Tag Archives: Principal Securities Inc.

Principal Stockbroker Barred In Unauthorized Trading Investigation

November 04, 2020  |   Posted by :   |   Securities Arbitration Claims, Unauthorized Trading   |   Comments Off on Principal Stockbroker Barred In Unauthorized Trading Investigation

Robert Barnard of Las Cruces New Mexico a stockbroker formerly registered with Principal Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Barnard did not comply with FINRA’s instructions when he was under investigation for effecting unauthorized transactions while associated with Principal […]

Read More »

FINRA Sanctions Cape May Stockbroker For Altering Documents

September 14, 2020  |   Posted by :   |   Forgery   |   Comments Off on FINRA Sanctions Cape May Stockbroker For Altering Documents

Christopher Thomas Hildebrandt of Cape May Court House New Jersey a stockbroker formerly employed by Principal Securities has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Hildebrandt altered documents to effect distributions and other transactions in customer accounts. Letter of Acceptance […]

Read More »

Principal Securities Terminates Stockbroker For Cause

July 29, 2020  |   Posted by :   |   Variable Annuites   |   Comments Off on Principal Securities Terminates Stockbroker For Cause

John Patrick Priebe of Waseca Minnesota a stockbroker formerly associated with Principal Securities Inc. has been discharged on October 28, 2019 supported by concerns that Priebe had engaged in bad sales practices relating to mutual fund and variable annuity products and that Priebe failed to provide information to Principal Securities regarding his involvement in those […]

Read More »

Investors Sue Principal Securities For $28 Million Private Placement Fraud

June 08, 2020  |   Posted by :   |   Private Placement Fraud, Securities Arbitration Claims, Securities Fraud   |   Comments Off on Investors Sue Principal Securities For $28 Million Private Placement Fraud

John Michael Krohn (also known as John Micheal Krohn) of West Des Moines Iowa a stockbroker formerly registered with Principal Securities Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $10,000,000.00 in damages based upon accusations of Krohn having recommended or sold investments to the customer outside of […]

Read More »

Investors Accuse Principal Securities Of Misrepresentation

Matthew Lee Geiser of Grand Island Nebraska a stockbroker formerly registered with Principal Securities Inc. is the subject of a customer initiated investment related complaint which has been settled for $63,653.28 in damages on January 22, 2018 founded on accusations that Geiser falsified information concerning the guaranteed returns of an annuity he sold to the […]

Read More »

Principal Securities Sued By Investors For Fraud

Fred Shlesinger of Addison Texas a stockbroker formerly employed by Principal Securities Inc. is the subject of a customer initiated investment related complaint on October 14, 2018 regarding Shlesinger’s conduct where the customer sought damages estimated to exceed $5,000.00 based upon accusations that misrepresentations were made to the customer concerning the funding of a variable […]

Read More »

Principal Broker Discharged For Altering Customer Forms

November 23, 2018  |   Posted by :   |   Investment and Regulatory News, Variable Annuites   |   0 Comments

Brian Clark Johnson of Sioux City Iowa a stockbroker formerly employed by Principal Securities Inc. has been discharged on July 25, 2017 supported by Principal Securities’ allegations that Johnson violated the firm’s policy by altering a customer’s fixed-annuity forms. Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally reveals that on December 21, 2012, a customer […]

Read More »

Principal Securities Sued For Breach Of Fiduciary Duty

Scott Alan Kimmel of Fort Worth Texas a stockbroker currently employed by Principal Securities Inc. is the subject of a customer initiated investment related arbitration claim where the customer alleged that Kimmel breached a fiduciary duty owed to the customer in reference to an employer stock options plan investment allocation. Financial Industry Regulatory Authority (FINRA) […]

Read More »

Investor Sues Principal For Bad Mutual Fund Investments

John Patrick Priebe of Waseca Minnesota a stockbroker currently registered with Principal Securities Inc. (also known as Princor Financial Services Corporation) is the subject of a customer initiated investment related arbitration claim where the customer sought $900,000.00 in damages based upon accusations that (1) Priebe executed mutual fund and options transactions in the customer’s account […]

Read More »

Bad Breeding Inspires Insurance Misrepresentation Claim

June 21, 2018  |   Posted by :   |   Investment and Regulatory News, Variable Annuites   |   0 Comments

Bruce Edward Breeding of Malvern Pennsylvania a stockbroker formerly registered with Principal Securities Inc. is the subject of a customer initiated investment related written complaint on February 16, 2018 in which the customer requested $25,000.00 in damages based upon allegations that misrepresentations had been made concerning a variable universal life insurance policy purchased by the […]

Read More »

Principal Securities Stockbroker Fined For Selling Away

John Michael Krohn of West Des Moines Iowa a stockbroker formerly employed by Principal Securities Inc. has been fined $10,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in private securities transactions and outside business activities. Letter […]

Read More »

Principal Terminates Broker After Excessive Trading Probe

May 17, 2018  |   Posted by :   |   Excessive Trading, Investment and Regulatory News   |   0 Comments

Robert Holmes Gunning of Fresno California a stockbroker formerly employed by Principal Securities Inc. has been terminated from employment on February 8, 2018 following the firm’s investigation into Gunning’s activities for possible excessive trading in customer accounts. FINRA Public Disclosure confirms that Gunning has been identified in two more customer initiated investment related disputes pertaining […]

Read More »

Principal Stockbroker Barred For Failure To Comply

Bettye Clements Hays, of Mobile, Alabama, a stockbroker formerly registered with Principal Securities, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that she failed to provide FINRA with information about her business activities. FINRA Case No. 2017053749201 (June 6, 2017). FINRA Public Disclosure […]

Read More »

Principal Securities Sued By Customer For Suitability

August 26, 2017  |   Posted by :   |   Variable Annuites   |   0 Comments

Fred Shlesinger, of Addison, Texas, a stockbroker registered with Principal Securities, Inc., is the subject of a customer initiated investment related written complaint on February 24, 2017, wherein the customer’s claim was based upon allegations that Shlesinger effected a rollover of the customer’s 401(k) into an annuity despite the transaction having been unsuitable for the […]

Read More »

Aegis Capital Corp Named Customer Churning Claim

Indra Ramsahai, of New York, New York, a stockbroker formerly registered with Aegis Capital Corp, has been named in a customer initiated investment related arbitration claim, which settled on July 18, 2016, for $90,000.00 in damages based upon allegations that Ramsahai churned the customer’s investment account and effected unsuitable leveraged exchange traded fund transactions. Financial […]

Read More »

Principal Securities Fined For Failure To Supervise

January 13, 2017  |   Posted by :   |   Investment and Regulatory News   |   0 Comments

Principal Securities Inc., headquartered in Des Moines, Iowa, has been censured and fined $125,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm failed to create and implement adequate supervision systems pertaining to consolidated reports. Letter of Acceptance, Waiver and Consent, No. 2015043589501 (Dec. 21, 2016). According to the AWC, […]

Read More »

Principal Securities Censured For Overcharging Customers

December 07, 2016  |   Posted by :   |   Investment and Regulatory News   |   0 Comments

Principal Securities, Inc., a broker-dealer headquartered in Des Moines, Iowa, was censured by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm excessively charged its customers through mutual funds transactions, and failed to implement adequately supervisory procedures and protocols to make sure that eligible mutual funds customers received sales charge waivers. Letter […]

Read More »