The Ohio Department of Commerce has issued an order to Toledo investment adviser, Dock Treece, stating it intends to suspend his securities license and shut down his investment firms.
The department’s division of securities last month notified Dock Treece of Treece Financial Services Corp. and Treece Investment Advisory Corp., that it intends to issue a “cease and desist” order unless Mr. Treece requests a hearing to contest the order.
The order states that, as an adviser selling securities, Mr. Treece has a duty to inquire about the financial needs of clients and whether the securities he sells them meet those needs. The order alleges that the company doesn’t proactively call or meet with clients to discuss their needs other than initial meetings, and nearly all clients’ assets are placed “into the same funds in identical proportions.”
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Dock Treece Broker | Dock Treece Broker Lawsuit
According to Dock Treece’s BrokerCheck report, the state of Ohio alleges Mr. Treece did not properly disclose grievances previously filed with FINRA. They also allege that he failed to follow the “know your customer” and “customer identification” requirements while opening new customer and client accounts.
Peiffer Wolf Carr & Kane is currently investigating Dock Treece’s practices, as well as the products he recommended to individual investors. Concerns about possible broker misconduct and investment fraud are serious, and we are committed to fighting on behalf of investors. Contact Us Today for a FREE Consultation. 585-310-5140
If you believe you were a victim of predatory lending, investment fraud, or broker misconduct, it is imperative to take action. Peiffer Wolf Carr & Kane has represented thousands of victims, and we remain committed to fighting on behalf of investors. We focus on identifying parties that are not only liable but have the financial ability to compensate victimized investors. Our goal is to put money back into our clients’ pockets.
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