Dennis Albert Mehringer Jr. (Dennis Mehringer), a Pasadena, California, former broker and investment adviser was barred by the Financial Industry Regulatory Authority (FINRA) for allegedly refusing to appear for on-the-record testimony requested by FINRA during the course of an investigation against him, according to an investigation by investor rights attorney, Alan Rosca.
Investor rights attorney Alan Rosca of the Rosca Scarlato LLC law firm is investigating activities related to the alleged refusal by Dennis Mehringer to appear for on-the-record testimony requested by FINRA in an investigation against him.
Prior to this allegation, Dennis Mehringher was employed to Western International Securities INC, a FINRA member firm. However, he was not in the employment of any firm at the time this allegation was brought against him in 2019.
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Dennis Mehringer Barred for Refusing to Appear for On-The-Record Testimony Requested by FINRA.
FINRA initiated an investigation in 2019 against Dennis Albert Mehringer on allegations of conduct involving possible unsuitable trading and other misconducts according to the reports on his FINRA Brokercheck page. In the course of the investigation, it was alleged that Dennis A. Mehringer refused to honor and appear for on-the-record testimony requested by FINRA.
Dennis Mehringer, who allegedly communicated through his counsel, acknowledged the receipt of the request and allegedly affirmed that he would not be appearing at any time. This alleged refusal was in violation of FINRA Rules 8210 and 2010.
These allegations were settled by the signing of an Acceptance, Waiver and Consent order. Dennis Mehringer, without admitting or denying the findings, signed the order and consented to the sanction, which provided for his indefinite bar in all capacities.
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Dennis Mehringer Has a FINRA Sanction on Appeal
In a 2016 FINRA regulatory action against him, Dennis Mehringer was the respondent to allegations that he made unsuitable recommendations to a client that caused the client to engage in excessively expensive short-term trading and intra-day switching of mutual fund Class A shares.
As contained on his FINRA Brokercheck page, Dennis Albert Mehringer repeatedly recommended short-term purchases and sale of 84 mutual fund Class A positions. About of 67 of these 84 mutual fund positions were held for less than six months with 35 of them being held for just three months and five were even held for less than a week.
He allegedly received $169,735 in commission from the transactions described above. It was alleged that Dennis Mehringer had unreasonable grounds to recommend the various short-term transactions as it was regarded unsuitable to the client. It was further alleged that Dennis Mehringer exercised discretion over the client account without getting proper authorization from the client or even his firm.
In 2018, Dennis A. Mehringer was fined $50,000 and barred from the association in all capacities. He was also ordered to return $108,131.21 and pay $6,568.43 in costs. It should be noted that this regulatory action is under a pending appeal.
Mehringer Has Been the Subject of Various Customer Disputes
Dennis Albert Mehringer is currently the subject of a customer dispute requesting $3,084,342.00 for allegations of unsuitability and breach of fiduciary duty. As of the date of this article the dispute shows as pending.
Mehringer settled a customer dispute in 2019 on the allegations of unsuitability, misrepresentation and fraud, unauthorized trading and breach of fiduciary duty. The customer sought $433,079 in damages but it was settled for $225,000.
A customer dispute from 2018 against Dennis Mehringer was based on similar allegations of unsuitability and breach of fiduciary duty with the customer seeking $1,761,558 in damages and the settlement amount accepted being $1,000,000.
Dennis A. Mehringer also settled a customer dispute to the tune of $62,250. It was on the allegations that the customer was not happy with the performance of the fixed income investment recommended by him.
Prior to the pending appeal, Dennis Mehringer also settled a customer dispute in 2014. His allegations were based on excessive and improper commission charges in addition to unauthorized trading during the period of 2010 to 2013. The customer sought $165,000 in damages which was eventually settled for $290,000.
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog.
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Securities Lawyer Investigating Potential Options on Behalf of Dennis Mehringer Customers
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or misconduct and is currently investigating conducts related to Dennis Mehringer’s bar for failure to comply with FINRA’s investigations and his pending regulatory sanction appeal.
The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Investors who believe they lost money as a result of conducts related to Dennis Mehringer’s bar for failure to comply with FINRA’s investigations and his pending regulatory sanction appeal may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.