Did you lose money investing with Christopher Hellman (a/k/a Chris Hellman) (CRD# 6584084)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Christopher Hellman (a/k/a Chris Hellman). If you suffered losses investing with Christopher Hellman (a/k/a Chris Hellman), then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
As of October 12, 2020, Christopher Hellman (a/k/a Chris Hellman)’s FINRA BrokerCheck Report contains the following:
BARRED: FINRA has barred this individual from acting as a broker or otherwise associating with a broker-dealer firm.
3 Customer Dispute(s)
1 Regulatory Event(s)
1 Employment Separation After Allegations
4 Financial Disclosure(s)
UPDATE 10/12/2020: According to FINRA’s February 2019 Disciplinary Actions: “Christopher Charles Hellman (CRD #6584084, Plantation, Florida) December 13, 2018 – An AWC was issued in which Hellman was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Hellman consented to the sanction and to the entry of findings that he failed to provide FINRA with requested documents and information during its investigation initiated after receiving a Form U5 filed by his member firm that terminated his registration for conduct including failure to adhere to firm standards regarding selling away and failure to fully disclose participation in outside business activities. (FINRA Case #2018060168801)”
Current and Previous Registrations
09/21/2016 – 10/16/2018 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED (CRD#:7691) BOCA RATON, FL
01/11/2016 – 08/31/2016 FMSBONDS, INC. (CRD#:7793) NORTH MIAMI BEACH, FL
Due Diligence Requirement
FINRA requires broker’s to conduct due diligence on investments and to conduct a suitability analysis when recommending securities to a customer that takes into account the customer’s knowledge and experience. FINRA Rule 2111(a) states that “a member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile. A customer’s investment profile includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance, and any other information the customer may disclose to the member or associated person in connection with such recommendation.”
Rule 2111 is composed of three main obligations: reasonable-basis suitability, customer-specific suitability, and quantitative suitability. Brokers and the brokerage firms they work for that fail to conduct adequate due diligence on investments they recommend or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.
Request a Free Consultation with a Securities Attorney
This information is all publicly available and is being provided to you by Galvin Legal, PLLC.
Galvin Legal, PLLC is a national securities arbitration, securities mediation, securities litigation, securities fraud, securities regulation and compliance, and investor protection law practice. For more information on Galvin Legal, PLLC and its representation of investors, please visit www.galvinlegal.com or call 1-800-405-5117.