Pennsylvania Securities Account Churning Attorney
Pennsylvania has thousands of stock brokerage firms and investment advisory offices. With so many stock brokerage firms and investment advisory offices, comes the potential for their stockbrokers, financial advisors, and other representatives to excessively trade or churn customer accounts to generate commissions and engage in all kinds of stockbroker misconduct which violates Federal and Pennsylvania securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures.
For example, Craig Gary Langweiler, a Philadelphia, Pennsylvania-based registered representative formerly employed with Meyers Associates, L.P. n/k/a Windsor Street Capital, was named a Respondent in a Financial Industry Regulatory Authority (FINRA) complaint alleging that he generated high commissions for himself and substantial losses for his customer by excessively trading the account of his customer.
FINRA’s findings alleged Mr. Langweiler executed 257 trades in his customer’s account during the relevant period, a mere 193 days. FINRA found that Mr. Langweiler generated approximately $27,092 in commissions, while his customer incurred losses in excess of $33,000. FINRA also found that Mr. Langweiler exercised control over the customer’s account through his use of discretion, for which he neither sought nor received written approval.
According to FINRA’s complaint, Mr. Langweiler was charged with violating FINRA Rule 2111, which governs suitability, stating that a registered representative with control over a customer’s account must have “a reasonable basis for believing that a series of recommended transactions, even if suitable when viewed in isolation, are not excessive and unsuitable for the customer when taken together in light of the customer’s profile.” Additionally, Mr. Langweiler was charged with violating NASD Rule 2510(b) and FINRA Rule 2010, for his alleged unauthorized discretionary trading.Experienced Lawyers Who Handle Securities Churning Claims In FINRA Arbitrations Throughout Pennsylvania and Nationwide
Are you a Pennsylvania investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Pennsylvania stockbroker or investment advisor excessively trade or churn or otherwise mismanage your investment account? If so, you will need to have representation from an experienced, highly-rated and nationally recognized FINRA arbitration securities churning law attorney—an attorney who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases as well as other complex legal issues.
By hiring a top rated attorney like Robert Wayne Pearce with over 40 years of experience practicing securities law on both sides of the table in FINRA arbitration proceedings, you will clearly see that Attorney Pearce doesn’t just handle cases—he aggressively represents investors and one of the best lawyers to recover your investment losses for excessively trading or churning customer accounts to generate commissions and all types of stockbroker misconduct in FINRA arbitration proceedings!
At The Law Offices of Robert Wayne Pearce, P.A., we represent investors in all kinds of securities law and investment disputes in FINRA arbitration and mediation proceedings. We handle a wide range of practice areas such as fraud and misrepresentation, breach of fiduciary duty, failure to supervise, and unsuitable recommendations. Attorney Pearce and his staff represent investors throughout Pennsylvania, and across the United States on a CONTINGENCY FEE basis, which means you pay nothing - NO FEES-NO COSTS - unless we put money in your pocket after receiving a settlement or FINRA arbitration award.
The Law Offices of Robert Wayne Pearce, P.A. are highly experienced lawyers who successfully handle churning cases and other securities law matters and investment disputes in FINRA arbitration proceedings, and who work tirelessly to secure the best possible result for you and your case. For dedicated representation by an attorney with over 40 years of experience and success in churning cases and all kinds of securities law and investment disputes serving Pennsylvania citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.