Investors Seek $1.4 Million in Disputes with Philip van Staden

Philip van Staden (CRD #: 4489166), a broker registered with Green Vista Capital, is involved in two pending disputes, according to his BrokerCheck record, accessed on June 15, 2023. Investors may have also worked with him through Green Vista Asset Management. Read on to learn more about his alleged conduct as a broker.

Pending Disputes

On May 2, 2023, multiple investors filed a dispute naming Philip van Staden in the following allegations:

• Aiding and abetting fraud
• Violation and aiding and abetting violation of the Florida Securities and Investor Protection Act
• Lack of reasonable basis suitability
• Gross negligence
• Negligent and intentional misrepresentation/omission
• Negligent hiring, retention, and supervision
• Breach of contract

The clients seek $700,000 in damages in this pending dispute.

On August 24, 2022, several investors named Philip van Staden in allegations of unsuitable recommendations, gross negligence, negligent hiring and retention, and negligent supervision of outside business activities. They seek $700,000 in this pending dispute.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take into account investors’ financial goals when recommending investments. Brokers must consult the investor’s profile, which contains information about their tax status, risk tolerance, and age.

Investors who rely on their broker for recommendations may be able to recoup their losses through FINRA arbitration.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of deception, manipulation, and other fraudulent methods to influence investors’ decisions. The misrepresentation or omission of material facts violates this rule.

FINRA Rule 3110

FINRA Rule 3110 requires that firms establish systems of supervision to maintain their compliance with securities regulations. This includes appointing supervisors and providing them with Written Supervisory Procedures (WSPs).

FINRA Rule 3270

FINRA Rule 3270 requires brokers to seek and receive approval from their firm for any outside business activities they engage in.

What are Blue Sky Laws?

Blue sky laws are state securities regulations that provide investors with an extra layer of protection against fraud. They typically also define which types of investments must register with the state securities board.

What is broker negligence?

Brokers may act in many negligent ways, including misrepresenting material facts, recommending unsuitable investments, or executing excessive trades.

Investors who feel their losses are the result of broker negligence may be able to recover their funds by seeking out FINRA arbitration.

Settled Disputes

In disputes filed on May 3 and 4, 2021, investors named Philip van Staden in allegations of failure to conduct reasonable due diligence on conservation easement investments made from 2015-2019.

The clients further alleged that these investments were unsuitable and misrepresented. These disputes were settled for $240,000.

Regulation Best Interest

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor.

Background Information

Philip van Staden has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 14 – Compliance Officer Examination
• Series 24 – General Securities Principal Examination

Philip van Staden is a registered broker in 42 states and the District of Columbia. He is also a registered investment adviser in Florida, Louisiana, Pennsylvania, and Texas.

He has also worked for The Strategic Financial Alliance (CRD#:126514) and G. A. Repple & Company (CRD#:17486).

Kurta Law Can Help

If you worked with Philip van Staden and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.