Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Timothy Newell (Newell), previously associated with Proequities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Newell recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a settled customer complaint with a damage request of $3,713,544.00 on October 16, 2023.
On or around October 16, 2023, Claimant requested to initiate arbitration proceedings against Harvest Investment Services, LLC, and Tim Newell (‘Respondents’), alleging violations of Illinois securities laws among a number of causes of action arising out of Respondents’ investment advisory services to Claimant between November 2015 and June 2023. Respondents denied all of Claimant’s allegations; however, in the interest of avoiding additional costly and time-consuming legal proceedings, Respondents during the mediation process agreed to settle Claimant’s claims.