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So far Richard Frankowski has created 573 blog entries.

Barclays To Pay $97M To Customers

Barclays Capital has reached a settlement with the SEC to refund over $97 million in advisory and mutual fund fees to customers the firm allegedly overcharged. The firm also agreed to set up a fund to repay advisory fees to the overcharged customers, the SEC said. This fund will consist of $49.8 million in disgorgement plus $13.8 million in interest, plus a $30 million penalty. Barclays with also refund $3.5 million to advisory clients who invested in third-party investment managers and investment strategies that underperformed while not being monitored. Money will additionally go to brokerage clients who were swayed toward more expensive mutual fund share classes. The SEC's order states that two Barclays' advisory programs charged fees to over two thousand customers for due diligence and monitoring of third-party investment managers and investment strategies when these services were not really being performed as purported. The SEC stated that Barclays additionally acquired extra mutual fund sales charges or fees from sixty-three brokerage clients [...]

By |May 18th, 2017|SEC|
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Kevin Graetz Suspended By FINRA

  Kevin Graetz has settled a FINRA complaint accusing him of failing to report federal and state tax liens against him amounting to over $1 million over nearly seven years. FINRA's Form U4 mandates registered representatives to disclose whether there are any unsatisfied judgments or liens against them. In amendments, Graetz filed to his form in February 2013, January 2014, and February 2014, he "inaccurately and misleadingly" stated that he was not subject to any unsatisfied tax liens, a FINRA order accepting the offer of settlement stated. Kevin Graetz was employed by Paulson Investment Company in New York until April 28. He updated his Form U4 to disclose the unsatisfied liens in May 2014, subsequent to FINRA finding the liens in the midst of a cycle examination of the firm. FINRA says Graetz's "failure to disclose the tax liens was willful in that he knew that he owed significant unpaid taxes and that he was subject to unsatisfied tax liens." Throughout [...]

By |May 17th, 2017|Uncategorized|
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Is it Acceptable to Sue Your Broker for Losses? 

Not every investment loss is the fault of your broker. Even the most upstanding, capable broker can put you in an unsuccessful investment. However, in some situations, investors lose substantial amounts of money due to the negligent or fraudulent acts of a broker. While you may be tempted to simply cut your losses and move on to the next investment opportunity, some situations involve legitimate claims that are best handled with the assistance of a skilled investment fraud law firm. First, it is important to understand the duty of care that the law imposes on a broker when investing client funds. The law only requires brokers to act in a manner that is suitable to a client’s individual financial needs. The difference between this and fiduciary duty lies in the level of commitment. A fiduciary duty requires the broker to place the client’s best interests even above his own. Therefore, even if an investment action will benefit the investor, but [...]

By |May 17th, 2017|Uncategorized|
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LPL May Pay $8M In New Hampshire REIT Suit

LPL Financial may ultimately repay $8 million to customers according to a settlement it reached with the New Hampshire Bureau of Securities regarding sales of non-traded real estate investment trusts. New Hampshire and LPL agreed to the settlement in December 2015. The case was initiated in reaction to a complaint from an elderly New Hampshire citizen who experienced massive losses after buying numerous of these REITs. LPL paid a fine of $750,000 and offered to pay remediation to any New Hampshire client who was sold a nontraded REIT since 2007 if the sale exceeded LPL's rules or product specific restrictions. As part of the agreement, LPL had to hire a third-party to go over its nontraded REIT sales to figure out whether they violated their own rules. This third-party recently finished its evaluation and decided the more than two hundred New Hampshire citizens were eligible for remediation of about eight million dollars, which is roughly $40,000 per customer. The $8 [...]

By |May 12th, 2017|Legal Matters|
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Disclaimer: Mr. Frankowski is licensed in Alabama,Florida and Texas. He is not licensed in any other state including Nevada and California. Mr. Frankowski has represented investors from all over the country in securities cases including: Alabama, California, Colorado, Florida, Georgia, Illinois, Kentucky, Louisiana, Mississippi, Nevada, New Mexico New York, North Carolina, Tennessee, Texas.