Did you lose money investing with Solomon Krispeal (a/k/a David Krispeal) (CRD# 2735776)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Solomon Krispeal (a/k/a David Krispeal). If you suffered losses investing with Solomon Krispeal (a/k/a David Krispeal), 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 24, 2020, Solomon Krispeal (a/k/a David Krispeal)’s FINRA BrokerCheck Report contains the following:
Not currently registered as broker.
7 Customer Dispute(s)
1 Regulatory Event(s)
2 Criminal Disclosure(s)
Current and Previous Registrations
01/20/2016 – 06/04/2019 PHX FINANCIAL, INC. (CRD#:144403) Hauppauge, NY
03/13/2013 – 02/09/2016 LEGEND SECURITIES, INC. (CRD#:44952) JERRICHO, NY
FINRA expelled the firm on 04/17/2017
04/19/2012 – 03/04/2013 AEGIS CAPITAL CORP. (CRD#:15007) NEW YORK, NY
01/11/2008 – 04/16/2012 JOHN THOMAS FINANCIAL (CRD#:40982) NEW YORK, NY
FINRA expelled the firm on 10/31/2013
07/25/2007 – 01/09/2008 NEWBRIDGE SECURITIES CORPORATION (CRD#:104065) WOODBURY, NY
08/15/2006 – 07/25/2007 POINTE CAPITAL, INC. (CRD#:112097) BETHPAGE, NY
05/01/2006 – 08/24/2006 GUNNALLEN FINANCIAL, INC (CRD#:17609) PLAINVIEW, NY
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.