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Gary Robert Stremel, formerly of Citigroup Global Markets, Inc. in Houston, Texas, barred from FINRA for securities fraud violations.

Thursday, October 29th, 2009

FINRA recently announced that Gary Robert Stremel, formerly of Citigroup Global Markets, Inc. in Houston, Texas, has been barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Stremel consented to the entry of findings that he exercised discretion in a customer’s account without the customer’s written authorization or his firm’s (Citigroup) acceptance of the account as discretionary.

According to Gary Stremel’s FINRA Broker Report (CRD), FINRA’s investigation is not the first time that Stremel has been named in a claim related to securities fraud violations. His CRD indicates that he was also named in a customer complaint wherein the customer alleged that Stremel had recommended unsuitable investments.

Suitability is a common securities fraud claim. Financial advisors are required to follow the “Know Your Customer” Rule, and must recommend investments that are suitable in light of the customer’s age, investment experience, net worth, and investment goals.

Prior to working as a financial advisor with Citigroup Global Markets (n/k/a Morgan Stanley Smith Barney, Gary Stremel was a stockbroker for Dean Witter Reynolds, Inc.

If you have questions about investments you made with Gary Stremel or Citigroup Global Markets, or if you believe that you have been the victim of a securities fraud, the Law Offices of David A. Carter, P.A. may be able to help. The Law Offices of David A. Carter, P.A. is a South Florida securities fraud, securities arbitration, investor protection, and Chapter 7 bankruptcy law firm based in Boca Raton. David Carter is a securities attorney that reviews securities fraud cases throughout the country and Florida, including securities fraud cases in Galveston, San Antonio, Austin, New Orleans, Baton Rouge, Beaumont, and Shreveport. To contact the Law Offices of David A. Carter, P.A., please call 561-750-6999, or email us at contact@carterpa.com. For more information about the Law Offices of David A. Carter, P.A., you can also visit our website at www.carterpa.com.

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