Churning Lawyer

FINRA Suspends Ex-Spartan Capital Securities Broker Justin Deiter

Excessive Trading Can Cause Portfolio Losses

If you sustained investment losses while working with former Spartan Capital Securities financial advisor Justin Ray Deiter, contact the Shepherd Smith Edwards and Kantas Churning Lawyer Team (investorlawyers.com) today. The New York broker was suspended by the Financial Industry Regulatory Authority (FINRA) for six months in the wake of allegations that he engaged in excessive trading in two customers’ accounts. One of the clients involved was a senior investor. FINRA contends that Deiter’s trading led to high turnover rates and cost-to-equity ratios that went beyond the traditional 6% and 20% guideposts, respectively. This led to the investors sustaining substantial losses.