learn more.

    Rex Securities Law , located in Boca Raton, FL, (and soon to be opening a second office in Bee Cave, just outside of 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.

    Rex Securities Law

    561 391 1900

    Jun 22 11:19 AM | Link | Comment!
  • Rex Securities Law Investigates Former Broker Frank Dettenrieder

    June 1, 2015

    Rex Securities Law is investigating Frank Nicholas Dettenrieder who was formerly a stock broker with First Allied Securities from December 2008 until July 2013 when he was discharged from First Allied Securities for exercising discretion in customer accounts without written authorization.

    His official FINRA records show that Dettenrieder was suspended by FINRA in July 2014 for exercising discretion in six customer accounts. In addition he has been named in several customer complaints including one case in which the customer received an award of $239,000 against his employing firm in an arbitration alleging that investments they were sold were unsuitable.

    We are investigating Dettenrieder on behalf of a retiree residing in San Miguel de Allende, Mexico, who believes the account was mishandled.

    If you have information related to this matter, we would appreciate hearing from you. If you have losses in an account handled by Frank Dettenrieder you may be entitled to recover damages from his employer. Call to discuss your options.

    First Allied Securities was formed in 1994, has 1,000 financial advisors in 500 branch offices. First Allied, like all brokerage firms in the United States is licensed by the Financial Industry Regulatory Authority (FINRA).

    First Allied Securities also conducts business under the following names:

    • Advanced Equities Wealth Management Private Client Services
    • First Allied
    • First Allied Wealth Management
    • Greenbook Financial Services

    In 2013 FINRA charged First Allied with having inadequate procedures regarding the delivery of prospectuses in connection with the sale of Exchange Traded Funds (NYSEMKT:ETF) and Unit Investment Trusts (UIT). They paid FINRA a fine of $40,000 to resolve the matter. In 2010 the SEC charged First Allied with failure to supervise a broker who made unsuitable recommendations and churned customer accounts over a two year period and who also engaged in unauthorized trading. To resolve the matter First Allied paid fine and restitution of $500,000.

    Rex Securities Law , located in Boca Raton, FL, (and soon to be opening an office in Bee Cave, just outside of 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.

    Rex Securities Law

    561 391 1900

    Jun 01 4:19 PM | Link | Comment!
  • Worth Financial Group Of Dallas Receives Sanction From Securities Regulator

    January 9, 2015

    Worth Financial Group entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that it failed to establish adequate supervisory systems and written supervisory procedures to supervise sales of life settlement investments by the firm's registered representatives and non-associated individuals for whom the firm received override commissions.

    FINRA alleged that from July 2008 to April 2011 Worth sold fractional interests in life settlements issued by Life Partners, Inc., and collected override commissions on those sales.

    Worth Financial Group was censured and fined $10,000.

    FINRA Case # 2011025625101

    Worth Financial Group has been registered with FINRA since 1983 and is headquartered in Dallas, Texas.

    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

    Mar 28 1:18 PM | Link | Comment!
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