MAY 2017 UPDATE-In 4/2017 a FINRA arbitration panel in Cleveland, OH, awarded a couple over $1 million in FINRA Case #16-0575, Holmes v Wunderlich Securities and Ralph DeRose. Claimants had alleged that DeRose failed to sell holdings in their accounts at their request and over-concentrated their accounts in energy holdings.
ORIGINAL POST 6/2016
According to FINRA records, Ralph E. Derose, a stockbroker who works for Wunderlich Securities , discloses a pending customer dispute, two prior final customer disputes and a prior final regulatory event.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In pending FINRA Case 16-0575, a customer alleges damages of $3,000,000 for poor performance and that Derose did not follow instructions regarding liquidation of securities during the 10/2010-9/2015 time period. 4/2017-FINRA PANEL AWARDED $1M +, SEE UPDATE ABOVE.
Derose has been employed by Wunderlich since 10/2010. Prior to that he was with RBC Capital Markets.
If you have questions about an account handled by Ralph E. Derose , call for a no charge consultation.
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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