Derek J Rehill was suspended for two months by the Financial Industry Regulatory Authority (FINRA) for alleged issues related to documentation of telephone calls with clients. Rehill was working with Joseph Stone Capital, LLC of Mineola, New York, at the time of the allegations.
According to FINRA’s BrokerCheck, available to the public on FINRA’s website, without admitting or denying FINRA’s findings, Derek J Rehill consented to the sanction and to the entry of findings that he allegedly prepared inaccurate client contact notes regarding telephone calls with clients.
FINRA’s findings alleged that Rehill was responsible for periodically calling clients whose accounts his member firm had identified as "actively traded" to confirm the investment objective and risk tolerance reflected on the client's new account form. Derek J Rehill was required to complete a client contact form whether the client had confirmed his or her investment objective and risk tolerance.
According to FINRA’s findings, Derek J. Rehill allegedly completed client contact forms that inaccurately stated that clients had confirmed their investment objectives and risk tolerances. FINRA alleges Rehill completed client contact forms reflecting that clients had confirmed they had a speculative investment objective when, in fact, the clients had not. In a recent article from Financial Advisor IQ, the notes at issue were compiled between 2019 and 2020.
FINRA’s BrokerCheck lists Derek J Rehill as having worked in the securities industry for 24 years and was with 13 firms. Rehill left Joseph Stone Capital, LLC voluntarily in October 2021, and is currently registered at VCS Venture Securities.
According to the article in Financial Advisor IQ, in September of 2022, FINRA ordered Joseph Stone Capital and eight current or former Joseph Stone representatives to pay a total of about $1 million in restitution to clients whose accounts were excessively traded.
If you’ve suffered investment losses due to the actions or recommendations of the former Joseph Stone Capital, LLC, broker Derek J Rehill of Mineola NY, currently with VCS Venture Securities of Garden City, New York, contact Soreide Law Group and speak to an experienced securities lawyer regarding the possible recovery of your financial losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group represents our clients nationwide before FINRA on a contingency fee basis, no fee to you if no recovery.
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