Whitehall-Parker Securities: 1 Regulatory Complaint
Public records published by the Financial Industry Regulatory Authority (FINRA) and accessed on June 25, 2019 indicate that California-based brokerage and advisory firm Whitehall-Parker Securities has received a regulatory sanction in connection to alleged rule violations. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Whitehall-Parker Securities (CRD# 10608).
Established in California in 1982, Whitehall-Parker Securities is headquartered in San Francisco, California and registered with 14 US states and territories: Arizona, California, Colorado, Connecticut, Idaho, Nevada, New Mexico, New York, North Carolina, Oklahoma, Oregon, Texas, Utah, and Washington. Organized as a corporation, the firm’s fiscal year ends in August. According to its BrokerCheck report, Whitehall-Parker Securities has received 1 regulatory sanction.
In 1986 the National Association of Securities Dealers sanctioned Whitehall-Parker Securities in connection to allegations it failed to comply with the authority’s formal written requests for the firm’s submission of quarterly FOCUS reports. The firm was issued a suspension that lifted when the reports in question were filed.
FINRA records also show that current or former firm representatives have received customer complaints and FINRA sanctions. One former representative, for instance, was sanctioned in connection to allegations that while employed at Whitehall-Parker Securities and Wells Fargo Investments, forged the signature of an elderly customer on a form reflecting a mutual fund exchange, and further that he “incorrectly identified the trade as unsolicited” while making untrue statements on the form. FINRA’s findings in that action reflect that the representative admitted forging the customer’s signature, after which he was terminated from his firm and became affiliated with another firm. FINRA’s findings state that upon his new association, he falsely represented on a disclosure form that he denied the forgery allegation, representing instead “that he did not sign the switching letter in question, and that he only acted on the expressed authorization of the client,” despite admitting otherwise later. In connection with these findings, that representative was suspended and issued a fine of $10,000.
Another current firm representative has received ten customer complaints and was recently sanctioned by the California Department of Business Oversight. That sanction alleged that he engaged in the sales of “real estate based loan instruments” through an entity, Woodbridge Group, which claimed the instruments were not securities, but which the California Department of Business Oversight found were in fact securities. In connection with these findings, the representative was ordered to cease and desist selling unregistered securities in the state. That representative has also received a pending customer complaint alleging he misrepresented material facts regarding an investment in life insurance proceeds, in which the customer is seeking $100,000 in damages; Whitehall-Parker Securities notes on the disclosure that it is not a party to that litigation, however.
If you or someone you know has lost money investing with Whitehall-Parker Securities, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.