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Broker Complaints: Western International Securities (CRD# 39262)

The securities and investment fraud law firm Fitapelli Kurta is investigating allegations of misconduct against Colorado-based brokerage and advisory firm Western International Securities (CRD# 39262).

Formed in Colorado in 1995, Western International Securities is headquartered in Pasadena, California and registered with 51 US states and territories. Donald Bizub is Chief Executive Officer; Richard Gilliland is Vice President; Bradley Kaiser is Chief Compliance Officer; Andrew Kuo is Managing Director; and Wendy Rea is Senior Managing Director. The firm’s parent company is Concept Brokerage Holding Corporation.

According to the firm’s BrokerCheck report, Western International Securities is the subject of six regulatory sanctions and four customer complaints that evolved into arbitration.

In 2014 the Financial Industry Regulatory Authority (FINRA) sanctioned Western International Securities following allegations the firm failed to enforce written supervisory procedures reasonably designed to achieve compliance with regulations related to the supervision of a registered representative’s private securities transactions involving a foreign currency trading program. Western International Securities was censured and issued a fine of $80,000.

In 2014 a customer alleged Western International Securities breached its fiduciary duty, misrepresented and omitted material facts related to an investment, churned an account, executed unauthorized trades, breached contract, made unsuitable investment recommendations, and acted negligently. The complaint resulted in an award to the customer of more than $200,000.

In 2013 a customer alleged Western International Securities breached its fiduciary duty, churned an account, misrepresented and omitted material facts, executed unauthorized trades, breached contract, failed to supervise, acted negligently, and made unsuitable investment recommendations. The complaint resulted in an award to the customer of more than $100,200.

In 2008 FINRA sanctioned Western International Securities following allegations the firm purchased or sold corporate bonds from or to customers but failed to do so at a fair price. Western International Securities was censured and issued a fine of $12,500.

In 2006 the National Association of Securities Dealers (NASD) sanctioned Western International Securities following allegations the firm incorrectly reported markups as commissions. The firm was censured and issued a fine of $8,000.

In 2004 a customer alleged Western International Securities engaged in manipulation, misrepresented material facts related to an investment, failed to supervise, and recommended an unsuitable investment. The complaint resulted in an award to the customer of $75,129.

If you have lost money investing with Western International Securities, you may be entitled to recover lost funds. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: Fitapelli Kurta only gets paid if and when you recover 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.