Broker Dennis Mehringer Barred For Refusing To Testify About Investment Advice
Investor Alert! The Financial Industry Regulatory Authority (“FINRA”) reports alarming allegations of improprieties by Western International Securities broker Dennis Albert Mehringer Jr. (CRD#: 722569, Pasadena, California). Notably, no less than 11 clients contested his sales practices. Not only that, but FINRA barred Mehringer for not complying with its investigation about his investment recommendations. Overall, these disclosures suggest that Mehringer, who worked for Western International Securities from 2009 to 2018, executed unauthorized trades, misrepresented investment information and breached a fiduciary duty to his clients. Here’s what you need to know:
FINRA Bars Dennis Mehringer For Stonewalling Investigation
Apparently, FINRA issued Acceptance, Waiver and Consent (“AWC”) #: 2019061994701 on October 18, 2019 barring Dennis Mehringer for violating Rules 8210 and 2010. It appears that FINRA was investigating if Mehringer made unsuitable recommendations. It is possible that Mehringer failed to consider his client’s investment circumstances or risk tolerances when he was advising them. The AWC’s findings show that in September 2019, FINRA asked him to testify. However, Mehringer refused. Therefore, FINRA prohibited him from maintaining any association with any FINRA member in any capacity.
Mehringer Allegedly Makes Unsuitable Trades In Western International Client’s Account
Evidently, on May 22, 2019, a Western International Securities client filed FINRA Arbitration #: 19-01253 about Dennis Mehringer. First of all, the client alleged that Mehringer effected unsuitable trades in the client’s account. Secondly, the securities broker supposedly acted deceptively, misrepresenting information relating to the client’s investments. Thirdly, the client suggested that Mehringer made unauthorized trades in the client’s account. Finally, it appears that the securities broker possibly breached a fiduciary duty that he owed to the client. Because of this, the client purportedly sustained losses on corporate bonds, stocks and mutual funds. Therefore, on December 11, 2019, Western International Securities settled this matter by paying the client $225,000.
Western International Securities Client Suggests Dennis Mehringer Breached Fiduciary Duty
Apparently, a client of Western International Securities contested Dennis Mehringer’s sales practices by filing FINRA Arbitration #: 19-00667 on March 7, 2019. Allegedly, Mehringer effected unsuitable trades in the client’s account. It seems that these transactions conflicted with the client’s risk tolerance, investment objectives or overall circumstances. Allegedly, the securities broker also breached a fiduciary duty that he owed to the client. It appears that the common or preferred stocks and mutual funds which Mehringer sold or recommended had caused the client to sustain losses. Therefore, the client seeks compensatory relief from Western International Securities or Mehringer in the amount of $1,761,558 in this ongoing matter.
Dennis Mehringer Allegedly Gives Bad Advice To Western International Securities Client
Evidently, on March 10, 2017, a Western International Securities client filed FINRA Arbitration #: 17-00123 concerning Dennis Mehringer. Supposedly, Mehringer recommended bad investments to the client since these investments failed to align with the client’s investment profile. As a result, the client experienced losses on promissory notes. Consequently, on April 4, 2018, Western International Securities settled this dispute by paying the client $45,000.
Did Western International Securities Broker Dennis Mehringer Sell You Bad Investments?
Lars Soreide Highest Ethical Standard Award 2018
Have you experienced losses by investing with Dennis Mehringer? If you have, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a potential recovery of your investment losses. Soreide Law Group provides representation to clients on a contingency fee basis and advances costs. The law firm has recovered millions of dollars for clients who have experienced losses due to misconduct of brokerage firms and securities brokers like Mehringer.