Joseph Morris Thurnherr, of Brandon, South Dakota, a stockbroker formerly registered with Spartan Capital Securities LLC, is identified in a customer initiated investment related FINRA securities arbitration claim in which the customer sought $75,000.00 in damages founded on allegations of negligent supervision, breach of fiduciary duty, and breach of contract during the time that Thurnherr was registered with Spartan Capital Securities. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-01244 (July 14, 2021). According to the claim, unauthorized and unsuitable trades were made in the customer’s account.
Thurnherr has been identified in eight additional customer initiated investment related disputes concerning accusations of his conduct and activities while employed by Wynston Hill Capital LLC, First Standard Financial Company, Legend Securities Inc., Meyers Associates LP, and National Securities Corp. FINRA Public Disclosure shows that a customer filed an investment related complaint concerning Thurnherr’s conduct where the customer requested $89,268.00 in damages based upon allegations including misrepresentation relating to over-the-counter equities trades for the customer’s account at National Securities Corp.
Thurnherr is the subject of a different customer initiated investment related arbitration claim in which the customer sought $536,180.09 in damages founded on accusations that unauthorized, excessive, and unsuitable trades by Thurnherr led to damages on the customer’s stock and over-the-counter equities holdings at Legend Securities. The claim also contains allegations of negligence, breach of fiduciary duty, and breach of contract resulting in damages.
Thurnherr is also referenced in a customer initiated investment related arbitration claim where the customer requested $383,000.00 in damages supported by accusations of unauthorized over-the-counter equities trading by Thurnherr at Meyers Associates LP. FINRA Arbitration No. 17-00884 (April 18, 2017). The claim alleges that Thurnherr’s trading was unauthorized and unsuitable. According to the claim, the customer’s account had been churned.
On July 25, 2017, another customer initiated investment related arbitration claim involving Thurnherr’s activities was settled for $14,249.00 in damages founded on allegations of the customer’s account being overconcentrated in stocks and over-the-counter equities, resulting in losses. FINRA Arbitration No. 16-01460. The claim alleges unsuitable trading at First Standard Financial Company.
On October 16, 2019, an additional customer initiated investment related arbitration claim involving Thurnherr’s activities was resolved for $50,000.00 in damages based upon accusations of breach of fiduciary duty and misrepresentation concerning equities when Thurnherr was associated with National Securities Corp. FINRA Arbitration No. 19-00494.
Thurnherr is named in a customer initiated investment related arbitration claim in which the customer was awarded $314,852.15 in damages founded on Thurnherr and Wynston Hill being found liable on the customer’s causes of action. FINRA Arbitration No. 19-02155 (August 17, 2021). The Statement of Claim alleges overconcentration, failure to supervise, and fraud. Thurnherr allegedly lacked registration in the customer’s state and had someone else execute transactions.
Thurnherr has been barred from associating with any FINRA member in any capacity based upon findings that he hindered a FINRA investigation concerning allegations of his sales practice violations at Wynston Hill Capital. Letter of Acceptance, Waiver, and Consent No. 2019061944201 (February 25, 2020).
According to the AWC, Thurnherr was asked by FINRA to provide documents and information relating to a customer initiated investment related arbitration claim. His lawyer informed FINRA that he received the request for his documents and information. Thurnherr refused to cooperate, violating FINRA Rules 2010 and 8210.
Thurnherr has also been sanctioned by New Jersey Bureau of Securities in May of 2019, and sanctioned by Florida Office of Financial Regulation in October of 2017.
Thurnherr was registered with Wynston Hill Capital between December 26, 2018, and June 20, 2019. One half of the ten firms with whom Thurnherr has been associated have been expelled by FINRA or are otherwise defunct.
