Investment Loss Recovery Group (IRG) is currently investigating complaints against former financial adviser and securities agent Christopher C. Hellman, who worked for Merrill Lynch, Pierce, Fenner & Smith, Inc., in Boca Raton, Florida, from September 2016 during September 2018.
Lately, IRG obtained a $440,000 settlement on behalf of one of Mr. Hellman’s former clients who alleged that he had misappropriated funds. In December 2018, the Financial Industry Regulatory Authority (FINRA) permanently barred Mr. Hellman from associating with any FINRA member in any capacity.
The attorneys of Investment Loss Recovery Group possess a comprehensive financial services industry background and more than 40 years of combined legal expertise. They have recovered damages for wronged investors around the nation through securities arbitration, litigation, negotiation, and compensation. If you suffered investment losses later working with Mr. Hellman and his former broker company, contact Investment Recovery Group today. They will thoroughly review your case at a free consultation.
Who’s Christopher Hellman?
You can find information about Christopher C. Hellman (CRD# 6584084) Through two publicly available databases — the Investment Adviser Registration Depository (IARD) and the FINRA Central Registration Depository (CRD).
Mr. Hellman entered the securities industry in January 2016. From January 2016 through August 2016, he had been registered with FMS Bonds, Inc., in North Miami Beach, Florida. He then went to work for Merrill Lynch, Pierce, Fenner & Smith, Inc., in its own Boca Raton branch out of September 2016 through September 2018, once the company discharged him for”behavior such as failure to adhere to business standards regarding selling away and failure to fully disclose participation in outside business activities.”
“Selling away” occurs when a broker solicits clients to buy securities the broker’s firm doesn’t provide or include in its list of approved products. Generally, a brokerage firm limits its brokers to suggesting or selling only those products which it’s approved after doing due diligence. Additionally, brokers must disclose their external business activities so that the firm can determine whether these activities present conflicts of interest.
FINRA Investigation of Christopher C. Hellman
Back in November 2018, Mr. Hellman signed a FINRA Letter of Acceptance, Waiver, and Consent (FINRA No. 2018060168801) in which he agreed to the following findings:
FINRA launched an investigation of Mr. Hellman after Merrill Lynch filed a Form U5 terminating his registration October 16, 2018. Ten days later, FINRA sent a petition to Mr. Hellman for files and other details.
Even though he confessed FINRA’s petition, Mr. Hellman informed FINRA on November 19, 2018 (during his counsel) that wouldn’t create the records or other requested information. In December 2018, FINRA barred him from associating with any FINRA member in any capacity owing to his failure to cooperate.
What Are the Complaints Against Christopher C. Hellman? Both complaints arose out of his alleged conduct while working with Merrill Lynch. One complaint led to a settlement. Another one is pending.
- IRG represented a customer who registered a complaint in September 2018, alleging that Mr. Hellman misappropriated funds on October 23, 2017. The customer alleged $600,000 in damages. The situation involved a debt-municipal product. As we stated above, the case settled for $440,000.
- In November 2018, a customer filed a complaint which accused Mr. Hellman of misappropriation of funds and also selling away on May 25-26, 2017. It entails”private pensions” and $155,000 in alleged damages.
How Can You Recover Investment Losses Involving Mr. Chris Hellman?
Agents have a duty to comply with FINRA rules, which are designed to Protect clients. Additionally, FINRA imposes a duty on brokerage companies to oversee the behavior of the employees and to ensure their compliance with all FINRA rules. If a broker violates FINRA principles or participates in other illegal activity, and the customer suffers financial losses as a consequence of the agent misconduct, the individual agent and the company can be held liable.
Investment Loss Recovery Group attorneys are former licensed Securities brokers and brokerage firm defense attorneys who currently focus solely on protecting the rights of investors. We want to recoup our clients’ investment losses through personal and confidential mediation proceedings. They also help clients to recover damages through settlement and mediation. They work with investors throughout the country.
In case you suffered financial losses after working with Christopher C. Raton, Florida, They will work with you to develop a plan that is aimed at optimizing the recovery of your investment reductions. Telephone or reach them online today to find out more and speak about your case in a free and confidential consultation.