Herbert J. Sims & Co, Inc. broker Edward Muster (CRD# 1012341) is accused of unauthorized trades. He has been registered with Herbert J. Sims & Co, Inc. in Boca Raton, Florida, from 1998 to 2020.
Edward Muster Customer Complaints
He has been the subject of five customer complaints between 2020 and 2023, one of which was denied and one was closed without action, according to his CRD report:
December 2023. “SOC states that investments were not in the best interest of the client and that all risks were not disclosed.” The customer is seeking $500,000 in damages, and the case is currently pending. The complaint was regarding private placement losses.
September 2021. “Misrepresentation, unauthorized trading.” The case was settled for $1,000,000. The complaint was regarding private placement losses.
February 2021. “Client was upset that his account was not monitored by RR, feels he should have been notified as to what to get rid of besides what to buy (had 3 corporate debt defaults). Client requested to be made whole on the 3 investments.” The case was settled for $15,000. The complaint was regarding corporate debt losses.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Herbert J. Sims & Co, Inc. may be liable for investment or other losses suffered by Edward Muster’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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