FINRA Arbitration Filed Against Western International Securities Over Investment Losses

ARLINGTON, Va. - June 14, 2016 - PRLog -- The claim, filed by The White Law Group, was submitted to FINRA Dispute Resolution on behalf of two Virginia investors alleging claims for violation of common law fraud, breach of fiduciary duty, negligence, and negligent supervision. The claim further alleges that Western International Securities unsuitably overconcentrated the investors in gold and other previous metals causing substantial losses.

The claim seeks damages between $100,000 and $500,000.

Before recommending an investment, a broker-dealer has a fiduciary duty to adequately disclose the risks involved in the investment and to perform the necessary due diligence to determine whether the investment is suitable for the investor.  It is alleged that Western International Securities failed to perform the necessary due diligence on these investments prior to recommending them to these particular investors.

It is further alleged that the financial advisor that handled the accounts at issue Dawn Bennett.  According to her FINRA BrokerCheck Report, Bennett (CRD# 1567052) has been the subject of nine customer disputes. Additionally, Bennett and her firm, The Bennett Group have been charged with fraud by the SEC. The SEC has alleged that Bennett and The Bennett Group made material misstatements and omissions regarding assets that were purportedly "managed" for investors and regarding investment returns for the purpose of retaining existing customers and attracting new customers.

FINRA Dispute Resolution is an arbitration venue for investors with claims against their brokerage firm or financial professional.  It provides investors with an opportunity to attempt to recoup their investment losses and is an alternative to filing such claims in court.

For more information on the claim filed by The White Law Group, please contact the firm's Chicago office at 888-637-5510.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.

For more information on The White Law Group and its representation of investors in FINRA arbitration claims, visit http://www.whitesecuritieslaw.com.