Investigation Update – Rick Poston – H. Beck – Plano, TX
After twenty years in the securities industry, 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.
In addition, there have been five customer complaints made against Poston, alleging mismanagement of investments dating back to 2002.
Update – There is one pending customer complaint listed on Poston’s broker report dated July 2017 stating: “Registered representative recommended unsuitably over-concentrated investments in high risk, illiquid non-traded REITs and BDCs.”
According to the report, Poston is not currently registered as a broker.
How to Recover Investment Losses
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 while he was employed by H. Beck, the firm may be held responsible for any losses in a FINRA arbitration claim against the company.
If you suffered losses investing with 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, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee. For more information on the firm, visit https://www.whitesecuritieslaw.com.