Investor's Rights Blog with Robert Pearce

Centereach, New York FINRA Securities Arbitration Attorney

Did Corey Alexander Johnson Cause You Investment Losses? Corey Alexander Johnson of Centereach, New York was fined $5,000 and suspended from association with any FINRA member in all capacities for a period of 30 days. The sanctions were based on findings that he allegedly exercised discretionary trading without authorization in violation of NASD Rule 2510 (b) and FINRA Rule 2010. The suspension was in effect from April 19, 2021, through May 18, 2021. In June 2011, Corey Alexander Johnson joined Aegis Capital Corp. and became registered as a General Securities Representative. According to FINRA’s findings, from April 2017 through April 2019, Johnson exercised discretionary trading in five customers’ accounts effecting approximately 1,358 transactions. The findings state that prior to placing the trades, Johnson allegedly failed to obtain authorization from the customers to exercise discretion in their accounts and Aegis did not accept any of the accounts as discretionary accounts, therefore violating NASD Rule 2510(b) and FINRA Rule 2010. NASD Rule 2510(b) prohibits registered representatives from “exercising any discretionary power in a customer’s account” unless the customer has provided prior written authorization to the representative and the account has been accepted as a discretionary account, in writing, by the representative’s member firm. A violation of NASD Rule 2510(b) is also a violation of FINRA Rule 2010. Do You Need a New York FINRA Securities Arbitration Attorney? Are you a Centereach, New York investor who has suffered significant losses in your stock brokerage and investment accounts? Did your New York stockbroker or investment advisor misrepresent facts, fail to disclose facts making the statements made false and misleading, recommend unsuitable investments or strategies, excessively trade or churn, mismanage your investment account or engage in other kinds of stockbroker misconduct? If so, you need representation by an experienced, highly-rated and nationally recognized FINRA securities arbitration attorney—a lawyer who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases as well as other complex legal issues. Free Initial Consultation With Experienced FINRA Securities Arbitration Attorneys Serving Centereach, New York Residents In FINRA Arbitration Proceedings At The Law Offices of Robert Wayne Pearce, P.A. we represent investors in all kinds of securities, commodities and investment law disputes in FINRA, AAA and JAMS arbitration and mediation proceedings. Attorney Pearce and his staff represent investors throughout New York, and across the United States on a CONTINGENCY FEE basis which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español For dedicated representation by Attorney Pearce with over 40 years of experience and success in all kinds of securities, commodities and investment law disputes serving New York citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Jul 25, 2021

Bluffs, Iowa FINRA Defense Lawyers

You may have read that Chad T. Mackland of Council Bluffs, Iowa was permanently barred by the Financial Industry Regulatory Authority (“FINRA”) from working in the securities industry because he failed to comply with FINRA Rule 8210 and 2010. In March 2017, Chad T. Mackland joined MML Investors Services, LLC and became registered as a General Securities Representative. The firm later filed a Uniform Termination Notice for Securities Industry Registration (Form U5) disclosing that he had been terminated due to alleged misconduct. According to the findings, FINRA sent Mackland a request to provide documents and information in connection with their investigation regarding his pending criminal charges as well as alleged theft and fraudulent sales practices. The findings state that Mackland responded to FINRA during a phone call, stating that he allegedly received, acknowledged, and refused the request to provide the documents and information at any time. Although Chad T. Mackland is no longer associated with any FINRA member firm, he remains subject to FINRA’s jurisdiction. FINRA Rule 8210 states, in relevant part, that FINRA has the right to require a “person subject to FINRA’s jurisdiction to provide information orally, in writing, or electronically with respect to any matter involved in the investigation, complaint, examination or proceeding.” FINRA Rule 8210 also specifies that “no person shall fail to provide information or testimony pursuant to this Rule.” A failure to provide information and/or testimony requested by FINRA pursuant to Rule 8210 violates Rule 8210. Conduct that violates FINRA Rule 8210 also violates FINRA Rule 2010, which requires associated persons to “observe high standards of commercial honor and just and equitable principals of trade.” Unfortunately, Chad T. Mackland might have avoided that FINRA 8210 bar from the securities industry with a skilled and experienced FINRA 8210 defense attorney. It is important, early on, to have a FINRA defense attorney advise you on how not to make matters worse and resolve the dispute with the least amount of sanctions which could range from censures to fines, suspensions, permanent bars, and/or referrals to federal or state prosecutors. You will need an experienced FINRA defense lawyer who not only has knowledge of FINRA rules and procedures, the securities laws and the appropriate sanction for the alleged misconduct but also has an excellent reputation and credibility with the FINRA attorneys to negotiate the best outcome. Free Initial Consultation With FINRA 8210 Defense Attorneys Serving Financial Advisors Throughout Bluffs, Iowa And Nationwide The Law Offices of Robert Wayne Pearce, P.A. understands what is at stake in FINRA securities law matters and works tirelessly to secure the best possible result for you and your case. Attorney Pearce’s FINRA defense skills are highly regarded throughout Iowa and across the nation. For dedicated representation by an attorney with over 40 years of experience and success in all kinds of FINRA disputes serving Iowa citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889, or via e-mail.

