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Richard Reynolds Involved in $1.6 Million Investor Dispute

Feb 15, 2022 Investor Disputes

Richard Reynolds (CRD #:2162706), a broker registered with SW Financial, is involved in an investor dispute, according to his BrokerCheck record, accessed on January 11, 2022.

On October 18, 2021, Richard Reynolds was involved in an investor dispute alleging unsuitable investments, unauthorized trading, churning, and fraud. The investor is seeking $1,606,034.39一the case is still pending.

Prior Investor Dispute

On May 7, 2018, an investor filed a dispute against Richard Reynolds alleging churning, improper use of margin, unsuitability, and high commissions. The case was settled for $150,000.

State of Illinois Registration Revocation

On March 30, 2016, The State of Illinois revoked Richard Reynolds’ registration as a salesperson for a period of two years based on the following regulatory disclosures:

  1. A New York Stock Exchange order, which censured and barred his New York Stock Exchange registration for five months after allegedly violating various New York Stock Exchange Rules. 
  2. Being denied registration as a salesperson in the State of Michigan after allegedly engaging in dishonest or unethical practices. 

Background Information

Richard Reynolds has passed the following exams:

  • Series 63 - Uniform Securities Agent State Law Examination
  • SIE - Securities Industry Essentials Examination
  • Series 7 - General Securities Representative Examination
  • Series 24 - General Securities Principal Examination

He is a registered broker in 13 states.

Besides SW Financial, Richard Reynolds has also worked with: 

  • Worden Capital Management(CRD#:148366)
  • Rockwell Global Capital (CRD#:142485)
  • American Capital Partners (CRD#:119249)
  • Janney Montgomery Scott (CRD#:463)
  • Gruntal & Co. (CRD#:372)
  • Rickel & Associates (CRD#:7839)
  • South Richmond Securities (CRD#:14913)

Kurta Law Can Help

If you suffered losses after working with Richard Reynolds, don't hesitate to contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For nearly 20 years, Kurta Law has advocated for investors 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.