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SEC Warns Investors To Be Wary Of Oil & Gas Offerings
On May 2, 2013, the Securities & Exchange Commission (SEC) issued and investor alert on considerations investor should be aware of when investing in private oil & gas offerings. Follow this link to access the entire document on the SEC website. This warning is much like a similar warning from the North American Securities Administrators Association in March 2013.
The SEC warns that investing in any private security offering contains unique risks, but oil and gas offerings have additional risks to consider. They list these common red flags often used to tout these investments to potential investors:
A listing of some of the oil & gas private placements recently offered to investors:
If you believe you are a victim of stockbroker fraud or negligence, you may be able to recover losses through FINRA arbitration which is much quicker and less costly than litigation in court. Most cases are done on a contingent fee basis and are generally completed in a year or less.
If you have questions or complaints about losses in your brokerage account, call us for a no charge consultation.
Nationwide representation
Rex Securities Law
561 391 1900
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
Quest Capital Fires Broker For Borrowing $$ From Client
Quest Capital Strategies discharged registered representative George R. Hunt after a firm client claimed that Hunt had borrowed money at 12% interest and failed to repay it. In January 2013 FINRA suspended Hunt for one year and required that Hunt make restitution to the customer. FINRA alleged that he had borrowed $63,500 and had not repaid any of the debt.
In addition, FINRA alleged that Hunt was aware of the policies of the firm prohibiting borrowing money from customers and that Hunt had represented in annual compliance questionnaires that he had not borrowed any funds from customers. In addition, on separate occasions Hunt recommended that the customer liquidate securities in her account with the firm and use the proceeds to fund some of the loans made to Hunt. According to FINRA, Hunt had no reasonable basis for recommending these transactions.
Hunt previously worked for LPL Financial (Linsco Private Ledger) and A.G. Edwards & Sons, Inc.
If you have questions about your stock brokerage account, contact us for a no charge consultation.
Nationwide representation
Rex Securities Law
561 391 1900
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
Texas Certified Financial Planners Disciplined By CFP Board
According to their website, the "Certified Financial Planner (CFP) Board is a non-profit organization acting in the public interest by fostering professional standards in personal financial planning through its setting and enforcement of the education, examination, experience, ethics and other requirementments for CFP. "
The CFP Board can discipline those holding the CFP title in one of three ways:
The list below, taken from the CFP board disciplinary page of their website, is a historical record of individuals from Texas who have been disciplined by CFP Board and does not imply that any listed discipline is currently in force. To verify an individual's current certification status visit the CFP website here.
Revocations
Nicole Y. Allen (Dallas)
Charles I. Alvarez (Houston)
Jeffrey W. Baum (Lubbock)
Farrish E. Betton (Houston)
Texas Craig R. Brockman (Plano)
Mark W. Chuckran (Spring)
Jerrell J. Cosby (Fort Worth)
David Disraeli (Cedar Park)
Kathryn B. Farland (Plano)
Gordon Fiddes (Arlington)
A. Ken Flake, Sr. (Houston)
John J. Forsberg (Dallas)
Larry B. Groover (Dallas)
Douglas J. Hellie (San Antonio)
A. James Lynn (Dallas)
William H. Matthews (Dallas)
Jay C. Miles (Brenham/Chappell Hill)
Julia Carolyn Norton (San Antonio)
Solomon O. Onita (Houston)
Hymie Orlin (Houston)
Paul O. Ptak (Carrollton)
Lawrence L. Richter (San Antonio)
Terrence P. Riely (San Antonio)
Ralph R. Rush (El Paso)
Richard J. Suydam (Austin)
Travis D. Wakeley (Hurst)
Brian P. Troy (Keller)
Suspensions
Noor Amirali (Houston)
Matthew J. Anderson (Austin)
Brian W. Armstrong (Cleburne)
C. W. Biggs (Denton)
Russell K. Childs (Spring)
Thomas M. Couch Jr. (Houston)
Craig A. Curry (Houston)
Daniel P. Hensley (San Antonio)
Kyle Holland (Austin)
Carl E. Jones (Euless)
Texas Lance R. McCollum (Itasca)
Marianne Springer Miller (San Antonio)
Jeremy B. Stauss (Fort Worth)
John Howard Towers (Plano)
Roger D. Stevenson (San Benito)
Interim Suspension
Brian P. Troy (Keller)
Letters of Admonition
Douglas Wayne Blankenship (Addison)
Donald H. Christie (Waco)
Gerald S. Cohn (San Antonio)
Patricia Bisch Green (Houston)
Greer A. Kendall (Dallas)
MF "Mickey" Long, II (Plano)
Sidney J. Lorio (Bedford)
Sharon R. Luker (Plano)
Linnie Logan Phebus (Austin)
Lee A. Przybyla (San Antonio)
David L. Rhodes (Bryan)
If you have questions about your stock brokerage account, contact us for a no charge consultation.
Nationwide representation
Rex Securities Law
561 391 1900
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.