Investigation Update of Richard “Rick” Poston
After twenty years in the securities industry, Richard “Rick” Poston is no longer licensed as a broker or investment advisor. According to Broker Check (FINRA), on December 9, 2015, he was discharged from his previous employer, H. Beck (Plano, Texas) for failure to cooperate with an internal investigation.
He is currently under investigation by FINRA for potential violations of FINRA Rules 2010, 2150, 3240, and 8210. These allegations were included in Wells Notice Examination #20150455785. FINRA Rule 2010 discusses the rules relating to standards of commercial honor and principles of trade. FINRA Rule 2150 discusses the rules relating to the improper use of customers’ securities or funds. FINRA Rule 3240 discusses the rules relating to borrowing from or lending to customers.
In addition, there have been four customer complaints made against Poston, alleging mismanagement of investments dating back to 2002.
The White Law Group is investigating potential claims involving Poston’s investment management on behalf of clients. Specifically, 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.
Recovery of Investment Losses
If you suffered losses investing with Richard “Rick” Poston and would like a free consultation to discuss your litigation options, please call the securities attorneys of The White Law Group at 1-888-637-5510.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida. For more information on the firm, visit http://www.whitesecuritieslaw.com.