Denver, Colorado Financial Advisor Has 21 Disclosures on BrokerCheck

If you suffered losses while working with Western International Securities registered investment advisor Peter Benedict Steege, our Denver, Colorado broker misconduct lawyers want to speak with you. Steege, who has been with this firm for 19 years, has 21 disclosures listed on BrokerCheck. Most of them are customer disputes. However, Steege was also named in a former criminal case (now dismissed) that alleged petty theft and a few regulatory disputes.

Our Denver broker negligence lawyers represent investors throughout the state and the rest of the US in their Financial Industry Regulatory Authority (FINRA) arbitration claims over losses they sustained due to the wrongful or careless actions of their financial advisors. In Colorado, call SSEK Law Firm at (720) 439-2827. You can also reach us nationwide at (800) 259-9010.

Some of the 21 Disclosures on Peter Steege’s BrokerCheck:

January 2021: This claimant, alleging unsuitability, agreed to a $40K settlement.
November 2020: Alleging overconcentration and unsuitability, this claim is still pending. The investor is requesting $5K in damages.
November 2020: This investor is requesting $50K in damages and alleging unsuitability.
November 2020: Another claimant is alleging unsuitability and overconcentration.
January 2017: This breach of fiduciary duty case, also alleging misrepresentation and overconcentration, was settled for $125K.
June 2001: The investor in this unsuitability case agreed to a $218K settlement.
April 2001: A $500K settlement was reached in this unsuitability case.
June 1995: The Illinois Securities Department denied Steege’s salesperson registration following an unauthorized trading allegation.
June 1990: AG Edwards and Sons allowed Steege to resign for allegedly failing to represent clients’ best interests. Newbridge Network shares were involved.
July 1989: Smith, Barney, Harris Upham & Co. fired Steege.

Steege has worked for 37 years in the industry. Prior to Western International Securities, where he is both a broker and registered investment adviser, he was registered with other broker-dealers and investment advisors in Denver, including Sands Brothers & Co., Global Capital Securities, Cohig & Associates, D.E. Frey & Co., Neidiger Tucker Bruner, AG Edwards and Sons, Drexel Burnham Lambert, Boettcher & Co., Kirkpatrick, Pettis, Smith, Polian Inc., and Smith Barney, Harris Upham.

When Investors Lose Money Because of Unsuitability

Brokers must ensure that any product or strategy that they recommend to an investor is suitable according to their investment goals, financial profile, and risk tolerance level. Brokerage firms can be held liable if their registered investment adviser sold a product that was unsuitable for a customer, who then went on to suffer losses. All too often, investors lose money because they bought securities that were too risky for them and they were not prepared to handle the losses.

SSEK Law Firm Managing Partner and Attorney Kirk Smith:

Seasoned FINRA Arbitration Law Firm

Earlier this year, SSEK Law Firm filed a $500K FINRA arbitration claim against Western International Securities on behalf of a Portland, Oregon semi-retiree who contends that her broker overconcentrated her portfolio in risky private placements.

If you suffered losses while working with a Western International Securities financial advisor and you would like to explore your legal options, call our FINRA attorneys at (800) 259-9010 today.