FINRA awarded a former client $3 million in damages for investment losses due to failure to supervise its broker, David Blisk.
The Sonn Law Group is investigating allegations that Spire Securities, LLC failed to adequately supervise its brokers. Under FINRA Rules, brokerage firms are liable for their brokers’ misconduct or negligence and investors may be able to their investment through FINRA arbitration. Contact Sonn Law Group today or call us at 866–827–3202 for a free consultation.
In 2016, a former client of Spire Securities, LLC (Spire) filed a complaint against financial advisor David Blisk (CRD#:2155652) and Spire alleging failure to supervise, negligent or intentional misstatements, control person liability, respondent superior, unsuitability, among other violations of FINRA Rules and securities law.
Spire denied the allegations and FINRA conducted arbitration proceedings that eventually ended on June 20, 2019 with the award of $3 million in the clients’ favor.
Blisk, who has been registered with Spire since 2007, is still employed by the firm. He has no other disclosures on his record.
Under FINRA Rules, member firms are responsible for supervising their brokers’ activities during the time the broker is registered with the firm. Thus, Spire may be liable for investment or other losses suffered by Blisk’s customers.
Jeffrey R. Sonn is an experienced investor losses attorney. If you suffered losses because a financial professional recommended that you invest in unsuitable products, Mr. Sonn will protect your rights and interests. Please do not hesitate to contact the Sonn Law Group today for a free review of your claim.