Securities Lawyers Blog
The securities fraud lawyers of Gana Weinstein LLP are investigating customer complaints and regulatory actions filed with The Financial Industry Regulatory Authority’s (FINRA) against broker Richard Poston (Poston). According to BrokerCheck records, Poston has spent 20 years in the securities industry and was most recently registered with H. Beck, Inc. (H. Beck) in Plano, Texas. Poston is currently not licensed to act as a broker or an investment adviser. Over his career, Poston has been the subject of at least four customer complaints, one regulatory investigation, one employment separation for cause, and one bankruptcy.
The most recent regulatory investigation was filed in December 2015 by FINRA alleging potential violations of FINRA Rules 2010, 2150, 3240, and 8210. These rules revolve around standards of commercial honor and equitable principles of trade, improper use of customers’ securities or funds, the borrowing or lending money from or to any customer without written approval.
The most recent complaint was filed in March 2016 while employed at H. Beck alleging that Poston, from October 2007, until September 2015 made unsuitable concentrated and illiquid investments in non-traded REIT’s. The claim is currently pending.