Englewood Cliffs, New Jersey
According to FINRA records, Richard Lim, a stockbroker who was formerly employed by Caldwell International Securities, discloses a pending regulatory investigation and 3 presently outstanding judgement/liens .
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 FINRA Case 2014039091903, FINRA alleges that Lim and other representatives of his firm made unsuitable recommendations of an active trading investment strategy to their customers and that the firm is liable for the unsuitable recommendations of that strategy under the doctrine of respondeat superior.
The complaint alleges that Lim made recommendations despite the fact he and the other representatives failed to understand the risks of the investment strategy or the impact of the staggering commissions and fees generated would have on the customer accounts. The complaint further alleges that Lim willfully failed to timely update FINRA records to disclose judgments against him. This matter is currently pending.
Lim was employed by Caldwell International Securities from 4/2011-5/2016. Prior to that he was registered with SWS Financial Services and before that, World Equity Group.
If you have questions about an account handled by Richard Lim or questions about your account at Caldwell International Securities, 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.
Florida-561 391 1900