Former Western International Securities Financial Advisor, Dennis Mehringer, Barred By FINRA After Failing To Comply With A FINRA Investigation Into Alleged Unsuitable Trading And Other Misconduct
Dennis A Mehringer, Jr. (CRD # 722569) was a Financial Advisor at Western International Securities, Inc. in Pasadena, CA. Dennis Mehringer has been in the securities industry since 1981 and previously worked at First Allied Securities, FSC Securities Corporation and Walnut Street Securities.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in October 2019, Dennis Mehringer was barred by FINRA for refusing to “appear for on-the-record testimony requested by FINRA during the course of an examination involving possible unsuitable trading and other misconduct”
For a copy of the FINRA sanction, click https://www.finra.org/sites/default/files/fda_documents/2019061994701%20Dennis%20A.%20Mehringer%2C%20Jr.%20CRD%20722569%20AWC%20va.pdf.
In addition, Dennis Mehringer has been the subject of eleven customer complaints since 2006, including the following allegations:
- May 2019 – “Unsuitability; Misrepresentation & Fraud; Unauthorized Trading; Breach of Fiduciary Duty.” Alleged damages are $433,079. The matter is currently pending.
- November 2018 – “Unsuitability; Breach of Fiduciary Duty.” Alleged damages are $1,791,558. The matter is currently pending.
- May 2017 – “Customer unhappy with performance of fixed income investment.” The matter settled for $62,250.
- March 2017 – “Unsuitable recommendations.” The matter settled for $45,000.
- May 2014 – “EXCESSIVE & IMPROPER COMMISSION CHARGES IN ADDITION TO UNAUTHORIZED TRADING…” The matter settled for $290,000.
- August 2012 – “OVER CONCENTRATION WITH INADEQUATE PUT COVERAGE.” The matter settled for $81,296.
For a copy of Dennis Mehringer’s CRD, click https://brokercheck.finra.org/individual/summary/722569.
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
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