Multiple Investors Name Betsy Whipple in Negligence Allegations 

Betsy Whipple (CRD #: 2703262), a broker registered with Osaic Wealth, is involved in several investor disputes, according to her BrokerCheck record, accessed on November 11, 2024. If you want to learn more about her conduct as a broker, keep reading.

Investor Dispute

Three disputes filed on September 17, 2024, and one filed on August 6, 2024, named Betsy Whipple in allegations of negligence, breach of contract, failure to supervise, and violation of Regulation Best Interest. These pending disputes seek a collective $250,000 in damages.

On July 7, 2022, an investor named Betsy Whipple in similar allegations involving failure to supervise, misrepresentations and omissions, and breach of contract. This dispute was settled for $250,000.

FINRA Rule 3110

FINRA Rule 3110 requires that firms establish systems of supervision to ensure their regulatory compliance. Firms must appoint adequately trained or experienced supervisory personnel and provide them with Written Supervisory Procedures (WSPs).

Regulation Best Interest

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. Under Reg-BI, firms must uphold a Duty of Care, the Conflict of Interest Obligation, and the Disclosure Obligation. These obligations require firms to disclose conflicts of interest and conduct reasonable due diligence to ensure the suitability of their investment recommendations for an investor.

What is broker negligence?

Many types of broker misconduct may qualify as negligence. Common examples include unsuitable investment recommendations, misrepresentations or omissions of material fact, and unauthorized trading.

Investors who believe their losses are the result of broker negligence may be able to recover their funds by seeking out FINRA arbitration.

FINRA Rule 2020

FINRA Rule 2020 forbids the use of deception, manipulation, and other fraudulent means of influencing the purchase and sale of securities. This includes misrepresentation or omission of information related to investments, such as their requirements, limitations, and other features.

Background Information

Betsy Whipple has passed the following exams:

• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• Series 6TO – Investment Company Products/Variable Contracts Representative Examination
• SIE – Securities Industry Essentials Examination
• Series 3 – National Commodity Futures Examination
• Series 7 – General Securities Representative Examination

Betsy Whipple is a registered broker in 17 states and a registered investment adviser in Nevada.

She has also worked for the following firms:

• Securities America Advisors (CRD#:110518)
• Securities America (CRD#:10205)
• Newbridge Financial Services Group (CRD#:130814)
• Newbridge Securities Corporation (CRD#:104065)
• M. S. Howells & Company (CRD#:104100)
• MSH Capital Advisors (CRD#:157835)
• Greenleaf Financial Network (CRD#:284165)
• Private Client Services (CRD#:120222)
• Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691)
• Morgan Stanley Smith Barney (CRD#:149777)
• Morgan Stanley & Company (CRD#:8209)
• Morgan Stanley (CRD#:7556)
• Bear, Stearns & Company (CRD#:79)
• PaineWebber (CRD#:8174)

Kurta Law Can Help

If you worked with Betsy Whipple and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.