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 Rosca Wolf Investor Rights Lawyers Helping Investors

The Peiffer Rosca 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 Rosca Wolf, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Broker: Rasheed Adams

Status: INVESTIGATED by Peiffer Rosca.

For brokercheck report and additional info click here!

Alan Rosca (1168 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.