Richard Holliday Banned from Securities Industry After Allegedly Borrowing Money from Customers

Cleveland stockbroker fraud attorneyRichard 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.

For brokercheck report and additional info click here!

Alan Rosca (1200 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.