Did you suffer investment losses with Dominion Investor Services (CRD# 21548) (SEC# 88-39029)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Dominion Investor Services. If you suffered losses investing with Dominion Investor Services, then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
As of May 5, 2020, Dominion Investor Services’s FINRA BrokerCheck Report contains the following:
1 Regulatory Event Disclosures
1 Arbitration Disclosures
Main Office Location
9000 HIGHWAY 2147 WEST
HORSESHOE BAY, TX 78657
P. O. BOX 4768
HORSESHOE BAY, TX 78657
Business Telephone Number
Dominion Investor Services’s Direct Owners and Executive Officers
DOMINION FINANCIAL SERVICES, INC., PARENT/SHAREHOLDER
ARCHAMBO, MARK WAYNE (CRD#:1673061), DIRECTOR, CHAIRMAN
CRISLER, SHIRLEY MAE (CRD#:2118069), IP, SR VICE PRESIDENT, DIRECTOR, CORPORATE SECRETARY, CHIEF COMPLIANCE OFFICER
FENCL, DANIEL DUANE (CRD#:1430404), DIRECTOR
SHROPSHIRE, CAMERON EDWARD III (CRD#:2233524), VICE PRESIDENT, CHIEF FINANCIAL OFFICER, FINOP
SMITH, RANDALL WARREN (CRD#:2947453), VICE PRESIDENT, GP
SMITH, RIX CARLTON (CRD#:1061442), PRESIDENT, CEO, DIRECTOR, GP, MP,OP
Due Diligence Requirement
FINRA requires broker-dealers 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.”
Broker-Dealers 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.
Rule 2111 is composed of three main obligations: reasonable-basis suitability, customer-specific suitability, and quantitative suitability.
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Formerly Known As, Aliases, and Affiliates
PERFORMAX INVESTMENT SERVICES, INC., REED SECURITIES COMPANY, INC., PERFORMAX INVESTMENT SERVICES, INC., REED SECURITIES COMPANY, INC.