April 16, 2016 Comments (0) Blog, Current Investigations, Securities Fraud

Investor Alert: Richard “Rick” Poston Securities Fraud Investigation

Richard "Rick" Poston

Investment Losses with Richard “Rick” Poston

Have you suffered investment losses investing with Richard “Rick” Poston in Plano, Texas?  If so, the securities attorneys of The White Law Group may be able to help you recover your losses through a FINRA arbitration claim against the brokerage firm that employed Poston.

Rick Poston appears to have operated as Poston Financial Services.   However, according to his FINRA BrokerReport, Richard Poston was also a financial advisor registered with H. Beck, Inc. from March 2010 until December 2015 when he was reportedly terminated by H. Beck for failure “to fully cooperate with an internal investigation.”

On December 11, 2015, FINRA made a preliminary determination to recommend that disciplinary action be brought against Poston alleging potential violations of FINRA Rules 2010, 2150, and 3240.  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.

Poston’s FINRA BrokerCheck, available at brokercheck.finra.org, also states that Poston has also been the subject of at least three customer complaints alleging, among other things, that he made unsuitable investment recommendations.

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 https://www.whitesecuritieslaw.com.