Steven Stahler Under FINRA Investigation

June 29, 2014 by Thomas F. Burke, P.C.

On March 25, 2014 the Financial Industry Regulatory Authority ("FINRA"), through a Wells Notice, made a preliminary determination to recommend that disciplinary action be brought against Steven Stahler for potential violations of NASD Rule 2110, NASD Rule 2310 and FINRA Rule 2010.

NASD Rule 2110 entitled "Standards of Commercial Honor and Principles of Trade" states that "A member, in the conduct of his business, shall observe high standards of commercial honor and just and equitable principles of trade."

NASD Rule 2310 entitled "Recommendations to Customers (Suitability)" states that a broker and a brokerage firm must have a reasonable grounds to believe that a customer recommendation to purchase, sell or exchange a security (including a private placement investment) is suitable for the customer.

FINRA Rule 2010 entitled "Standards of Commercial Honor and Principles of Trade" is perhaps the shortest rule in the FINRA rule book yet its effects and power are wide reaching. The rule states "[a] member, in the conduct of its business, shall observe high standards of commercial honor and just and equitable principles of trade."

In addition to the current FINRA investigation, there have been five customer disputes filed against Steven Stahler and three complaints against him where no further action was taken. Steven Stahler also has a judgment lien against him filed by the Iowa Department of Revenue.

If you had dealings with Steven Stahler and believe that you were not given proper investment advice, contact Thomas F. Burke, P.C., 53 W. Jackson Blvd, Suite 1441, Chicago, IL 60604, Telephone Number 312/362-1300, email address tburke104@att.net.

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