South Dakota Securities Attorney for Private Placement Investment Dispute
South Dakota has hundreds 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 misrepresent and mislead investors about investing in Private Placements of securities issued by small undercapitalized start-ups, their own companies and other dubious companies and engage in all kinds of stockbroker misconduct which violates Federal and South Dakota securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures.
For example, Jeffrey Schwebach of Sioux Falls, South Dakota submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he received a suspension for allegedly engaging in unapproved private securities transactions in violation of FINRA Rules 3280 and 2010.
Mr. Schwebach was registered with Independent Financial Group (IFG) as a General Securities Representative and Investment Company Products/Variable Contracts Representative from November 2010 through June 2018. According to FINRA’s findings, Jeffrey Schwebach sold $895,000 of Woodbridge promissory notes to 18 investors, 13 of whom were his firm’s customers and earned $19,534 in commissions. FINRA’s findings also stated that Mr. Schwebach never sought his firm’s approval to sell the promissory notes and instead disclosed Woodbridge as an outside business activity involving first position mortgages, not as private transactions. Additionally, FINRA found that Mr. Schwebach falsely stated on annual compliance questionnaires that he did not engage in unapproved private securities transactions.
Without admitting or denying FINRA’s allegations, Jeffrey Schwebach was ordered to pay a deferred disgorgement of commissions received in the amount of $19,534 and suspended from associating with any FINRA member in all capacities for eight months. The suspension was effective July 1, 2019 through February 29, 2020.Experienced Securities Lawyers for Investors with Private Placement Investment Claims in FINRA Arbitrations Throughout South Dakota and Nationwide
Are you a South Dakota investor who has suffered significant losses in your stock brokerage and investment accounts? Did your South Dakota stockbroker or investment advisor misrepresent or mislead you about an investment in a Private Placement or make an unsuitable recommendation that you invest in a Private Placement like GPB Capital Holdings or EquiAlt or otherwise mismanage your investment account? If so, you will need to hire an experienced, highly rated and nationally recognized FINRA securities arbitration law attorney who understands these highly complex and risky Private Placement investments. You need an experienced lawyer knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases and other complex legal issues.
By hiring a top rated and highly successful 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 is one of the best attorneys to recover your investment losses in Private Placements 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 Private Placement of securities 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 of Private Placements. Attorney Pearce and his staff represent investors throughout South Dakota, 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 attorneys who successfully handle Private Placement 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 a lawyer with over 40 years of experience and success in Private Placements and all kinds of securities law and investment disputes serving South Dakota citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.