HUDSON, WISCONSIN Are you a former customer of Steven Schroeder, formerly with Principal Securities, in Hudson, Wisconsin? FINRA recently reported that Steven Schroeder was fired by Principal Securities in October 2023. He had been licensed with the brokerage firm between 1993 and October 2023.

Steven W. Schroeder’s BrokerCheck report reveals that “the firm became aware that the RR [Schroeder] participated in and facilitated private securities transactions with clients, without preclearing the transactions to the firm beforehand”. Essentially, Principal Securities alleged that Schroeder sold investments that were not authorized by the firm.

Licensed financial advisors have a duty to follow FINRA rules while working with brokerage firms. This includes FINRA Rule 3280, which requires advisors to provide prior written notice to their firms of any transaction in which the advisor could receive compensation. Moreover, FINRA Rule 3011 provides that firms must sufficiently supervise their advisors.

Israels & Neuman PLC is an investment fraud law firm that represents investors all over the country, including investors in Wisconsin.

View BrokerCheck report HERE

If you lost money with Steven Schroeder or Principal Securities, please Contact Us at 206-795-5798 for a free evaluation of your case.