Jul 23, 2021

Irving, Texas FINRA Defense Lawyers

You may have read that Anne McCutcheon Crivelli of Irving, Texas was permanently barred by the Financial Industry Regulatory Authority (“FINRA”) from working in the securities industry because she failed to comply with FINRA Rule 8210 and 2010. In October 2018, Anne McCutcheon Crivelli joined Charles Schwab & Co., in an unregistered capacity as an estate service specialist. The firm later filed a Uniform Termination Notice for Securities Industry Registration (Form U5) disclosing that she had been terminated due to alleged misconduct. According to the findings, FINRA sent Crivelli a request to provide documents and information in connection with their investigation relating to a conversion of funds from a senior customer. The findings state that Crivelli responded to FINRA during a phone call, stating that she allegedly received, acknowledged, and refused the request to provide the documents and information at any time. Although Anne McCutcheon Crivelli is no longer associated with any FINRA member firm, she remains subject to FINRA’s jurisdiction. FINRA Rule 8210 states, in relevant part, that FINRA has the right to require a “person subject to FINRA’s jurisdiction to provide information orally, in writing, or electronically with respect to any matter involved in the investigation, complaint, examination or proceeding.” FINRA Rule 8210 also specifies that “no person shall fail to provide information or testimony pursuant to this Rule.” A failure to provide information and/or testimony requested by FINRA pursuant to Rule 8210 violates Rule 8210. Conduct that violates FINRA Rule 8210 also violates FINRA Rule 2010, which requires associated persons to “observe high standards of commercial honor and just and equitable principals of trade.” Unfortunately, Anne McCutcheon Crivelli might have avoided that FINRA 8210 bar from the securities industry with a skilled and experienced FINRA 8210 defense attorney. It is important, early on, to have a FINRA defense attorney advise you on how not to make matters worse and resolve the dispute with the least amount of sanctions which could range from censures to fines, suspensions, permanent bars, and/or referrals to federal or state prosecutors. You will need an experienced FINRA defense lawyer who not only has knowledge of FINRA rules and procedures, the securities laws and the appropriate sanction for the alleged misconduct but also has an excellent reputation and credibility with the FINRA attorneys to negotiate the best outcome. Free Initial Consultation With FINRA 8210 Defense Attorney Serving Financial Advisors Throughout Irving, Texas And Nationwide The Law Offices of Robert Wayne Pearce, P.A. understands what is at stake in FINRA securities law matters and works tirelessly to secure the best possible result for you and your case. Attorney Pearce’s FINRA defense skills are highly regarded throughout Texas and across the nation. For dedicated representation by an attorney with over 40 years of experience and success in all kinds of FINRA disputes serving Texas citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889, or via e-mail.

