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Broker Complaints: Regal Securities, Inc. (CRD# 7297)

The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Illinois-based brokerage Regal Securities, Incorporated.

Formed in Illinois in 1977, Regal Securities is headquartered in Glenview, Illinois and registered in 53 US states. George Bokios is Chief Executive Officer, Chairman of the Board, and Chief Financial Officer; Shawn Everett Herrin is President; William Joseph Montgomery is Interim Chief Compliance Officer; Eugenia Theodora Bokios is Senior Vice President and General Counsel; Skaiste Asksomitaite is Vice President and Financial Operations Principal. Regal Securities is a registered brokerage in 53 US states and territories.

According to its BrokerCheck report, Regal Securities is the subject of seven regulatory sanctions and four customer complaints that evolved into arbitration.

In 2014 the Financial Industry Regulatory Authority (FINRA) sanctioned Regal Securities following allegations the firm failed to multiple occasions to timely amend a registered representative’s records to disclose several civil judgments and a tax lien. Regal Securities was censured and issued a fine of $12,500.

In 2013 FINRA sanctioned Regal Securities following allegations the firm failed to deliver, by the required date, official documents to customers who purchased new municipal securities. Regal Securities was censured and issued a fine of $25,000.

In 2013 a customer alleged Regal Securities breached its fiduciary duty and acted negligently. The complaint resulted in an award to the customer of more than $3,300.

In 2012 FINRA sanctioned Regal Securities failed to sell or buy corporate bonds, to or from a customer, at a fair price. Regal Securities was censured and issued a fine of $13,500.

In 2011 FINRA sanctioned Regal Securities following allegations the firm allowed its representatives to use the firm’s inventory accounts for personal trades, which led to a representative fraudulently depriving customers of best executions on 18 separate occasions. Regal Securities was censured and issued a fine of $15,000.

In 2011 a customer alleged Regal Securities breached its fiduciary duty, churned the customer’s account, executed unauthorized trades, misrepresented and omitted material facts related to an investment, made margin calls, failed to supervise its representatives, acted negligently, failed to execute transactions, and breached contract. The complaint resulted in an award to the customer of more than $63,600.

In 2008 a customer alleged Regal Securities breached its fiduciary duty, executed unauthorized trades, breached contract, and recommended unsuitable investments. The complaint resulted in an award to the customer of $172,864.

In 2001 a customer alleged Regal Securities executed unauthorized trades, breached contract, acted negligently, and made margin calls. The complaint resulted in an award to the customer of $9,225.

If you or someone you know has lost money investing with Regal Securities, you may be entitled to recover your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency, which means we only get paid if and when you recover money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.