Ronald Richer, formerly with Garden State Securities, Subject of FINRA Complaint
Have you lost money with financial advisor Ronald Richer? We are looking into allegations made about Ronald G. Richer from New York, New York. FINRA (the Financial Industry Regulatory Authority) seeks to punish Ronald Richer. FINRA alleged that Richer borrowed $15,000 from a client who was not a family member, and without notifying his brokerage firm.
Ronald Richer was a financial advisor and registered representative of Garden State Securities from December 2014 to May 2020. He worked in a branch office in New York, New York. He was also terminated by Garden State Securities for this alleged conduct, and Richer has also been the subject of four customer complaints.
Brokerage firms like Garden State Securities 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; Seattle, Washington; Ann Arbor, Michigan; and Phoenix, Arizona. We represent investors in FINRA arbitration proceedings in all 50 states, including New York. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including against Garden State Securities.