Jul 21, 2021

San Juan, Puerto Rico Attorney Lawyer Who Sues Stockbrokers For Selling Away (Selling Unauthorized Investments)

Did Sean Daniel McDevitt Cause You Investment Losses? Sean Daniel McDevitt of San Juan, Puerto Rico submitted a Letter of Acceptance, Waiver, and Consent to the Financial Industry Regulatory Authority in which he was fined $10,000 and suspended from association with any FINRA member in all capacities for six months. The sanctions were based on findings that he engaged in private securities transactions in violation of NASD Rule 3040 and FINRA Rules 3280 and 2010. The suspension remains in effect from March 1, 2021, through August 31, 2021. In November 2015, Sean Daniel McDevitt joined Woodrock Securities L.P. while registered as a General Securities Representative. The firm later filed a Uniform Termination Notice for Securities Industry Registration (Form U5) in December 2016, disclosing that he had been terminated due to alleged misconduct. According to FINRA’s findings, McDevitt allegedly engaged in private securities transactions when he solicited four investors to purchase promissory notes in the amount of $600,000. The findings state that McDevitt had signed the promissory notes on behalf of the company and had not disclosed to his firm that he was engaged in the private securities transactions. Although Sean Daniel McDevitt is not currently registered or associated with a FINRA member firm, he remains subject to FINRA’s jurisdiction. FINRA Rule 3280, and its predecessor NASD Rule 3040, generally define a private securities transaction as any securities transaction outside the regular scope of an associated person’s employment with a member. FINRA Rule 3280(b) and NASD 3040(b) both state that “prior to participating in any private securities transaction, an associated person shall provide written notice to the member with which he is associated describing in detail the proposed transaction and the person’s proposed role therein and stating whether he has received or may receive selling compensation in connection with the transaction.” A violation of FINRA Rule 3280 or NASD Rule 3040 is also a violation of FINRA Rule 2010, which requires associated persons, in the conduct of their business, to observe high standards of commercial honor and just and equitable principles of trade. Do You Need a Puerto Rico Selling Away Attorney? Did your Puerto Rico stockbroker or investment advisor recommend an investment that turned out to be an investment that was never reviewed or approved by their stockbrokerage firm employer? The stockbrokers who stoop to that level are usually insolvent or uncollectible. And so, the investor’s only recourse is against the brokerage firm employer. But stockbrokerage firms always claim ignorance of the stockbroker’s activities and deny liability for the sale of unauthorized investments which they call Selling Away as if that was an absolute defense. Not so! You will definitely need an experienced attorney who knows the securities laws and how to hold the stockbrokerage firm responsible for their employees Selling Away under legal principles of actual authority, apparent authority, estoppel and failure to supervise. If your attorney knows where to look he/she can often find Red Flags of the alleged unauthorized sales that the firm did not look for, missed, or saw and just ignored. Free Initial Consultation With Experienced Selling Away Attorneys Representing San Juan, Puerto Rico Residents in FINRA Arbitrations At The Law Offices of Robert Wayne Pearce, P.A. we represent investors in all kinds of securities, commodities, and investment law disputes in FINRA, AAA and JAMS arbitration and mediation proceedings. Attorney Pearce and his staff represent investors throughout Puerto Rico, and across the United States on a CONTINGENCY FEE basis which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español For dedicated representation by Attorney Pearce with over 40 years of experience and success in all kinds of securities, commodities, and investment law disputes serving Puerto Rico citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Jul 19, 2021

