Larry C. Wolfe, formerly of Boca Raton, Florida HJ Sims, Under Investigation Over Unauthorized Trading

Silver Law Group is investigating former Boca Raton, Florida-based Herbert J. Sims & Co. Inc. (CRD# 3420) (“HJ Sims”) broker Larry Charles Wolfe (CRD# 502361) after five (5) customers filed complaints alleging unauthorized trading.

According to Wolfe’s FINRA BrokerCheck report, Wolfe has thirteen (13) disclosures.

Allegations of churning, unsuitability and unauthorized trading against Wolfe date back to a 1991 FINRA arbitration award and a 2001 settlement.  The allegations then ramped up starting in 2010.

In 2010 and 2013, two (2) FINRA arbitration claims settled against Wolfe, both of which alleged unauthorized trading.  Then in December 2015, HJ Sims discharged Wolfe for allegedly exercising discretion in a non-discretionary account.  Additionally, Wolfe allegedly failed to appropriately re-title a client’s account upon learning that the client was deceased.

Since HJ Sims discharged Wolfe, numerous complaints alleging unauthorized trading, unsuitability, and misrepresentation have been filed in the FINRA arbitration forum.

HJ Sims employed Wolfe from 2000 until his discharge.  Following HJ Sims, Aegis Capital Corp. (CRD# 15007) briefly employed Wolfe.  Now, Wolfe is employed by Stoever, Glass & Company Inc. (CRD# 7031).  Wolfe was based out of the Boca Raton, Florida

Unauthorized trading is when a broker facilitates a transaction without the permission of the customer in a non-discretionary account.  According to FINRA, it is one of the common investor issues along with misrepresentation, cold-calling, and unsuitability.

Unauthorized discretion is a serious form of broker misconduct.  A broker’s employing firm is responsible for overseeing the broker to prevent such misconduct.  Failure to supervise is a claim made against a brokerage firm in these situations.

FINRA arbitration is a fast, efficient way to recover your lost investment funds due to unauthorized trading.  We work on a contingency fee basis, meaning you pay us nothing unless we win and recover money for you.

If you have invested with Larry C. Wolfe and Herbert J. Sims & Co. (HJ Sims) and have lost money doing so, you may be able to recover some or all of your losses.  Our lawyers are experienced in recovering investor losses due to broker and brokerage firm misconduct through FINRA arbitration.

Silver Law Group represents the interests of investors who have been the victims of investment fraud.  If you have questions about your legal rights, please contact Scott Silver of the Silver Law Group for a free consultation at ssilver@silverlaw.com or toll free at (800) 975-4345.