REGAL SECURITIES SUBJECT OF FINRA INVESTIGATION OVER RAYMOND ADCOCK, CHARLES FERRILL, TALON LLC, AND TALON CAPITAL LP
We are currently investigating allegations made against Raymond L. Adcock, a financial advisor from Cabot, Arkansas who previously worked with Regal Securities. Regal Securities was the subject of a recent FINRA investigation over its alleged failure to supervise the activities of Raymond Adcock. FINRA fined Regal Securities $25,000 for its supervisory failures.
The Arkansas Securities Department previously brought a regulatory action against Mr. Adcock, making allegations that he sold investments in companies called Talon LLC and Talon Capital LP. It was alleged that Adcock was one of the principals and owners of the Talon entities. In a similar matter, the Arkansas Securities Department also brought claims against the other principal of Talon, Charles Ferrill.
Arkansas alleged that Talon had issued $465,000 in promissory notes to investors. Talon LLC was purported to serve as a “hedge fund incubator” for an eventual hedge fund to be operated by Talon Capital. Eventually an account was to be opened by Talon Capital and that it would earn money by its trading strategy. However, it was alleged that Ferrill withdrew money from the Talon accounts to pay personal expenses.
Moreover, once Talon Capital opened an account, Raymond Adcock was the advisor that serviced the account. Adcock then earned $78,000 in commissions from trading the account. Arkansas also alleges that the Talon entities lost money on the trading. To settle these allegations, Adcock agreed to be barred from the securities industry in Arkansas.
Raymond Adcock was a registered representative and financial advisor of Regal Securities from 2007 to April 2015. He worked at a branch office in Cabot, Arkansas. Charles Ferrill was with Regal Securities from 2007 to May 2011.
Broker-dealers like Regal Securities have a responsibility to adequately supervise all representatives who are registered through their firm, including investments sold by their registered representatives. Broker-dealers also must take steps to ensure that their financial advisors follow all securities rules and regulations, such as to refrain from excessively trading a customer’s account. When broker-dealers fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado and the Seattle area. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Arkansas. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
Click to view: Ferrill, Charles BrokerCheck 9.21.16 (1)
Click to view: Ferrill Arkansas Cease and Desist (1)
Click to view: Adcock, Raymond BrokerCheck 9.21.16 (1)
Click to view: Adcock Arkansas Consent Order (1)
Click to view: Regal Securities FINRA AWC
IF YOU LOST MONEY WITH RAYMOND ADCOCK OR REGAL SECURITIES, PLEASE CONTACT ISRAELS & NEUMAN AT (720) 599-3505 FOR A FREE EVALUATION OF YOUR CASE.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.