Man stuffing bills in suitHoward Barry Steinman of Coral Springs, Florida, a stockbroker currently registered with Wells Fargo Clearing Services, LLC, is the subject of a customer initiated investment related civil action brought in the Circuit Court of Broward, Florida, in which the customer requested more than $5,000.00 in damages supported by accusations that Steinman effected unauthorized transactions in the customer’s trust account. Civil Action No. PR-C-0003682 (Aug. 14, 2017).

Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Steinman has been referenced in five more customer initiated investment related disputes containing allegations of his misconduct while employed with Citigroup Global Markets Inc. and Salomon Smith Barney. Specifically, on May 21, 2002, a customer filed an investment related written complaint involving Steinman’s conduct, where the customer sought $9,455.00 in damages founded on accusations that mutual fund and equity investment transactions were not suitable for the customer in consideration of the customer’s conservative investment objectives.

Subsequently, on October 11, 2002, a customer filed an investment related written complaint regarding Steinman’s activities, alleging churning, misrepresentation and suitability pertaining to mutual fund and variable annuity transactions. On September 23, 2005, another customer filed an investment related written complaint concerning Steinman’s conduct, wherein the customer alleged that a variable life insurance policy had been misrepresented and that trades placed in the customer’s account were not suitable.

Then, on February 17, 2010, a customer brought an investment related written complaint involving Steinman’s activities, alleging that the customer’s variable annuity was misrepresented. Afterward, a customer initiated investment related arbitration claim regarding Steinman’s conduct was resolved for $14,999.00 in damages based upon allegations that Steinman made unsuitable investment recommendations to the customer concerning purchases of preferred stock in Fannie Mae and Freddie Mac. FINRA Arbitration No. 09-04162 (May 28, 2010).

The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source.

This posting and the information on our website is for general information purposes only. This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship. Attorney Advertisement. See Important Disclaimer

Guiliano Law Group

Our practice is limited to the representation of investors. We accept representation on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.

For more information concerning common claims against stockbrokers and investment professionals, please visit us at stockbrokerfraud.com

To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com

Tags: , ,

No comments yet.

Leave a Reply

Name (required)

Email (will not be published) (required)

Website