Did you lose money investing with Thaddeus North (CRD# 2100909)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Thaddeus North. If you suffered losses investing with Thaddeus North, 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, Thaddeus North’s FINRA BrokerCheck Report contains the following:
Disclosure Events
2 Regulatory Event(s)
UPDATE 12/27/2019: Thaddeus James North (CRD #2100909, New Milford, Connecticut) December 27, 2019 – North appealed an SEC decision to the U.S. Court of Appeals for the District of Columbia Circuit. The SEC decision affirmed the NAC’s findings and imposition of a sanction. North was fined $5,000. The sanction was based on findings that North failed to enforce his member firm’s WSPs regarding the review of electronic communications. The findings stated that North assumed the responsibility for reviewing the firm’s electronic communications after he recognized red flags indicating that another principal was not conducting the required reviews. In an effort to comply with the WSPs, North conducted occasional, random reviews of electronic communications, but not enough to comply with the requirements of the firm’s WSPs. The sanction is not in effect pending review. (FINRA Case # 2012030527503)
Current and Previous Registrations
01/30/2013 – 12/28/2017 KUHNS BROTHERS SECURITIES CORPORATION (CRD#:47331) LAKEVILLE, CT
08/04/2011 – 01/29/2013 OCEAN CROSS CAPITAL MARKETS LLC (CRD#:156256) WESTPORT, CT
02/20/2008 – 08/16/2011 SOUTHRIDGE INVESTMENT GROUP LLC (CRD#:45531) RIDGEFIELD, CT
08/20/2008 – 10/15/2009 MAY DAVIS PARTNERS, LLC (CRD#:140988) NEW YORK, NY
02/23/2005 – 02/15/2008 WESTPORT RESOURCES INVESTMENT SERVICES, INC. (CRD#:24535) WESTPORT, CT
01/01/1998 – 01/10/2005 OPPENHEIMER & CO. INC. (CRD#:249) NEW YORK, NY
12/08/1997 – 12/15/1997 MURPHEY, MARSEILLES, SMITH & NAMMACK, INC. (CRD#:18032) 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 Thaddeus North 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.