Did you lose money investing with Devin Wicker (CRD# 4228250)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Devin Wicker. If you suffered losses investing with Devin Wicker, then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
As of October 1, 2020, Devin Wicker’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.
Disclosure Events
1 Customer Dispute(s)
2 Regulatory Event(s)
See FINRA Disciplinary Proceeding No. 2016052104101 Complaint
See FINRA Disciplinary Proceeding No. 2016052104101 OHO Decision
2 Employment Separation After Allegations
UPDATE 10/01/2020: According to FINRA’s June 2019 Disciplinary Actions: “Devin Lamarr Wicker (CRD #4228250, New York, New York) April 12, 2019 – Wicker appealed an OHO decision to the NAC. Wicker was barred from association with any FINRA member in all capacities and ordered to pay $50,000, plus interest, in restitution to a customer. The sanctions were based on findings that Wicker converted and misused $50,000 of an investment-banking customer’s funds. The findings stated that the customer engaged Wicker’s member firm to serve as the managing underwriter for its Initial Public Offer (IPO). Wicker, the firm’s majority owner, CEO, CCO and chief financial officer, directed an individual who was associated with his firm to invoice the customer for the funds and the customer wired those funds to the firm for the sole purpose of paying for a law firm’s retainer. Wicker did not segregate or reserve those customer funds but instead commingled them with the firm’s operating capital. Wicker controlled the firm’s operating account and made the decision to use those funds for a purpose other than to pay the law firm, to benefit the firm. The sanctions are not in effect pending review. (FINRA Case #2016052104101 Complaint and OHO Decision)
Current and Previous Registrations
11/30/2017 – 09/20/2018 J.V.B. FINANCIAL GROUP, LLC (CRD#:149758) NEW YORK, NY
07/01/2016 – 05/30/2017 TRIBAL CAPITAL MARKETS, LLC (CRD#:38901) SARASOTA, FL
06/14/2012 – 12/22/2016 BONWICK CAPITAL PARTNERS, LLC (CRD#:156469) NEW YORK, NY
09/15/2010 – 06/18/2012 ODEON CAPITAL GROUP LLC (CRD#:148493) NEW YORK, NY
10/24/2000 – 03/30/2010 GOLDMAN, SACHS & CO. (CRD#:361) NEW YORK, NY
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
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.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Request a Free Consultation with a Securities Attorney
If you suffered losses investing with Devin Wicker and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
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.
