If you have invested with Depere, Wisconsin-based stockbroker Paul Renard, call (860) 920-5181 today for a FREE Consultation regarding your investment loss recovery options.
Paul Renard, of Depere, Wisconsin has been registered with the security industry for 18 years and is listed as working with 7 firms, most recently SII Investments, Inc. According to a recent FINRA report, Paul has 37 disclosures, most of which deal with alleged unsuitable investment recommendations. Allegedly Paul has sold unsuitable, leveraged ETF’s (also known as non-traditional exchange traded funds).
FINRA alleged, when placing the inverse ETF trades, Renard falsely indicated and mismarked several non-traditional-ETF transactions. Renard’s customers were predominantly individual investors, some of whom had modest investment objectives and minimal risk-tolerance. Nonetheless, he allegedly recommended non-traditional ETFs to them. When he was terminated, some of his customers’ nontraditional ETF positions had been open for more than 600 days.
In addition, FINRA found that when one of Renard’s alleged customers complained about the recommended inverse-leveraged ETFs, Renard asked the customer to send further emails to Renard’s external email address. FINRA allegedly found that Renard used this external email to correspond with several customers concerning securities in their accounts. FINRA found that the use of external emails to correspond concerning securities related business was a violation of the FINRA rules.
While all investments involve risk, non-traditional ETFs and ETNs (including inverse or leveraged ETFs) in some cases are considered high risk investments in which investors can suffer substantial losses. Stockbrokers like Paul Renard have a regulatory duty to ensure that any recommendation to purchase these types of investments are suitable for the needs of each customer. Both stockbrokers and the brokerage firms they are registered with may be held liable for investment recommendations that are unsuitable for clients.
If you are an investor that has suffered losses investing with Paul Renard, you may be able to pursue a recover to your losses through FINRA arbitration or securities litigation. Please call Kons Law Firm at (860) 920-5181 for a FREE, NO OBLIGATION consultation to discuss your investment loss recovery options.
Kons Law Firm represents investors nationwide in securities arbitration and litigation matters. To learn more about the Firm’s securities litigation and FINRA arbitration practice, please visit www.investmentfraudattorneys.com.
