According to a FINRA investigation, Richard Grant Cody violated Rules 2310 and 2110 by recommending transactions in customer accounts that were quantitatively and qualitatively unsuitable for the customers; violated Rule 2110 by sending customers misleading and unapproved account summaries; and also violated Rule 2110 by failing to update his Form U4 in a timely manner to disclose two settlements with customers. For the suitability violations, FINRA elected to suspend Richard Grant Cody in all capacities for three months and fine him $20,000. For the misleading and unapproved account summaries, Cody was fined $5,000; and for the Form U4 violation, Cody was fined $2,500.
This decision appears to have been appealed.
According to Richard Grant Cody’s FINRA Broker Report, he appears to have also been named in at least three customer disputes related to securities fraud, for among other things, unsuitability.
If you have questions about investments you made with Richard Grant Cody or Gunnallen Financial, or if you believe that you have been the victim of a securities fraud, the Law Offices of David A. Carter, P.A. may be able to help. The Law Offices of David A. Carter, P.A. is a South Florida securities fraud, securities arbitration, investor protection, and Chapter 7 bankruptcy law firm based in Boca Raton. David Carter is a securities attorney that reviews securities fraud cases throughout the country and Florida, including securities cases in Orlando, Jacksonville, Tampa, Tallahassee, Gainesville, and West Palm Beach. To contact the Law Offices of David A. Carter, P.A., please call 561-750-6999, or email us at contact@carterpa.com. For more information about the Law Offices of David A. Carter, P.A., you can also visit our website at www.carterpa.com.