Timothy Scherwa – Financial Advisor Timothy Scherwa Suspended from Securities Industry | Goodman & Nekvasil, P.A. May Recover Investor Losses
Timothy Scherwa CRD #2743773
Timothy Scherwa was licensed with Wells Fargo Clearing Services, LLC from 2014 to 2017. Timoth Scherwa was previoulsly licensed with Morgan Stanley. Timothy Scherwa is now licensed with Capitol Securities Management, Inc. Timothy Scherwa was discharged from Wells Fargo Clearing Services, LLC on October 16, 2017. Wells Fargo Clearing Services, LLC reported to FINRA that Timothy Scherwa allegedly used discretion in non-discretionary accounts.
Timothy Scherwa was suspended from the securities and investment banking industry on September 24, 2018. FINRA reports that Timothy Scherwa consented to the sanctions and to the entry of findings that Timothy Scherwa exercised discretionary trading authority by executing 382 trades in 12 non-discretionary customer accounts without written authorization from the customers and without prior written acceptance of the accounts as discretionary from his member firm. The findings stated that Timothy Scherwa falsely stated on three firm annual compliance certifications that he did not have accounts for which he exercised discretion over trading activities.
If you lost any money on investments with Timothy Scherwa, you may be able to recover your losses from Wells Fargo Clearing Services, LLC, Capitol Securities Management, Inc. and/or Morgan Stanley. This is because Wells Fargo Clearing Services, LLC, Capitol Securities Management, Inc. and Morgan Stanley had a duty to supervise Timothy Scherwa.
If you lost money on investments with Timothy Scherwa 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 Wells Fargo Clearing Services, LLC, Capitol Securities Management, Inc. and/or Morgan Stanley concerning Timothy Scherwa’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 $180 million on behalf of victimized investors. If you lost money on investments with Timothy Scherwa 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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