Scottsdale, Arizona Securities Account Theft Attorney

Did Michael Justin Nagy Cause You Investment Losses? Michael Justin Nagy of Scottsdale, Arizona submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was barred from association with any FINRA member in all capacities. The sanction was based on findings that he converted funds from his firms bank affiliate in violation of FINRA Rule 2010. In July 2017, Michael Justin Nagy joined Merrill Lynch while registered as a General Securities Representative. The firm later filed a Uniform Termination Notice for Securities Industry Registration (Form U5) in December 2019, disclosing that Nagy had been discharged due to alleged misconduct. According to FINRA’s findings, while working at the firms affiliated bank, Nagy was given $100 in cash to return to the previous customer that had left it behind at the ATM. The findings state that when the manager asked Nagy about the cash left, he allegedly disclaimed any knowledge of the missing funds and decided to keep it rather than report it. Although Michael Justin Nagy is not currently registered or associated with a FINRA member, he remains subject to FINRA’s jurisdiction. FINRA Rule 2010 requires associated persons of FINRA members to adhere to high standards of commercial honor and just and equitable principles of trade in the conduct of their business. Conversion is an intentional and unauthorized taking of and/or exercise of ownership over property by one who neither owns the property nor is entitled to possess it. Conversion violates FINRA Rule 2010 even if the conversion occurs outside the scope of an associated person’s employment with a FINRA member or even if the person from whom the funds are converted is not a customer of the firm with which the respondent was associated. Do You Need an Arizona Securities Account Theft Attorney? Are you a Scottsdale, Arizona investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Arizona stockbroker or investment advisor transfer assets without your authority to the stockbroker or another party, steal, or otherwise commit theft in your investment account? If so, you will need to have representation from an experienced, highly rated, and nationally recognized FINRA arbitration securities law attorney—an attorney who knows FINRA rules and procedures inside and out and how to handle these securities account theft cases and other complex legal issues. Free Initial Consultation With Experienced Attorneys Handling Securities Account Theft Cases Serving Scottsdale, Arizona Residents in FINRA Arbitrations At The Law Offices of Robert Wayne Pearce, P.A. we represent investors in all kinds of securities, commodities, and investment law disputes in FINRA, AAA and JAMS arbitration and mediation proceedings. Attorney Pearce and his staff represent investors throughout Arizona, and across the United States on a CONTINGENCY FEE basis which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español For dedicated representation by Attorney Pearce with over 40 years of experience and success in all kinds of securities, commodities, and investment law disputes serving Arizona citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Jul 17, 2021

Mesa, Arizona Private Placement Investment Dispute Lawyer

Did Scott Wayne Reed Cause You Investment Losses? Scott Wayne Reed of Mesa, Arizona submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was barred from association with any FINRA member in all capacities. The sanction was based on findings that he recommended and participated in private securities transactions in violation of FINRA Rules 3280 and 2010. On April 11, 2016, Scott Wayne Reed joined Wells Fargo Clearing Services, LLC while registered as a General Securities Representative, General Securities Principal and General Securities Sales Supervisor. The firm later filed a Uniform Termination Notice for Securities Industry Registration (Form U5) in April 2020, disclosing that Reed voluntarily terminated his registration from the firm due to alleged misconduct. According to FINRA’s findings, Reed participated in private securities transactions by soliciting at least six individuals to invest $3.5 million in securities issued by a software and web development company. The findings state that Reed received a selling compensation of $191,340 and allegedly failed to provide prior notice or obtain the firm’s approval to participate in the private securities transactions. Although Scott Wayne Reed is not currently registered or associated with a FINRA member, he remains subject to FINRA’s jurisdiction. FINRA Rule 3280 prohibits each associated person from “participating in any manner in a private securities transaction” without first giving his or her firm written notice that “describes in detail the proposed transaction,” the proposed role in the transaction, and “whether he has received or may receive selling compensation in connection with the transaction.” A violation of FINRA Rule 3280 is also a violation of FINRA Rule 2010, which requires associated persons to “observe high standards of commercial honor and just and equitable principles of trade.” Do You Need an Arizona Private Placement Investment Attorney? Are you an Arizona investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Arizona stockbroker or investment advisor misrepresent or mislead you about an investment in a Private Placement or make an unsuitable recommendation that you invest in a Private Placement like GPB Capital Holdings or EquiAlt or otherwise mismanage your investment account? If so, you will need to have representation by an experienced, highly rated, and nationally recognized FINRA securities arbitration law attorney—an attorney who understands these highly complex and risky Private Placement investments. You need an experienced lawyer who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases and other complex legal issues. Free Initial Consultation With Experienced Private Placement Investment Lawyers Serving Mesa, Arizona Residents In FINRA Arbitration Proceedings At The Law Offices of Robert Wayne Pearce, P.A. we represent investors in all kinds of securities, commodities, and investment law disputes in FINRA, AAA and JAMS arbitration and mediation proceedings. Attorney Pearce and his staff represent investors throughout Arizona, and across the United States on a CONTINGENCY FEE basis which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español For dedicated representation by Attorney Pearce with over 40 years of experience and success in all kinds of securities, commodities, and investment law disputes serving Arizona citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Jul 15, 2021

