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Randall Fields Disciplined in Options Trading Scheme

Randall Fields recently consented to the revocation of his registration as an investment adviser representative in connection with allegations of breach of fiduciary duty stemming from an options trading scheme.

According to a recent news release from the Texas State Securities Board about the Randall Fields Consent Order:

“From April 2010 through March 2020, Fields was registered as an investment adviser representative of Sensus Wealth Management Group, LLC (“Sensus”). Fields  was also the Chairman and Chief Investment Officer of OPCIÓN Investment Strategy, a division of Sensus which implements Sensus’ option investment advisory service for client accounts. During his time at Sensus, Fields solely traded options in client accounts. Specifically, he utilized an aggressive, high-risk strategy that involved simultaneously buying and selling call or put options at different strike prices to realize immediate profit based on the price spreads.

Fields assessed a performance fee equal to 25% of the monthly account trading profits (in excess of a hurdle rate) for the assets traded as part of the options strategy. As such, two clients of Fields agreed to allow Fields to trade options in their accounts based on Fields’ representation that he would only make money if they made money. However, due to the absence of a high-water mark, there were multiple instances where Fields assessed and collected a fee on the clients’ accounts despite an overall loss in the account.

Then, in 2016 – following expressed concerns from the clients, Fields agreed to reassess his implementation of a performance fee and implement a high-water mark. However, Fields miscalculated the initial high-water mark and consistently misapplied it across all the accounts of the clients. At times, he even ignored the high-water mark altogether.”

Fishman Haygood’s team of investment fraud lawyers represent investors who have suffered investment losses in claims against their brokers or financial advisors and the firms employing/supervising them. If you believe that you may have suffered financial losses due to the misconduct of a financial professional, we may be able to help.

Please contact us to discuss your potential claim.

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