Dennis A. Mehringer, Jr., Registered Rep Formerly with Western International Securities, Inc. Has Been Sanctioned by FINRA for Failure to Cooperate with a FINRA Investigation
Publicly available records recently provided by the Financial Industry Regulatory Authority (FINRA) indicate that broker/advisor Dennis A. Mehringer, Jr. (CRD # 722569), formerly with Pasadena, CA based Western International Securities, Inc. (CRD # 39262) was recently sanctioned by FINRA’s Department of Enforcement for failing to cooperate with a FINRA investigation after being terminated for unsuitable trading and other misconduct. The Law Office of Kevin J. Deloatch, Esq. is interested in speaking to investors who have complaints regarding Mr. Mehringer, Jr.
Mr. Mehringer, Jr. has been registered in the securities industry since 1981 and has been with Western International Securities, Inc. from March 2009 until his termination in May 2018. His prior registrations included First Allied Securities, Inc. (CRD # 32444) from May 2004 to March 2009 and FSC Securities Corporation (CRD # 7461) from August 2001 to June 2004.
FINRA’s Finding and Conclusions
According to FINRA Letter of Acceptance, Waiver and Consent (AWC) dated October 18, 2019, Mr. Mehringer, Jr. consented to the following findings by FINRA’s Department of Enforcement, without either admitting or denying:
- In March 2019, FINRA began investigating Mr. Mehringer, Jr. regarding whether he engaged in unsuitable recommendations and other misconduct during the period January 2017 through May 2018;
- On September 9, 2019 FINRA sent a request to Mr. Mehringer, Jr. to appear for on-the-record testimony in furtherance of the investigation; and
- On October 2, 2019, Mr. Mehringer, Jr. acknowledged that he received FINRA’s request and advised that he would not appear for on-the-record testimony.
FINRA Sanctions Dennis A. Mehringer, Jr.
Pursuant to FINRA Rule 8210, registered individuals are required to provide information with respect to a FINRA investigation. Violation FINRA Rule 8210 is also a violation of FINRA Rule 2010, which requires associated persons to “observe high standards of commercial honor and just and equitable principles of trade.” As a result of such violations and in addition to the above described findings and conclusions, FINRA’s October 18, 2019 AWC also indicates that Mr. Mehringer, Jr. consented to the following sanction:
- Being barred from associating with any FINRA member firm in any and all capacities.
Mehringer, Jr. has a History of Customer Complaints Regarding Securities Fraud
In addition to the above, according to FINRA BrokerCheck, Mr. Mehringer, Jr. has been the subject of a number of customer initiated arbitrations and/or civil law suit(s), and customer complaints regarding securities fraud.
- On October 17, 2008 a customer initiated a civil suit in the Superior Court of California, Los Angeles County alleging Mehringer, Jr. gave erroneous advice with regards to an investment. The civil suit was settled on October 28, 2009 in the amount of $75,000.00.
- On May 22, 2009 a customer initiated arbitration was filed against Mr. Mehringer, Jr. alleging damages in the amount of $433,079.00 for unsuitability, misrepresentation, fraud, unauthorized trading and breach of fiduciary duty while he was employed/associated with Western International Securities, Inc. The arbitration was settled on December 11, 2009 in the amount of $225,000.00.
- On May 17, 2017 a customer filed a complaint with Western International Securities, Inc. against Mr. Mehringer, Jr. regarding the performance of a fixed income security. The customer alleged damages in the amount of $62,250.00. The complaint was settled on May 17, 2017 in the amount of $62,250.00.
- On January 10, 2017 a customer initiated arbitration was filed against Mr. Mehringer, Jr. alleging damages in the amount of $231,688.55 for unsuitability while he was employed/associated with Western International Securities, Inc. The arbitration was settled on April 4, 2018 in the amount of $45,000.00.
- On July 24, 2015, a customer filed a complaint with Western International Securities, Inc. against Mr. Mehringer, Jr. regarding an investment in a corporate debt security. The customer alleged damages in the amount of $47,000.00. The complaint was settled on July 24, 2015 in the amount of $47,000.00.
- On April 29, 2015 a customer initiated arbitration was filed against Mr. Mehringer, Jr. alleging breach of fiduciary duty, fraud, misrepresentation, negligence and negligent supervision breach of contract, violation of state and federal securities laws, failure to supervise and breach of FINRA rules while he was employed/associated with First Allied Securities Inc., and Western International Securities, Inc. The arbitration was settled on May 24, 2016 in the amount of $290,000.00. Mr. Mehringer, Jr. was required to contribute to the settlement in the amount of $45,000.00.
- On August 6, 2012 a customer filed a complaint against Mr. Mehringer, Jr. alleging damages in the amount of $140,000.00 for over concentration with inadequate put option coverage. The complaint was settled on October 10, 2012 in the amount of $81,296.00.
If you or someone you know has or had a brokerage account with Denins A. Mehringer, Jr. and have concerns regarding losses in your investments or fraud, you may be entitled to recover lost funds. The Law Office of Kevin J. Deloatch, Esq. has an extensive securities law practice and over 30 years of experience on Wall Street. Call today at (646) 792-2156 for a free consultation. The time to file your claim may be limited so you should call today to avoid delay.