Goodman & Nekvasil P.A., May Recover Your Investment Losses – Donald P. Southwick (Donald Southwick) Formerly Licensed with CSSC Brokerage Services, Inc. Suspended from Securities Industry
Donald Southwick was licensed with CSSC Brokerage Services, Inc. from 2012 to 2015. Donald Southwick was previously licensed with FSC Securities Corporation. Donald Southwick was suspended from the securities and investment banking industry for 6 months by the Financial Industry Regulatory Authority (FINRA) in September 2017. FINRA reports that Donald Southwick consented to the sanction and to the entry of findings that Donald Southwick failed to perform a reasonable basis suitability analysis prior to recommending investments in two private offerings – a bond offering and a bridge loan – to Donald Southwick’s customers. The findings stated that Donald Southwick did not have an understanding of the potential risks and rewards associated with the offering, the financial condition of Donald Southwick’s member firm’s parent at the time, or the illiquid nature of the investments.
The FINRA findings also stated that Donald Southwick recommended unsuitable transactions in the securities accounts of two customers by recommending purchases that resulted in an over-concentration of illiquid private offerings, inconsistent with their investment objectives and risk tolerance.
FINRA reports that an arbitration claim involving Donald Southwick’s conduct with CSSC Brokerage Services, Inc. is currently pending. The claimant alleges conflicting advice, unsuitable investment, breach of fiduciary duty, and misrepresentation. This pending arbitration claim seeks $300,000 in damages.
FINRA reports that a previous arbitration claim involving Donald Southwick’s conduct with Morgan Stanley & Co. Incorporated was settled for $195,000.
FINRA reports that Donald Southwick filed for Chapter 11 bankruptcy in 2014.
If you lost any money on investments with Donald Southwick, you may be able to recover your losses from CSSC Brokerage Services, Inc. and/or FSC Securities Corporation. This is because CSSC Brokerage Services, Inc. and FSC Securities Corporation had a duty to supervise Donald Southwick.
If you lost money on investments with Donald Southwick 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 CSSC Brokerage Services, Inc. and/or FSC Securities Corporation concerning Donald Southwick’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.
Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $300 million on behalf of victimized investors. If you lost money on investments with Donald Southwick 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.
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