Did you lose money investing with Steven Moerdyk (CRD# 1421358)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Steven Moerdyk. If you suffered losses investing with Steven Moerdyk, 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 21, 2020, Steven Moerdyk’s FINRA BrokerCheck Report contains the following:
Disclosure Events
1 Customer Dispute(s)
3 Regulatory Event(s)
See FINRA Letter of Acceptance, Waiver and Consent No. 2018057318101
6 Judgment(s)/Lien(s)
UPDATE 10/21/2020: According to FINRA’s January 2019 Disciplinary Actions: “Steven Nicholas Moerdyk (CRD #1421358, Rockford, Michigan) November 29, 2018 – An AWC was issued in which Moerdyk was assessed a deferred fine of $5,000 and suspended from association with any FINRA member in all capacities for five months. Without admitting or denying the findings, Moerdyk consented to the sanctions and to the entry of findings that he willfully failed to timely amend his Form U4 to disclose 13 tax liens filed by the Internal Revenue Service and the state of Michigan totaling $564,209.71. The suspension is in effect from December 3, 2018, through May 2, 2019. (FINRA Case #2018057318101)”
Current and Previous Registrations
08/22/2014 – 10/26/2018 CENTER STREET SECURITIES, INC. (CRD#:26898) GRAND RAPIDS, MI
10/15/2009 – 08/22/2014 CENTER STREET SECURITIES, INC. (CRD#:26898) GRAND RAPIDS, MI
10/06/2005 – 11/03/2009 KALOS CAPITAL, INC. (CRD#:44337) GRAND RAPIDS, MI
11/02/2000 – 10/11/2005 USA FINANCIAL SECURITIES CORPORATION (CRD#:103857) ADA, MI
10/27/1998 – 11/13/2000 AMERITAS INVESTMENT CORP. (CRD#:14869) LINCOLN, NE
12/15/1994 – 11/30/1998 WMA SECURITIES, INC. (CRD#:32625) DULUTH, GA
06/23/1994 – 11/15/1994 PRUCO SECURITIES CORPORATION (CRD#:5685) NEWARK, NJ
04/15/1993 – 06/15/1994 LUTHERAN BROTHERHOOD SECURITIES CORP. (CRD#:4205) MINNEAPOLIS, MN
10/01/1985 – 11/26/1990 AMERIVEST SECURITIES CORPORATION (CRD#:16712)
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 Steven Moerdyk 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.