Richard Holliday Banned from Securities Industry After Allegedly Borrowing Money from Customers
Richard Edward Holliday, formerly associated with Spire Securities, LLC and The Investment Center, Inc., is barred from the securities industry after being accused by the Financial Industry Regulatory Authority (“FINRA”) of borrowing money from his customers.
Holliday borrowed $155,000 from five customers over a period of approximately three years, according to FINRA.
Regulatory rules designed to protect investors prevent financial professional from receiving loans from their customers unless a number of stringent standards are met.
Holliday consented to being banned from the securities industry without denying or admitting FINRA’s findings.
The Peiffer Rosca securities attorneys often represent investors who lose money as a result of Ponzi schemes, investment fraud, or stockbroker misconduct. They are currently investigating the possibility of assisting victims with the recovery of their losses. 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 investment fraud or misconduct may contact the securities lawyers at Peiffer Rosca, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.
Broker: Richard Edward Holliday
Status: INVESTIGATED by Peiffer Rosca.
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