Thomas Gregory Scheiman (CRD #1508288) Has Customer Dispute and Regulatory Disclosures on FINRA BrokerCheck

Thomas Gregory Scheiman (CRD #1508288) has been the subject of disclosure events that have been reported on his FINRA BrokerCheck profile. If you have worked with Thomas Gregory Scheiman and you have concerns about his activity, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Investor Disputes / Customer Complaints

Thomas Scheiman FINRA BrokerCheck Report reflects one customer dispute disclosure. A summary of the dispute is below:

On January 20, 2025, a customer allegedly reported that registered representative Jeffrey Rocheck invested customers in a non‑existing real estate investment from 2017 through April 2024, and the disclosure lists an alleged damages amount of $100,000. The matter evolved into a FINRA arbitration (Docket/Case # 25-00101) and is listed as pending.

Regulatory Actions

Thomas Scheiman FINRA BrokerCheck Report reflects two regulatory action disclosures. Summaries are below:

On November 17, 2025, FINRA reported a final regulatory action resolved through an Acceptance, Waiver & Consent (AWC) (Docket/Case No. 2022074289901). Without admitting or denying the findings, Thomas Scheiman consented to findings that he willfully violated Exchange Act Rule 15l‑1(a)(1) (Reg BI) and FINRA Rule 2010 in connection with recommending that one customer invest in a GWG bond without having a reasonable basis to believe the recommendation was in the customer’s best interest in light of the customer’s stated investment profile. The disclosure reflects a two‑month suspension beginning December 15, 2025, a $5,000 fine, and $2,600 in disgorgement plus interest.

On August 30, 1999, the National Association of Securities Dealers (NASD) reported a final regulatory action resolved through an Acceptance, Waiver & Consent (AWC) (Docket/Case No. C8B990028). The disclosure states the firm, acting through Thomas Scheiman, effected securities transactions when it failed to maintain the minimum required net capital (SEC Rule 15c3‑1; NASD Rule 2110). The sanctions listed include a $2,000 fine.

Rule summary #1: FINRA Rule 3110 (Supervision)

FINRA Rule 3110 (Supervision) requires firms to establish and maintain a supervisory system that is reasonably designed to achieve compliance with applicable securities laws and regulations and FINRA rules, including procedures to review and monitor associated persons’ activities.

Rule summary #2: FINRA Rule 2111 (Suitability)

FINRA Rule 2111 (Suitability) generally requires brokers and firms to have a reasonable basis to believe a recommended transaction or investment strategy is suitable for the customer based on the customer’s investment profile and the facts of the recommendation.

Why this Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation designed to strengthen the standard of conduct that broker-dealers owe to retail investors when making recommendations about securities transactions or investment strategies. Adopted by the U.S. Securities and Exchange Commission and effective as of June 30, 2020, Reg BI aims to enhance investor protection while preserving investor access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in the best interest of the retail customer at the time a recommendation is made, and not to place their own financial or other interests ahead of the customer’s. This represents a higher standard than the historical “suitability” requirement, which only required that recommendations be suitable, not necessarily optimal or conflict-free.

Reg BI is built around four key obligations:

1. Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and recommendations, including fees, scope of services, and conflicts of interest.
2. Care Obligation – Recommendations must be made with reasonable diligence, care, and skill, considering costs, risks, and alternatives.
3. Conflict of Interest Obligation – Firms must identify, disclose, and mitigate or eliminate conflicts, particularly those that create incentives to favor one product over another.
4. Compliance Obligation – Firms must establish policies and procedures designed to ensure compliance with Reg BI as a whole.

Importantly, Reg BI applies at the recommendation level, not as a continuous duty like the fiduciary standard applicable to registered investment advisers. Still, it significantly narrows the gap by emphasizing cost considerations, conflict management, and investor-focused decision-making.

Overall, Regulation Best Interest seeks to promote transparency, improve the quality of investment recommendations, and reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on his BrokerCheck Report, Thomas Scheiman:

• Is currently registered with Independence Capital Co., Inc.
• Has passed the Series 53, Series 4, Series 27, Series 24, Series 52TO, Series 99TO, Series 57TO, SIE, Series 7, and Series 63 exams.
• Was previously registered with firms that include H.D. Vest Investment Securities, Inc. and Robert Thomas Securities, Inc.

Kurta Law Can Help

If you have worked with Thomas Scheiman and you have concerns about your investments, it may be worth speaking with a securities attorney to better understand the situation and the investments involved. Contact Kurta Law at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

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