Feltl & Co., based in Minneapolis, paid a $1 million fine for alleged supervisory failures, among other things, while overseeing penny stock, and it has now replaced several executives, including it's general counsel, chief compliance officer, head trader, and a branch manager.
FINRA reported that Feltl also failed to comply with customer-suitability, disclosure, and record-keeping requirements. Feltl did not provide risk-disclosure documents to customers before trading penny stocks, which are considered to be high risk and speculative.
According to FINRA, Feltl solicited their clients to make at least 2,450 purchases of 17 penny stocks and received $2.1 million from the transactions. FINRA said it was unable to gauge the total number of trades because of their incomplete records.
If you've purchased high-risk penny stocks at the recommendation of your stock broker/financial advisor, please contact Soreide Law Group at (888) 760-6552 for a free consultation on how to potentially recover your losses. We represent clients nationwide before FINRA.
Soreide Law Group is investigating potential investor claims involving Blue Owl Capital Corporation (NYSE: OBDC), including whether brokers and financial advisors properly explained the risks surrounding this publicly traded business development company and its related private credit platform. OBDC invests primarily in loans to middle-market companies and is often marketed as an income-generating investment. However, […]
Investors potentially experienced sales practice violations by securities broker Mark Perry Kissinger [CRD: 4546631, Frisco, Texas], given the disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Kissinger worked for NYLIFE Securities LLC since November 27, 2018, and Eagle Strategies LLC since March 15, 2023. Read on for a better understanding about the disclosures involving this […]
Investors have reportedly disputed the sales practices of securities broker Robert Steven Wilkinson [CRD: 1180321, Oakland, California], according to publicly available information found on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Wilkinson worked for Western International Securities Inc. from November 26, 2013, to June 5, 2025, and later registered with LPL Financial LLC beginning June 5, […]
Phone:
Fax: 1-954-760-6553
Email: info@securitieslawyer.com