Minnesota TradingBlock Broker Joshua D. Arnold Under Investigation

Silver Law Group is investigating former TradingBlock (CRD# 128605) broker Joshua D. Arnold (CRD# 828189) for recent allegations of negligence and unsuitable recommendations among others.

According to Arnold’s FINRA BrokerCheck report, Arnold has thirteen (13) disclosures.  His most recent was a FINRA arbitration filed in September 2016, and it alleges negligence, unsuitable recommendations, negligent supervision, breach of fiduciary duty and breach of contract.  The FINRA arbitration alleges $250,000 in damages and is currently pending.

Most notably, Arnold’s BrokerCheck report contains seven (7) settled complaints.  Many of the settled complaints allege unauthorized trading.  Collectively, the seven (7) complaints settled for a total of almost $270,000.

In 2015, a customer alleged mishandling of the account and damages in the amount of $5,000.  The claim settled for $37,500.  In 2010, a client alleged Arnold charged her more fees that were discussed.  That claim settled for the full amount of $10,000.

Arnold was employed by TradingBlock from August 2012 to December 2016.  He is currently employed by Josh Arnold Investment Consultant, LLC in Edina, Minnesota.  He has been the host of Money Talk on 1500 ESPN AM radio in Minnesota for over 35 years.

When a customer opens an account with a broker and brokerage firm, the customer can choose whether or not he or she wants to give the broker discretion to trade in order to capitalize as quickly as possible on an ever-changing market or other reasons.  Often times, customers choose to reserve that right and have the final “OK” before a broker facilitates a transaction.

Unauthorized trading is when a broker facilitates a transaction without the permission of the customer in a non-discretionary account.  According to FINRA, it is one of the common investor issues along with misrepresentation, cold-calling, and unsuitability.  The SEC issued an investor alert this month in an attempt to help curb the practice and educate investors.

Unauthorized discretion is a serious form of broker misconduct.  A broker’s employing firm is responsible for overseeing the broker to prevent such misconduct.  Failure to supervise is a claim made against a brokerage firm in these situations.

FINRA arbitration is a fast, efficient way to recover your lost investment funds due to unauthorized trading.  We work on a contingency fee basis, meaning you pay us nothing unless we win and recover money for you.

If you have invested with Josh D. Arnold and TradingBlock and have lost money doing so, you may be able to recover some or all of your losses.  Our lawyers are experienced in recovering investor losses due to broker and brokerage firm misconduct through FINRA arbitration.

Silver Law Group represents the interests of investors who have been the victims of investment fraud.  If you have questions about your legal rights, please contact Scott Silver of the Silver Law Group for a free consultation at ssilver@silverlaw.com or toll free at (800) 975-4345.