Lance Jeffrey Ziesemer of Wayzata Minnesota a stockbroker formerly registered with Feltl Company is the subject of a customer initiated investment related arbitration claim where the customer was awarded $44,972.00 in compensatory damages based upon Feltl Company being found liable on the customer’s claims which included (1) fraud (2) breach of fiduciary duty (3) breach of contract (4) negligence and (5) violation of federal securities laws in reference to oil and gas securities transactions effected by Ziesemer while the stockbroker was associated with the securities broker dealer. Financial Industry Regulatory Authority (FINRA) Arbitration Award No. 18-02898 (Jan. 24, 2019).
FINRA Public Disclosure confirms that Ziesemer is referenced in thirteen additional customer initiated investment related disputes concerning allegations of the stockbroker’s wrongdoing while employed by securities broker dealers including Feltl Company. Specifically, a customer initiated investment related arbitration claim regarding Ziesemer’s activities was settled for $32,000.00 in damages supported by accusations that customer’s account was handled by the stockbroker in a negligent manner; fiduciary duties had been breached; trades were effected on an excessive basis by the stockbroker; and common or preferred stocks and over the counter equities transactions executed in the customer’s account were unsuitable for the customer. FINRA Arbitration No. 17-01320 (Apr. 10, 2018).
Another customer initiated investment related complaint involving Ziesemer’s conduct was resolved on April 10, 2018 for $125,000.00 in damages based upon allegations that while Ziesemer was associated with Feltl Company, transactions effected by the stockbroker failed to be suitable in view of the customer’s objectives for investing and concerns about risks; the customer was charged excessive commissions in reference to unit investment trusts; and trades were effected on an excessive basis.
Ziesemer is also the subject of a customer initiated investment related arbitration claim in which the customer was awarded $17,193.00 in compensatory damages based on Feltl Company being found liable on the customer’s claims of breach of fiduciary duty; breach of contract; failure to supervise; negligence; fraud; and violation of federal securities laws concerning real estate securities and other investments which Ziesemer sold or recommended when the stockbroker was employed by the securities broker dealer. FINRA Arbitration Award No. 18-02793 (Jan. 7, 2019).
FINRA Public Disclosure also reveals that Ziesemer has been fined $7,500.00 and suspended for three months by FINRA from associating with any FINRA member in any capacity and ordered to disgorge ill-gotten gains supported by accusations that the stockbroker violated FINRA Rules 2010 and 2111 by recommending excessive unit investment trust trades during the period that the stockbroker was registered with Feltl Company. Letter of Acceptance Waiver and Consent No. 2013036524903 (May 13, 2016). He was subsequently barred by FINRA from associating with any FINRA member in any capacity based upon allegations or findings that the stockbroker neglected to respond to FINRA’s request for information about his activities. FINRA Case No. 2016049847001 (Sept. 26, 2016).
Ziesemer’s registration with Feltl Company has been terminated as of February 3, 2016.
