Richard Hohol from Roselle, Illinois, Suspended Two Months from Securities Industry
Have you lost money with financial advisor Richard Hohol of Roselle, Illinois? We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against Richard P. Hohol. FINRA suspended Hohol from the securities industry for two months and fined him $5,000. FINRA was investigating Hohol regarding allegations that he allowed a non-registered person to assist him in selling non-traded REITs (real estate investment trusts) and business development corporations (BDCs) to customers. FINRA alleged that Hohol paid the non-registered person over $100,000 for her sales efforts.
Richard Hohol was a financial advisor and registered representative of Cetera Advisor Networks from 1999 to January 2016. He worked at a branch office in Roselle, Illinois. Hohol was terminated by Cetera for this alleged conduct.
Brokerage firms like Cetera Advisor Networks have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Ann Arbor, Michigan; and Seattle, Washington. We represent investors in FINRA arbitration in all 50 states, including over 150 investors in the past from throughout the Chicagoland area, Northern Illinois, and Central Illinois.
Attorney David Neuman was born in Berwyn, Illinois and grew up in the western suburbs in nearby Addison. He earned a degree in Finance at the University of Illinois in Urbana-Champaign before earning his law degree at Northern Illinois University in DeKalb, Illinois. Mr. Neuman also previously worked for a number of Chicago area law firms, including firms in St. Charles, Geneva, Chicago, and Barrington.
Click to view: Hohol, Richard FINRA AWC
Click to view: Hohol, Richard BrokerCheck 1.11.18
If you lost money with Richard Hohol or Cetera Advisor Networks, please CONTACT US at 206-795-5798 for a free evaluation of your case.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.