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Robert Rex
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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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  • Broker Sanctioned Over Sale Of Oil & Gas Investments

    Benjamin Irby Cox, a former registered representative from Dallas, Texas, was fined $5,000 and suspended for one year by the Financial Industry Regulatory Authority (FINRA) for falsifying suitability information on contact forms he submitted to his employing firm.

    Cox, who cold called potential investors for oil and gas offerings for his member firm, was responsible for gathering and documenting suitability information about potential investors.. He was supposed to obtain the name of the investor as well as address , occupation and financial and investment experience of the potential investor. He was also supposed to determine the potential investor's interest in oil and gas investments and submit the information to his firm.

    The FINRA findings state that Cox falsified the suitability information on some contact forms he submitted to his firm and provided false information about the potential investor's address, occupation, financial status and/or investment experience.

    According to FINRA records Cox was registered with Red River Securities, LLC, of Plano, Texas from 3/2010-3/2012. Cox is not currently registered.

    If you have questions about your brokerage account or about investment losses, call to speak with an experienced securities attorney. No charge for initial 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.

    Mar 03 3:43 PM | Link | Comment!
  • Edward Jones & Co. Fined $750,000 For Cold Calling Violations

    On February 26, 2014, New Hampshire Bureau of Securities Regulation finalized an agreement with Edward D. Jones & Co. regarding alleged violations of telephone solicitation rules. The NH Securities regulators determined that Edward Jones violated New Hampshire securities laws when their brokers made solicitation (cold calls) calls to residents of the state whose phone numbers were registered on the National Do Not Call Registry.

    The New Hampshire regulators also determined that Edward Jones failed to properly train its agents in the area of telephone solicitation and failed to maintain proper supervisory procedures. To resolve the matter Edward Jones agreed to modify its policies and procedures in the area of telephone solicitation and to pay an administrative settlement of $750,000. According to the press release, which can be accessed here, this is one of the largest settlements in the area of telecommunications ever paid by a securities firm.

    This is one of four actions brought by the NH Securities Bureau. The other three remain pending.

    If you have questions about the way your brokerage account has been handled or about your remedies to recover losses due to the negligence or fraud of a stockbroker, call to discuss your legal rights with an experienced securities attorney. No charge for initial 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.

    Mar 03 11:07 AM | Link | Comment!
  • FINRA Fines Berthel Fisher $775,000 For Supervisory Deficiencies

    The Industry Regulatory Authority (FINRA) fined Berthel Fisher & Company Financial Services and its affiliate, Securities Management & Research of Marion, Ohio, $775,000 for supervisory deficiencies, including Berthel Fisher's failure to supervise the sale of non-traded real estate investment trusts (REITs) and leveraged and inverse exchange traded funds (ETFs).

    FINRA found that from January 2008 to December 2012,Berthel Fisher had inadequate supervisory systems and written supervisory procedures for the sales of alternative investments such as non-traded REITs, managed futures, oil & gas programs, equipment leasing programs and business development companies. It was also found that some investors were sold these investments in too high a level of concentration making them unsuitable.

    Follow this to read FINRA's February 24, 2014, press release on this sanction of Berthel Fisher.

    March 2014-Rex Securities Law files FINRA arbitration seeking damages from Berthel Fisher for sale of alternative investments to retired single lady from St. Paul,MN.

    If you have losses on alternative investments purchased fromBerthel Fisher, you may be able to recover all or a part of those losses. Call us to discuss your legal rights with an experienced securities attorney.

    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.

    Feb 24 5:35 PM | Link | Comment!
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