Sean Waters, Financial Advisor Barred from Securities Industry | Goodman & Nekvasil P.A., May Recover Investor Losses

Goodman & Nekvasil P.A., May Recover Investor Losses | Sean Waters, Financial Advisor Barred from Securities Industry 

Sean Waters was previously licensed with Newbridge Securities Corporation and Financial West Group. FINRA reports that Sean Waters was barred from the securities industry on November 28, 2018. FINRA reports that Sean Waters consented to the sanction and to the entry of findings that Sean Waters engaged in excessive and unsuitable trading and churning in a senior customer’s accounts at his member firm, thus he willfully violated Section 10(b) of the Securities Exchange Act of 1934, and Rule 10b-5, and FINRA Rules 2010, 2020 and 2111. The findings stated that Sean Waters’ trading in the customer’s accounts was excessive and conducted with a reckless disregard for her interests. FINRA reports that Sean Waters’ trading resulted in more than $88,000 in cumulative losses to the senior customer out of $150,000 she initially transferred to his firm, while he generated commissions, markups/markdowns and fees totaling approximately of $115,000. In fact, during a four-year period, Sean Waters earned 40 percent of his total commissions solely from the trading he did in this customer’s individual account and IRA. FINRA reports that Sean Waters’ level of trading activity in these accounts, which he exercised de facto control over and made all trading decisions, was inconsistent with the senior customer’s investment objectives and financial situation.

If you lost money on investments with Sean Waters 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 concerning Sean Waters’ 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 $180 million on behalf of victimized investors. If you lost money on investments with Sean Waters 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.

Contact Us Today!

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