August19, 2015,
Walter Paul Priebe , entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he acted in a fiduciary capacity for various trusts without providing notice to his member firm and without obtaining approval.
According to the AWC, between 2001-2012, while registered with Investacorp in Ft. Lauderdale, FL, , Priebe engaged in outside business activities by serving as trustee for several trusts with clients of the firm. He failed to provide notice to Investacorp of his fiduciary roles and raise to obtain approval in violation of firm policies and in violation of NASD and FINRA rules.
Priebe was suspended for 6 months and assessed a fine of $25,000. According to FINRA records, Priebe was registered with Investacorp from 3/1989-7/2014 when he left to join Newbridge Securities Corporation.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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