Derek Stamos, of Portland, a stockbroker associated with Somerset Securities, Inc., has been named in an enforcement action by the Oregon Department of Consumer and Business Services, Division of Financial Regulation, Department of Enforcement.
According to FINRA Public Disclosure, the pending enforcement action alleges that Stamos sold certain “variable annuities and private placements of unregistered securities” without being proper registered between June 2022 and July 2024. The matter is pending, and according to Public Disclosure, Stamos “has requested a hearing and discovery with Oregon Division of Consumer Affairs and Business Services without waiving rights to further respond and defend.” Somerset Securities also “denies liability for unlicensed salespersons activity and negligent supervision.”
Public Disclosure also reveals a customer initiated, investment related FINRA securities arbitration claim against Stamos alleging that he recommended unsuitable investments in the iCap Equity private placement. The matter was settled for $70,000.
The Guiliano Law Group, P.C.
For more than thirty years, 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 a confidential evaluation of your claim. For more information, contact us at (877) SEC-ATTY.
If you believe that you have been the victim of misconduct or fraud, contact us for a free consultation. We handle all cases on a contingency fee basis meaning that there is no cost or obligation, unless we are able to make a recovery for you.
