Rasheed Adams—Excessive Trading and Churning
Rasheed Adams Allegedly Engaged in Unsuitable and Excessive Trading and Churned Customer Accounts
Rasheed Adam, between July 1, 2013 and June 30, 2014, and while associated with CISC, allegedly engaged in unsuitable excessive trading and churning in two of his customers’ accounts, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC).
What is more, while associated with a FINRA member firm and registered with FINRA, Adams willfully failed to amend his Securities Industry Registration, and to disclose twelve unsatisfied judgments and liens, the AWC further reports.
Rasheed Adams Barred by FINRA after Failing to Provide the Documents and Information Requested by FINRA’s Investigation
Rasheed Adams’s alleged improper trading activity resulted in a turnover rate in a customer’s account of 16.14, and a cost-to-equity ratio of 70.99%, while the turnover rate in the other customer’s account was of 19.16, and a cost-to-equity ratio of 91.96%, according to the AWC.
FINRA initiated an investigation into Adam’s alleged improper trading activity. Adams allegedly failed to provide the documents and information requested by FINRA’s investigation, according to the AWC.
As a result of Adams’s alleged refusal to provide said documents and information, Adams has been barred by FINRA.
The Peiffer Wolf Investor Rights Lawyers Helping Investors
The Peiffer Wolf investor rights lawyers often represent investors who lose money as a result of unsuitable excessive trading and churning. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of unsuitable excessive trading and churning may contact the investor rights lawyers at Peiffer Wolf, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 585-310-5140.
Broker: Rasheed Adams
Status: INVESTIGATED by Peiffer Wolf.
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