Douglas Frank Cmelik (Doug Cmelik) Suspended from Securities Industry and Fired by Ameriprise Financial Services, Inc. – Goodman & Nekvasil P.A., May Recover Investor Losses

Goodman & Nekvasil P.A., May Recover Investor Losses – Douglas Frank Cmelik (Doug Cmelik) Suspended from Securities Industry and Fired by Ameriprise Financial Services, Inc.

From 1997 until Doug Cmelik’s firing in 2011, Doug Cmelik was licensed with Ameriprise Financial Services, Inc. Doug Cmelik was subsequently licensed with Ameritas Investment Corp. and NDX Trading, Inc. According to FINRA’s records, Doug Cmelik was fired by Ameriprise Financial Services, Inc. on March 16, 2011. Ameriprise Financial Services, Inc. reported to FINRA that Doug Cmelik was accused of trading discretionary penny stock.

Subsequent to Doug Cmelik’s firing by Ameriprise Financial Services, Inc. FINRA investigated Doug Cmelik and brought a disciplinary action against Doug Cmelik. Doug Cmelik was suspended from the securities and investment banking industry for 60 days and fined $10,000 on April 7, 2014. FINRA reports that Doug Cmelik consented to the sanctions and to the entry of findings that Doug Cmelik placed 133 orders to purchase a penny stock and marked the order tickets for these purchases as “unsolicited” even though Doug Cmelik solicited these purchases. The findings stated that Doug Cmelik’s failure to mark these penny stock purchases as solicited caused Doug Cmelik’s member firm’s books and records to be inaccurate. According to FINRA, the firm prohibited its registered representative from soliciting purchases of penny stocks.

FINRA reports that four arbitration claims and/or complaints were filed involving Doug Cmelik’s conduct with Ameriprise Financial Services, Inc. These arbitration claims and/or complaints allege misrepresentation and/or recommendation of an unsuitable penny stock called PEI Worldwide (PEIW). These arbitration claims and/or complaints all settled, with the largest settling for $110,000.

If you lost money on investments with Doug Cmelik 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 Ameriprise Financial Services, Inc. concerning Doug Cmelik’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 $170 million on behalf of victimized investors. If you lost money on investments with Doug Cmelik 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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