There are Recent Customer Complaints with Broker Philippus Van staden in Firm Green Vista Capital, LLC

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Philippus Van staden (Van staden), currently associated with Green Vista Capital, LLC, has at least 14 disclosable events. These events include 14 customer complaints, alleging that Van staden recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $1,000,000.00 on January 22, 2025.

CLAIMANTS ALLEGE REASONABLE BASIS UNSUITABILITY; BREACH OF FIDUCIARY DUTY; NEGLIGENCE/GROSS NEGLIGENCE/NEGLIGENCE PER SE; NEGLIGENT MISREPRESENTATION; INTENTIONAL MISREPRESENTATION/OMISSION;AIDING AND ABETTING A FRAUD; NEGLIGENT HIRING, RETENTION, SUPERVISION; BREACH OF CONTRACT; EQUITABLE RESCISSION; DECLARATORY JUDGEMENT

FINRA BrokerCheck shows a pending customer complaint with a damage request of $5,000,000.00 on September 13, 2024.

CLAIMANT ALLEGES BREACH OF FIDUCIARY DUTY; NEGLIGENCE; NEGLIGENCE; NEGLIGENT SUPERVISION; FRAUD; DECLARATORY JUDGMENT; VIOLATION OF SECTIONS 10(b) OF THE SECURITIES EXCHANGE ACT, AND RULE 10b-5 OF THE SECURITIES AND EXCHANGE COMMISSION.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $350,000.00 on August 22, 2024.

CLAIMANT ALLEGES REASONABLE BASIS UNSUITABILITY; BREACH OF FIDUCIARY DUTY; NEGLIGENCE/GROSS NEGLIGENCE/NEGLIGENCE PER SE; NEGLIGENT MISREPRESENTATION; INTENTIONAL MISREPRESENTATION/OMISSION; AIDING AND ABETTING A FRAUD; NEGLIGENT HIRING, RETENTION, SUPERVISION; BREACH OF CONTRACT; AIDING AND ABETTING VIOLATION OF THE FLORIDA SECURITIES AND INVESTOR PROTECTION ACT; EQUITABLE RESCISSION

FINRA BrokerCheck shows a pending customer complaint with a damage request of $1,000,000.00 on August 12, 2024.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $1,000,000.00 on July 29, 2024.

CLAIMANTS ALLEGE BREACH OF FIDUCIARY DUTY; NEGLIGENCE; NEGLIGENT SUPERVISION; MISREPRESENTATION; FRAUD

FINRA BrokerCheck shows a pending customer complaint with a damage request of $1,000,000.00 on May 07, 2024.

CLAIMANTS ALLEGE BREACH OF FIDUCIARY DUTY; NEGLIGENCE; NEGLIGENT SUPERVISION; FRAUD; DECLARATORY JUDGEMENT; VIOLATION OF THE FLORIDA SECURITIES AND INVESTOR PROTECTION ACT; VIOLATION OF SECTIONS 10(b) OF THE SECURITIES EXCHANGE ACT, AND RULE 10b-5 OF THE SECURITIES AND EXCHANGE COMMISSION.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $5,000,000.00 on May 07, 2024.

CLAIMANT ALLEGEs BREACH OF FIDUCIARY DUTY; NEGLIGENCE; NEGLIGENT SUPERVISION; FRAUD; DECLARATORY JUDGEMENT; VIOLATION OF THE FLORIDA SECURITIES AND INVESTOR PROTECTION ACT; VIOLATION OF SECTIONS 10(b) OF THE SECURITIES EXCHANGE ACT, AND RULE 10b-5 OF THE SECURITIES AND EXCHANGE COMMISSION.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $2,000,000.00 on April 10, 2024.

CLAIMANTS ALLEGE VIOLATION OF COMMON LAW FRAUD; BREACH OF FIDUCIARY DUTY; NEGLIGENT FAILURE TO SUPERVISE; NEGLIGENCE; BREACH OF CONTRACT; CONSPIRACY.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $235,000.00 on April 04, 2024.

CLAIMANTS ALLEGE VIOLATIONS OF FEDERAL SECURITIES LAWS; VIOLATIONS OF THE NEW JERSEY UNIFORM SECURITIES LAW; BREACH OF CONTRACT; COMMON LAW FRAUD; BREACH OF FIDUCIARY DUTY; NEGLIGENCE AND GROSS NEGLIGENCE.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $5,000,000.00 on April 02, 2024.

