Public records provided by the Financial Industry Regulatory Authority (FINRA) on November 10, 2016 indicate that Texas-based Shearson Financial Services broker Richard Hollan is the subject of a FINRA investigation. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Hollan (CRD# 1401016).
Richard Hollan has spent thirty years in the securities industry and has been registered with Shearson Financial Services in Houston, Texas since 2007. Previous registrations include Institutional Capital Management in Houston, Texas; Suncoast Capital Group in Fort Lauderdale, Florida; Duncan-Williams in Memphis, Tennessee; Lehwald Orosey & Pepe in Boca Raton, Florida; Meridian Securities; Marcus Stowell & Beye in Fort Lauderdale, Florida; Registered Securities Corporation of Texas; Government Securities Corporation; Marcus Stowell & Beye Government Services in Fort Lauderdale, Florida; and Marcus Stowell & Beye in Fort Lauderdale, Florida. He is a registered broker with four US states: California, Florida, Texas, and Wyoming.
According to his BrokerCheck report, Richard Hollan is the subject of a FINRA investigation.
In July 2016, Richard Hollan was named in a FINRA investigation into the following allegations:
“During the time period between June 10, 2013 through September 10, 2015, Richard Hollan mismarked 132 order tickets in five customers’ accounts as unsolicited orders, when in fact, the trades were solicited, causing Shearson Financial Services to maintain inaccurate books and records. As a result of the foregoing, Richard Hollan violated FINRA Rules 4511(a) and 2010.”
For context, FINRA Rule 2010 states that “A member, in the conduct of its business, shall observe high standards of commercial honor and just and equitable principles of trade.” FINRA Rule 4511(a) states that “Members shall make and preserve books and records as required under the FINRA rules, the Exchange Act and the applicable Exchange Act rules.” The investigation remains pending.
If you or someone you know has a complaint regarding Richard Hollan, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup losses. Fitapelli Kurta accepts every case on a contingency basis: we only get paid 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.