H.D. Vest Broker Fined/Suspended by Securities Regulators

H.D. Vest Broker Fined/Suspended by Securities Regulators

H.D. Vest Broker Fined/Suspended by Securities Regulators 150 150 Robert Rex, Esq.

June 8, 2015

Susan Cornwall  entered into a Letter of Acceptance Waiver and Consent (AWC)  with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that she accepted $38,000 from a customer intended to fund the opening of an IRA account. Cornwall lost the check and did not open the IRA account and did not tell the customer.

The customer later  requested a distribution from the IRA she believed had been set up and Cornwall funded the distribution from her business bank account. About six months following the time the customer believed her IRA account had been set up, Cornwall, without the customer’s knowledge or permission, completed a new account form, forged the customer signature on it and submitted it to her member firm together with $32,084 from Cornwall’s business bank account.

Cornwall   was fined $5,000 and suspended from association with any FINRA member in any capacity for 18 months.

Disciplinary Proceeding NO. 2014043726801

According to FINRA records, Cornwall was registered with H.D. Vest in Irving, Texas from 6/1996-10/2004 and then in Westward, MA, from 11/2004-4/2015.

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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Rex Securities Law

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