Articles Tagged with Dougherty Company

Stoltmann Law Offices is investigating Jeffrey Jacobson who is a registered broker with Dougherty & Company in Minneapolis, Minnesota. Jacobson allegedly “did not adequately supervise a representative who initiated hundreds of trades for elderly customers without contacting them, and unsuitably recommended transactions to those customers. He also recommended unsuitable trading strategies short term trading in corporate and municipal bonds and unnecessary uses of margin to those customers on numerous occasions.” The Financial Industry Regulatory Authority (FINRA) also found that he “did not adequately investigate warning signs, such as the customers’ repeated appearances on certain monthly exception reports addressing accounts with high levels of trading activity. He never communicated with the customers, relying instead on ‘activity letters’ that did not adequately describe the representative’s trading activity or adequately inform the customer about the concerns that prompted the letters. He also did not alert any other supervisory personnel about the representative’s trading activity.” For this, he was suspended for 15 days and fined $7,500.

Jacobson was registered with AG Edwards & Sons in St. Louis, Missouri from January 1993 until May 1996, Painewebber in Weehawken, New Jersey from May 1996 until December 1998, LM Financial Partners in New Orleans, Louisiana from November 1998 until November 2002 and Raymond James in St. Petersburg, Florida from October 2002 until December 2002. He is currently registered with Dougherty & Co. in Minneapolis, Minnesota and has been since December 2002. Please call our securities law firm in Chicago, Illinois today for a free consultation with an attorney. We may be able to help you bring an arbitration claim against Dougherty & Co. in the FINRA arbitration forum. The call is free with no obligation.

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Stoltmann Law Offices continues to investigate Jeffrey Hill and his former firm, Dougherty & Company LLC. The Financial Industry Regulatory Authority (FINRA) alleged that Mr. Hill made hundreds of trades for a couple without their permission to make the trades. The couple was elderly. Many of the trades were allegedly unsuitable, including short-term trading of bonds. FINRA also brought a claim against Dougherty & Company for failing to adequately supervise Mr. Hill. The company agreed to pay a $140,000 fine and $78,910 in restitution to the couple. Hill was suspended from the industry for 15 months and fined $5,000. The Minnesota Commission of Commerce also brought a complaint against him regarding the same conduct. He was suspended for one year by the state. Brokerage firms like Dougherty & Company have a responsibility to adequately supervise all representatives who are registered through their firm. They also must take steps to ensure that their financial advisors follow all securities rules and regulations and internal firm policies. If the broker does not, the firm may be liable for investment losses. Please call our securities law firm today if you suffered losses with Mr. Hill. We may be able to help you bring a claim against Dougherty & Company in the FINRA arbitration forum on a contingency fee basis. 312-332-4200.

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