The White Law Group announces the launching of an investigation involving Plano, Texas financial advisor Richard "Rick" Poston.
Rick Poston appears to have operated as Poston Financial Services. See http://rickposton.com/ However, according to his FINRA BrokerReport, Richard Poston was also a financial advisor registered with H. Beck, Inc. from 03/2010 - 12/2015.
In December 2015, Poston was terminated by H. Beck for failure "to fully cooperate with an internal investigation." On December 11, 2015, FINRA made a preliminary determination to recommend that disciplinary action be brought against Poston alleging potential violations of FINRA Rules 2010, 2150, and 3240. FINRA Rules 2010, 2150, and 3240 relate to s tandards of commercial honor and principles of trade, improper use of customers' securities or funds, and borrowing from or lending to customers.
Poston's FINRA BrokerCheck also states that Poston has also been the subject of at least three customer complaints alleging, among other things, that he made unsuitable investment recommendations.
The White Law Group is investigating the liability that H. Beck may have for failure to properly supervise Poston. Brokerage firms are required to supervise their agents to ensure that they are complying with all applicable investment rules. To the extent that Poston violated FINRA Rules 2010, 2150, and 3240 while he was employed by H. Beck, the firm may be held responsible for any losses in a FINRA arbitration claim against the company.
For more information on The White Law Group's investigation, visit http://www.whitesecuritieslaw.com/2016/04/16/investor-alert-richard-rick-poston-securities-fraud-investigation/.
For a free consultation with a securities attorney, please call the securities attorneys of The White Law Group at 1-888-637-5510.