Eric Dean Rolschoven, of Missoula, Montana, a stockbroker registered with FSC Securities Corporation, was fined $15,000.00 by the Office of the Montana State Auditor, Commissioner of Securities and Insurance, according to a Consent Agreement and Final Order containing findings that Rolschoven failed to supervise a registered representative who engaged in sales practice violations. In the Matter of Eric Rolshoven, Case No. SEC-2015-78 (July 12, 2017).
According to the Order, Rolschoven supervised registered representative Barry G. Hartman during the time that he was registered with FSC Securities. Evidently, Hartman effected substantial amounts of customer funds in private securities, and even facilitated customers’ investments in companies he owned. The Commissioner of Securities and Insurance concluded that Rolschoven’s supervisory failures were violative of § 30-10-201(13)(k).
FINRA Public Disclosure reveals that Rolschoven has been identified in two more customer initiated investment related disputes pertaining to allegations of his misconduct while he was associated with FSC Securities Corporation. Specifically, a customer filed an investment related civil action involving Rolschoven’s conduct in the Fourth Judicial District Court of Montana, in which the customer requested $2,000,000.00 in damages founded on accusations that Rolschoven failed to supervise a registered representative’s activities, which included the representative’s sales of Regulation D private placements between 2004 and 2015. Civil Action No. DV-32-2015-0000725 BC (Aug. 21, 2015).
Rolschoven has also been subject of a customer initiated investment related civil action brought in the First Judicial District Court of Montana, wherein the customer settled the lawsuit for $10,000.00 in damages supported by allegations that Rolschoven failed to supervise a registered representative who effected unsuitable business development company and real estate investment trust product transactions in the customer’s investment portfolio. Civil Action No. BDV-2016-51 (Oct. 12, 2016).
Rolschoven was fired from FSC Securities Corporation on May 8, 2015, based upon accusations that a representative of the firm that Rolschoven failed to supervise had been caught facilitating private placement sales. Between June 19, 2015 and August 27, 2015, Rolschoven was associated with SII Investments Inc. Since August 3, 2017, Rolschoven has been registered with American Independent Securities Group, LLC.
The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source.
This posting and the information on our website is for general information purposes only. This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship. Attorney Advertisement. See Important Disclaimer
Guiliano Law Group
Our practice is limited to the representation of investors. We accept representation on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.
For more information concerning common claims against stockbrokers and investment professionals, please visit us at securitiesarbitrations.com
To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com
