Marc Augustus Reda (Marc Reda) Suspended from Securities Industry and Terminated by PHX Financial, Inc. – Goodman & Nekvasil P.A., May Recover Investor Losses

Goodman & Nekvasil P.A., May Recover Investor Losses - Marc Augustus Reda (Marc Reda) Suspended from Securities Industry and Terminated by PHX Financial, Inc.

From 2014 until Marc Reda’s termination in 2016, Marc Reda worked for PHX Financial, Inc. Marc Reda now works for Spartan Capital Securities, LLC. Marc Reda previously worked for First Standard Financial Company LLC and Laidlaw & Company (UK) Ltd. According to FINRA’s records, Marc Reda was terminated by PHX Financial, Inc. on January 25, 2016. PHX Financial, Inc. reported to FINRA that Marc Reda was accused of violating the firm’s cell phone policy. According to FINRA, Marc Reda was also terminated by a previous firm relating to a customer complaint.

Following Marc Reda’s firing by PHX Financial, Inc., FINRA investigated Marc Reda and brought a disciplinary action against Marc Reda. Marc Reda consented to a 3 month suspension from the securities and investment banking industry and a $5,000 fine. Marc Reda also consented to findings that Marc Reda exercised discretion in customers’ accounts without written authorization from the customers and without having obtained Marc Reda’s member firm’s approval to treat those accounts as discretionary. The findings stated that Marc Reda failed to timely disclose on his Form U4 a federal tax lien filed against him in the amount of $575,101.

According to FINRA’s records, eight complaints and/or arbitration claims have been filed involving Marc Reda’s conduct with PHX Financial and/or other firms. These complaints and/or arbitration claims allege inappropriate management, excessive commissions, breach of fiduciary duty, unsuitable recommendations, unauthorized trading, overconcentration, and/or other allegations. These complaints and/or arbitration claims were all settled, with the largest settling for $120,000 and $112,500.  

If you lost any money on investments with Marc Reda, you may be able to recover your losses from PHX Financial, Inc., Spartan Capital Securities LLC, First Standard Financial Company LLC, and/or Laidlaw & Company (UK) Ltd. This is because PHX Financial, Inc., Spartan Capital Securities LLC, First Standard Financial Company LLC, and Laidlaw & Company (UK) Ltd. had a duty to supervise Marc Reda.

Assuming you lost money on investments with Marc Reda, and believe that the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action against PHX Financial, Inc., Spartan Capital Securities LLC, First Standard Financial Company LLC, and/or Laidlaw & Company (UK) Ltd. concerning Marc Reda’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.

Our firm has a unique, unparalleled track record. Kalju Nekvasil, Esq., has not lost a securities arbitration case in more than 13 years. Goodman & Nekvasil, P.A. has recovered approximately $300 million on behalf of victimized investors. We would like to discuss the possibility of your retaining our firm to represent you in an arbitration action against PHX Financial, Inc., Spartan Capital Securities LLC, First Standard Financial Company LLC, and/or Laidlaw & Company (UK) Ltd.

If you lost money on investments with Marc Reda and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.

 

Keywords: Marc Augustus Reda, Reda, PHX Financial, Laidlaw & Company, First Standard Financial,  FINRA, SEC, Fraud, Attorney, Broker, Brokerage, Firm, Brokerage Firm, Invest, Lawyer, Securities Lawyer, Goodman and Nekvasil, Nekvasil, Goodman, Investor, Investment, Financial, Financial Services, Securities 

Back to Blogs

Contact Us For a Free Consultation

 
CAPTCHA
This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.
12 + 4 =
Solve this simple math problem and enter the result. E.g. for 1+3, enter 4.