The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Ohio-based brokerage and advisory firm Primesolutions Securities (CRD# 46017).
Formed in 1998, Primesolutions Securities is headquartered in Cleveland, Ohio and registered in 33 US states and territories. Victor Lawrence Bull is Owner, Chief Compliance Officer, President, and Chief Executive Officer; Anne Marie Reinkober is Director and Vice President; Sonja Penny Vanwey is Financial Operations Principal.
According to the firm’s Financial Industry Regulatory Authority (FINRA) BrokerCheck report, Primesolutions Securities is the subject of two customer complaints that evolved into arbitration.
In 2014 a customer alleged Primesolutions Securities breached its fiduciary duty, misrepresented and omitted material facts related to an unsuitable investment, acted negligently, and failed to supervise its representatives. According to FINRA, an unnamed representative of the firm recommended the customer purchase shares of KGTA Petroleum, which the Securities and Exchange Commission (SEC) has described as a “sham oil trading business.” In September 2015 the complaint resulted in an award to the customer of more than $109,500.
In 2014 a customer alleged Primesolutions Securities breached its fiduciary duty, breached contract, failed to supervise its representatives, acted negligently, and recommended an unsuitable investment. In September 2015 the complaint resulted in an award to the customer of $94,741.
Both FINRA rules and federal securities law require brokerages and advisory firms like Primesolutions Securities to recommend only investments that are suitable for their clients: this means investments must be appropriate to a client’s investment goals, experience, age, and many other factors. Firms have an additional duty to supervise their representatives and ensure compliance with these regulations. Firms who fail to recommend suitable investments or supervise their representatives may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you have lost money investing with Primesolutions Securities, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be able to recover your losses. Fitapelli Kurta accepts all cases on contingency: we only receive payment if and when you collect 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