WESTLAKE VILLAGE, CA, USA, July 9, 2024 /EINPresswire.com/ — National investment loss and securities lawyers KlaymanToskes issues an important notice to customers of financial advisor David Karin (CRD# 2486154) and Western International Securities. The law firm urges customers who suffered investment losses with David Karin at Western International Securities to contact the firm immediately at 888-997-9956.
KlaymanToskes reports that the firm has launched an investigation into Western International Securities’ Westlake Village, CA branch, and financial advisor David Karin. Recently, Western International Securities and its advisors have encountered a series of regulatory issues, including allegations of misconduct, prompting concerns regarding the firm’s compliance practices and the best interests of its clients.
In June 2022, the Securities and Exchange Commission charged Western International Securities and five of its registered financial advisors with violations related to the sale of alternative investments such as GWG L Bonds. Most recently, Western International consented to a censure and agreed to pay over $870,000 in fines and restitution to customers, in connection with unsuitable recommendations to its customers to invest in non-traded REITs and ETFs.
Financial advisors and their firms may be held liable for any losses incurred by their customers in the event of unsuitable investment recommendations, misrepresentations or omissions of material facts, and/or an overconcentration of the customer’s portfolio in one particular investment, class, or market sector. Further, financial professionals and their firms cannot disregard a customer’s risk-tolerance when making investment recommendations.
Investors can learn more about their broker/advisor and brokerage firm through FINRA BrokerCheck – a free tool provided by the Financial Industry Regulatory Authority that discloses brokers’ licensing, employment history, and most importantly, public disclosures including customer complaints and arbitration awards.
Current and former customers of David Karin who suffered investment losses at Western International Securities are encouraged to contact attorney Steven D. Toskes at (888) 997-9956 or by email at investigations@klaymantoskes.com in furtherance of our investigation.
About KlaymanToskes
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
Contact
Steven D. Toskes, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
investigations@klaymantoskes.com