Goodman & Nekvasil P.A., May Recover Investor Losses | Richard Edward Holliday (Richard Holliday), Financial Advisor Barred from Securities Industry
From 2012 until Richard Holliday’s discharge in 2014, Richard Holliday worked for The Investment Center, Inc. Richard Holliday previously worked for Spire Securities, LLC. According to FINRA’s records, Richard Holliday was discharged from The Investment Center, Inc. on January 24, 2014. The Investment Center, Inc. reported to FINRA that the Firm initiated an unannounced branch examination for Richard Holliday’s branch on January 24, 2014 relating to promissory notes. The Investment Center, Inc. reported to FINRA that Richard Holliday failed to comply with review requests made by the compliance examiner during Richard Holliday’s branch examination. Specifically, The Investment Center, Inc. reports that Richard Holliday refused access to a number of file cabinets and refused requests to view Richard Holliday’s checking account check copies. The Investment Center, Inc. reports that based on not cooperating with the examiner, Richard Holliday was discharged.
Subsequent to Richard Holliday’s firing by The Investment Center, Inc. FINRA investigated Richard Holliday and brought a disciplinary action against Richard Holliday. Richard Holliday was barred from the securities and investment banking industry by the Financial Industry Regulatory Authority (FINRA) on June 19, 2014. Richard Holliday consented to the sanction and to the entry of findings that over a period of approximately three years, Richard Holliday borrowed $155,000 from customers. The findings stated that Richard Holliday has not repaid the loans in full and did not disclose the loans to either of Richard Holliday’s member firms. According to FINRA, during the period in which Richard Holliday accepted the loans, both firms’ written supervisory procedures generally prohibited their representatives from borrowing funds from customers. The findings also stated that Richard Holliday provided false information in response on Richard Holliday’s firms’ annual compliance questionnaires. According to FINRA, when asked on firm compliance questionnaires from 2010 to 2013 whether Richard Holliday had borrowed funds from customers, Richard Holliday falsely responded no.
If you lost any money on investments with Richard Holliday, you may be able to recover your losses from The Investment Center, Inc. and/or Spire Securities, LLC. This is because The Investment Center, Inc. and Spire Securities, LLC. had a duty to supervise Richard Holliday.
If you lost money on investments with Richard Holliday and believe 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 The Investment Center, Inc. and/or Spire Securities, LLC concerning Richard Holliday’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.
Goodman & Nekvasil, P.A. has recovered more than $180 million on behalf of victimized investors. If you lost money on investments with Richard Holliday 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.