St. Petersburg Broker Suspended by FINRA for Failure to Execute a Trade Order

Fort Lauderdale-based Soreide Law Group recently obtained this summary of information from FINRA’s website under “Disciplinary and Other FINRA Actions, October, 2014.”

Richard Happle (CRD #1095540, St. Petersburg, Florida)

was assessed a deferred fine of $5,000 and suspended by for 10 business days. Allegedly, Happle failed to execute a client's trade order.

FINRA's findings stated that allegedly Happle’s client asked him to sell all shares of a stock held in his account at the market open of the following day. On the following day, Happle did not sell the client’s shares at the market open because the stock price was declining rapidly and he wanted to discuss the decision to sell with the client.

After the client learned that Happle did not sell the shares, he instructed Happle to sell the shares immediately. From the time the market opened until the execution of the sell order, the client lost an additional $28,000. Happle and his member firm compensated the client for his losses.
The suspension was in effect from September 2, 2014, through September 15, 2014.
(FINRA Case #2012034739701)

Richard Happle was previously registered with the following securities firm(s):

Registered Dates Firm
10/1984 - 12/2013 RAYMOND JAMES & ASSOCIATES, INC. (CRD# 705) - TAMPA, FL

03/1983 - 11/1984 EARL W. SHOMBER & CO., INC. (CRD# 13111)

This ends the information from FINRA's website.

Call the Fort Lauderdale-based Soreide Law Group for a free consultation on how to potentially recover the losses you may have incurred as a result of your broker/financial advisor's recommendations at 888-760-6552.