UPDATE! DONALD SOUTHWICK of Troy, MI
Former President of CSSC Brokerage Services Suspended and Fined for Failing to Adequately Supervise Donald Southwick
Have you lost money with financial advisor Donald Southwick of Troy, Michigan? We are continuing our investigation into allegations made by FINRA (the Financial Industry Regulatory Authority), against Donald P. Southwick. In 2017, FINRA suspended Southwick six months from the securities industry.
In June 2018, FINRA fined Alexander Martin $10,000 and suspended him for 20 days, after it alleged that Martin failed to reasonably supervise Donald Southwick. Martin is the former President of CSSC Brokerage Services.
FINRA alleged that Donald Southwick offered and sold to his clients bonds and bridge loans for the parent company of his brokerage firm, CSSC Brokerage Services. The bond offering was called the Consulting Services Support Corporation convertible debenture bond offering. FINRA alleged that Southwick failed to do adequate due diligence on these investments and in some instances made unsuitable investment recommendations. It was also alleged that the parent company defaulted on the loans and has failed to pay investors back.
Donald Southwick was a financial advisor and registered representative of CSSC Brokerage Services from June 2012 to October 2015. He worked at a branch office in Troy, Michigan. Southwick has been the subject of at least two prior customer complaints.
Brokerage firms like CSSC Brokerage Services have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms 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 Ann Arbor, Michigan; Denver, Colorado; and the Seattle area. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Michigan. Attorney Aaron Israels is licensed to practice law in Michigan, he grew up in Holland, Michigan and also lived for many years in the Detroit area. We have also represented a number of victims who had their money stolen by Michigan brokers, including Christopher Tolmacs. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
Click to view: Martin, Alexander FINRA AWC
Click to view: Southwick, Donald FINRA AWC (1)
Click to view: Southwick, Donald BrokerCheck 10.2.17 (1)
If you lost money with Donald Southwick, Robert Themm, or CSSC Brokerage Services, please CONTACT US 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.
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