Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on December 2, 2016 indicate that Texas-based IMS Securities broker/adviser Steven Shirley is the subject of a pending customer dispute. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Shirley (CRD# 3233105).
Steven Shirley has spent fourteen years in the securities industry and has been registered with IMS Securities in Friendswood, Texas since 2002. He has no previous registrations. He is a registered broker and investment adviser with eleven US states and territories: Arkansas, California, Colorado, Florida, Georgia, Louisiana, Michigan, North Carolina, Oklahoma, Texas, and Washington.
According to his BrokerCheck report, Steven Shirley has received one pending customer complaint and one closed customer complaint.
In October 2016 a customer alleged Steven Shirley, while employed at IMS Securities, failed to conduct adequate due diligence, acted negligently, and breached his fiduciary duty. The customer is seeking $100,000 in damages in the pending complaint.
In 2011 a customer alleged Steven Shirley, while employed at IMS Securities, never sent him a variable annuity contract. The customer sought $125,000 in damages in the complaint, which was denied.
According to FINRA rules and federal securities law, investment representatives like Steven Shirley are beholden to a fiduciary duty that requires them to act only in the best interests of their clients. This means, for instance, that they can only recommend suitable investments that take into account the client’s investment goals, experience, and risk tolerance. Firms are not permitted to misrepresent or omit material facts related to an investment, as this might cause a customer to invest unsuitably. Brokers and firms who violate applicable rules and regulations may be subject to disciplinary action from FINRA, the Securities and Exchange Commission, or state authorities.
If you have complaints regarding Steven Shirley, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recoup your losses. All cases are taken on contingency: we only receive payment if and when you recover money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.