Richard William Rokala Jr. of Minneapolis Minnesota a stockbroker formerly registered with Dougherty Company LLC is the subject of a customer initiated investment related arbitration claim which was resolved for $45,000.00 in damages based upon allegations that (1) the customer’s account was administered negligently (2) unauthorized trades were executed by the stockbroker (3) stock and bond purchases were unsuitable (4) the customer’s account was churned and (5) Dougherty Company failed to supervise the trades Rokala placed in the customer’s account which led the customer to experience unwarranted losses. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-00828 (Aug. 21, 2019).
This is not the first time that Rokala has been subject of a dispute from a Dougherty Company customer for trading misconduct. FINRA Public Disclosure confirms that a customer initiated investment related arbitration claim regarding Rokala’s conduct was settled for $55,000.00 in damages supported by accusations that unfounded statements had been made concerning the terms, conditions, risks or performance of municipal debt products purchased for the customer’s account; and an investment strategy utilized by Rokala failed to be appropriate and caused the customer to
Rokala’s employment with Dougherty Company has been terminated as of August 14, 2017. Since July 19, 2017, Rokala has been employed by The Oak Ridge Financial Services Group Inc.
