Todd Havemeister Fined By FINRA, Involved In Investor Disputes

FINRA fined securities broker Todd Arnold Havemeister [CRD: 1942953, Melbourne, Florida], and investors complained about him, according to disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Todd Havemeister worked for Great Point Capital LLC from August 21, 2018, to May 5, 2022. Here’s more about the disclosures concerning Todd Havemeister and how they may have impacted investors.

FINRA Fined Havemeister For Private Placement Communications

Notably on March 19, 2024, FINRA issued Case: 2022074921901 sanctioning Todd Havemeister. Specifically, Havemeister was fined $10,000 and suspended in all capacities for five months. FINRA alleged that Havemeister sent numerous communications to prospective investors regarding various private placements that failed to comply with the content standards of FINRA Rule 2210(d).

Supposedly, Havemeister sent communications identifying himself as an investment banker, a role he did not hold at his employer and has never been registered with FINRA. Supposedly, Havemeister also drafted and circulated several communications to investors without obtaining approval from a supervisor. Some of these communications made only positive claims about the prospects and performance of the offering but did not explain any of the risks associated with investing in a speculative, illiquid private placement.

Havemeister Terminated As Great Point Capital Securities Broker

Also, Great Point Capital LLC disaffiliated with Havemeister on April 8, 2022. Supposedly, Havemeister misrepresented himself in communications as a lead Investment banker. Allegedly, Havemeister was not licensed to act in an investment banking capacity.

JHS Capital Advisors Investor Accused Todd Havemeister Of Misrepresentation

Additionally, on December 21, 2012, a JHS Capital Advisors client filed a complaint about Todd Havemeister. Evidently, the client alleged misrepresentation. Because of this, the investor supposedly sustained damages on private placements. Consequently, they requested $292,000 in compensation from JHS Capital Advisors or Havemeister. This complaint was settled on February 27, 2014, for $70,000.

Havemeister Disclosed Breach Of Fiduciary Duty Allegations By Empire Financial Group Inc. Client

Particularly, a client of Empire Financial Group Inc. and Jesup Lamont Securities Corp. contested Todd Havemeister’s sales practices by filing FINRA Arbitration No. 09-02695. Notably, the investor alleged misrepresentation and breach of fiduciary duty. Allegedly,  Havemeister caused the client to sustain damages on promissory notes. Therefore, FINRA Arbitrators issued an Award dated March 22, 2010, compelling Empire Financial Group Inc. and Havemeister to compensate the client in the amount of $100,000 plus interest and an additional $40,000 in punitive damages.

Did You Sustain Losses Because Of Securities Broker Todd Havemeister?

Did you suffer financially because of Todd Havemeister? You could get in touch with Soreide Law Group online or at (888) 760-6552 and speak to a securities attorney about a potential recovery of your investment losses. Soreide Law Group investment loss recovery lawyers help individuals throughout the United States, work on a contingency fee basis, and advance all costs. Havemeister and brokerage firms Havemeister worked for deny accusations of sales practice violations.