DALE ERBIN TIMMERMANN, according to FINRA’s BrokerCheck, is currently registered as a broker with MOLONEY SECURITIES CO INC of Vandalia, Illinois. Timmermann has been with MOLONEY SECURITIES since January 17, 2012.
According to FINRA’s BrokerCheck, available to the public on FINRA’s website, DALE ERBIN TIMMERMANN has been in the securities industry for 31 years and has been listed with 3 firms. Timmermann has 3 disclosures on his FINRA CRD report. One of the disclosures is a “Regulatory” dated February 24, 2000, alleging, “03/07/00GS: NASD RULES 1120(A) AND 2110 - RESPONDENT EXECUTED SECURITIES TRANSACTIONS FOR PUBLIC CUSTOMERS DESPITE THE FACT THAT HIS SECURITIES REGISTRATION HAD BECOME INACTIVE BASED ON HIS FAILURE TO COMPLETE TIMELY THE REGULATORY ELEMENT OF THE CONTINUING EDUCATION PROGRAM.” This Regulatory was initiated by THE NATIONAL ASSOCIATION OF SECURITIES DEALERS. Timmermann was fined $1,200.00.
DALE ERBIN TIMMERMANN, according to FINRA’s BrokerCheck, has 2 “Customer Disputes.” There is a dispute dated August 22, 2022, with the allegations of, “Suitability/negligence.” The dispute was settled and the settlement amount was $11,000.00. There is another pending “Customer Dispute” filed against DALE ERBIN TIMMERMANN dated October 4, 2024. The allegations in this case are, “Suitability/negligence. 2014-2018.” The damage amount requested is $275,000.00. Timmermann denies all allegations.
According to FINRA, suitability obligations are critical to ensuring investor protection and promoting fair dealings with clients and ethical sales practices. FINRA Rule 2111 governs general suitability obligations. FINRA Rule 2111 requires that a firm or associated person have a reasonable basis to believe a recommended transaction or investment strategy involving security or securities is suitable for the client. This is based on the information obtained through reasonable diligence of the firm or associated person to determine the client’s investment profile. The rule states that the client’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 and risk tolerance,” among other information. According to FINRA, the lack of such an understanding itself violates the suitability rule.
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