CLAIMANT ALLEGES BREACH OF FIDUCIARY DUTY; NEGLIGENCE; NEGLIGENT SUPERVISION; FRAUD; DECLARATORY JUDGEMENT; VIOLATION OF THE FLORIDA SECURITIES AND INVESTOR PROTECTION ACT; VIOLATION OF THE OREGON SECURITIES LAW; VIOLATION OF SECTIONS 10(b) OF THE SECURITIES EXCHANGE ACT, AND RULE 10b-5 OF THE SECURITIES AND EXCHANGE COMMISSION.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $1,000,000.00 on March 19, 2024.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $650,000.00 on January 08, 2024.

CLAIMANTS ALLEGE UNSUITABILITY, REASONABLE BASIS UNSUITABILITY AND VIOLATION OF BEST INTEREST; BREACH OF FIDUCIARY DUTY; NEGLIGENCE/GROSS NEGLIGENCE/NEGLIGENCE PER SE; NEGLIGENT MISREPRESENTATION; INTENTIONAL MISREPRESENTATION/OMISSION; AIDING AND ABETTING A FRAUD; NEGLIGENT HIRING, RETENTION, SUPERVISION; BREACH OF CONTRACT; EQUITABLE RESCISSION; DECLARATORY JUDGEMENT.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $1,000,000.00 on October 27, 2023.

CLAIMANTS ALLEGE BREACH OF FIDUCIARY DUTY; VIOLATION OF FINRA RULES , BREACH OF CONTRACT AND NEGLIGENCE; AND NEGLIGENT SUPERVISION.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $700,000.00 on May 02, 2023.

CLAIMANTS ALLEGE REASONABLE BASIS UNSUITABILITY; BREACH OF FIDUCIARY DUTY; NEGLIGENCE/GROSS NEGLIGENCE/NEGLIGENCE PER SE; NEGLIGENT MISREPRESENTATION; INTENTIONAL MISREPRESENTATION/OMISSION; AIDING AND ABETTING A FRAUD; NEGLIGENT HIRING, RETENTION, SUPERVISION; BREACH OF CONTRACT; VIOLATION OF THE FLORIDA SECURITIES AND INVESTOR PROTECTION ACT; AIDING AND ABETTING VIOLATION OF THE FLORIDA SECURITIES AND INVESTOR PROTECTION ACT; EQUITABLE RESCISSION

Brokers are required to adhere to the SEC’s Regulation Best Interest (Reg BI) standard of care under the Securities Exchange Act of 1934 which establishes a ‘best interest’ standard for broker-dealers and associated persons. This Reg BI standard of care applies to registered representatives making recommendations to customers in the purchase, sale, or exchange of securities or the implementation of investment strategies involving securities and non-securities. The rule also applies to the handling of opening accounts such as account transfers and types of accounts being recommended to be opened. Reg BI is drawn from fiduciary principles that include an obligation to act in the retail investor’s best interest and the broker is prohibited from placing their own interests ahead of the investor’s interest.

There are several different aspects of the rule that brokers must comply with. One of which is the care obligations which requires brokers to form a reasonable belief that their investment advice and recommendations are in the retail investor’s best interest. The care obligations includes three components. First, the advisor must have an understanding of the potential risks, rewards, and costs associated with a product, investment strategy, account type, or series of transactions. Next, the advisor must have a reasonable understanding of the specific retail investor’s investment profile. The customer’s profile information generally includes an investor’s financial situation and needs; investments; assets and debts; marital status; tax status; age; investment time horizon; liquidity needs; risk tolerance; investment experience; investment objectives and financial goals; and any other information the retail investor may disclose in connection with the recommendation or advice. Using the foregoing information, the associated person then must consider reasonably available investment option to accomplish the investor’s goals as well as alternative investment options that may be cheaper or other important qualities. Finally, the advisor must conclude that there is a reasonable basis to believe that the recommendation being provided is in the investor’s best interest.

Brokerage firms and advisors must also understand the features and limitations of various account types as part of meeting Reg BI’s care obligations. Firms typically offer a variety of account options and services with different trading costs, services, such as account and activity monitoring. An advisor’s recommendation as to what type of securities account to open can alter the customers’ overall costs and investment returns. The advisor must determine that the client can benefit from the type of account being recommended to be opened and in the investor’s best interest taking into account the costs, benefits, and needs of the client.

Van staden entered the securities industry in 2003. Van staden has been registered as a Broker with Green Vista Capital, LLC since 2018.

Investors who have suffered losses are encouraged to contact us at (800) 810-4262 for consultation. At Gana Weinstein LLP, our attorneys are experienced representing investors who have suffered securities losses due to the mishandling of their accounts. Claims may be brought in securities arbitration before FINRA. Our consultations are free of charge and the firm is only compensated if you recover.