Did you lose money investing with Lila Stokkeland (CRD# 2872259)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Lila Stokkeland. If you suffered losses investing with Lila Stokkeland, 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 May 24, 2020, Lila Stokkeland’s FINRA BrokerCheck Report contains the following:
SUSPENDED: FINRA has suspended this individual from acting as a broker. Please see the detailed report for more information
Disclosure Events
2 Customer Dispute(s)
1 Regulatory Event(s)
1 Employment Separation After Allegations
UPDATE 1/29/2020: Lila Marie Stokkeland (CRD #2872259, Jamestown, North Dakota) January 29, 2020 – An AWC was issued in which Stokkeland was assessed a deferred fine of $5,000 and suspended from association with any FINRA member in all capacities for three months. Without admitting or denying the findings, Stokkeland consented to the sanctions and to the entry of findings that she electronically affixed customer signatures to account opening documents she submitted to her member firm. The findings stated that Stokkeland provided her own email address and phone number on the account opening applications, thereby allowing her to authenticate the account opening documents to complete the account opening process. The findings also stated that Stokkeland caused her firm to maintain inaccurate books and records. The suspension is in effect from February 3, 2020, through May 2, 2020. (FINRA Case # 2018059219401)
Current and Previous Registrations
02/26/2009 – 07/13/2018 MUTUAL OF OMAHA INVESTOR SERVICES, INC. (CRD#:611) JAMESTOWN, ND
07/01/2002 – 02/26/2009 THRIVENT INVESTMENT MANAGEMENT INC. (CRD#:18387) JAMESTOWN, ND
07/16/1997 – 07/01/2002 LUTHERAN BROTHERHOOD SECURITIES CORP. (CRD#:4205) MINNEAPOLIS, MN
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 Lila Stokkeland 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.
