Investor alleges misrepresentation of Bond Sales
A client recently claimed that bonds sold to him had been misrepresented. The client, who requests anonymity, alleges that the misrepresentation happened between 2015 and 2019 The bonds are worth a total amount of $115.834.50. Customer dispute is currently investigating the client’s claim.
Financial Advisor Under Scrutiny
The financial advisor in dispute is Mark Nasche, who was associated with Oppenheimer & Co. Inc. From April 2009 to February 2020. Nasche Asset Management LLC has been Nasche’s partner since May 2020. It’s important to note that the allegations involved transactions while Nasche was associated with Oppenheimer & Co. Inc.
Municipal debt securities are the bonds at issue in this dispute. They are considered safe investments that provide a regular income. But the client says that the risks of these bonds were misrepresented.
Oppenheimer & Co. Inc. History
Oppenheimer & Co. Inc.The company, which is registered under the CRD 249 number, has had a long history of legal and regulatory issues. The firm was the subject of many customer disputes and regulatory penalties.
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Here are some of the major previous disputes involving Oppenheimer & Co. Inc.:
- The firm settled allegations that it sold penny stocks improperly in 2015 by paying $20 million.
- In 2016, Oppenheimer & Co. Inc. was fined $700,000 for failing to supervise a broker who was accused of churning customer accounts.
- In 2018, the firm paid $4.7 million to settle a lawsuit involving accusations of overcharging clients.
Recovering losses with FINRA arbitration
Investors who have lost money due to broker misconduct, or misrepresentation, can seek compensation by using the Financial Industry Regulatory Authority’s (FINRA’s) arbitration process. This is a quicker, less expensive process than traditional litigation.
Investors can submit their cases to a panel arbitrators, who will render a binding ruling. The panel can award damages based on losses suffered, and in certain cases, punitive damage.
Investors who feel they are victims of broker misconduct, or misrepresentation, should seek legal advice in order to better understand their rights and remedies.
You can also read our conclusion.
The allegations made against Mark Nasche You can also find out more about the following: Oppenheimer & Co. Inc. They are serious and underscore the importance for transparency and honesty within the financial industry. Investors should be able to rely on their financial advisors or firms to provide them with accurate and clear information regarding the investments they’re considering.
This case will remind investors that they should remain vigilant and seek legal counsel if they feel they are victims of misrepresentation, or any other form of broker misconduct.