Securities Lawyers Blog
The attorneys at Gana Weinstein LLP are investigating BrokerCheck records reports that financial advisor Richard Cagle (Cagle), formerly employed by Hilltop Securities Independent Network Inc. (Hilltop Securities) has been subject to at least two customer complaints and one regulatory complaint resulting in a bar from the financial industry. According to records kept by The Financial Industry Regulatory Authority (FINRA), Cagle’s customer complaints allege that Cagle recommended unsuitable securities recommendations among other allegations of misconduct in the handling of customer accounts.
In July 2019 Cagle consented to the sanction and to the entry of findings that he refused to appear and provide an on-the-record testimony requested by FINRA. FINRA stated that it commenced an investigation into whether Cagle violated FINRA rules by making unsuitable investment recommendations and mismarking customer order tickets while associated with his former member firm. Cagle’s failure to respond to the investigation drew an automatic bar from the industry.