Portland, Oregon Variable Annuities Investment Dispute Lawyer

Did Lisa Ann Brumm Cause You Investment Losses? Lisa Ann Brumm of Portland, Oregon submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which she was fined $7,500 and suspended from association with any FINRA members in all capacities for a period of six months. The sanctions were based on findings that she recommended unsuitable variable annuities, borrowed money from the same customer and made misrepresentations all in violation of FINRA Rules 2111, 2330, 3240 and 2010. The suspension remains in effect from February 16, 2021, through August 15, 2021. From July 2011 to May 2017, Lisa Ann Brumm was registered with Equitable Advisors LLC as an investment company and variable contracts products representative. According to FINRA’s findings, Brumm allegedly recommended that a customer invest $400,000 into two deferred variable annuities while also entered into an oral agreement to borrow $40,000. The findings state that Brumm did not have a reasonable basis to believe that the recommendations were suitable and was also aware of her member firms’ written procedures that did not permit representatives from borrowing money from a customer. In addition to the findings, FINRA alleged that Brumm negligently misrepresented to another customer the effect of a $20,000 withdrawal from a variable annuity which resulted in $600 in charges and fees. Although Lisa Ann Brumm is not currently registered or associated with a member firm, she remains subject to FINRA’s jurisdiction. FINRA Rule 2111 requires that an associated person have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the associated person to ascertain the customer’s investment profile. FINRA Rule 2330 states that no associated person shall recommend to any customer the purchase of a deferred variable annuity unless such associated person has a reasonable basis to believe, among other things, that (a) the customer would benefit from certain features of deferred variable annuities, such as tax-deferred growth, annuitization, or a death or living benefit; and (b) the particular deferred variable annuity as a whole including its riders and similar product enhancements are suitable for the particular customer. FINRA Rule 3240 provides that no registered representative may borrow money from or lend money to any customer of such person, unless, among other things, the member has written procedures allowing the borrowing and lending of money between such registered persons and customers of the member, and the registered person complies with certain notice requirements. Violations of FINRA Rules 2111, 2330 and 3240 are also violations of FINRA Rule 2010. Do You Need an Oregon Variable Annuity Investment Attorney? Are you a Portland, Oregon investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Oregon stockbroker or investment advisor misrepresent or mislead you about a Variable Annuity investment or make an unsuitable recommendation that you invest in a Variable Annuity or otherwise mismanage your investment account? If so, you need representation by an experienced, highly-rated, and nationally recognized FINRA securities arbitration law attorney — an attorney who understands these highly complex and risky Variable Annuity investments. Free Initial Consultation With Experienced Variable Annuities Investment Lawyers Serving Portland, Oregon Residents In FINRA Arbitration Proceedings At The Law Offices of Robert Wayne Pearce, P.A. we represent investors in all kinds of securities, commodities, and investment law disputes in FINRA, AAA and JAMS arbitration and mediation proceedings. Attorney Pearce and his staff represent investors throughout Oregon, and across the United States on a CONTINGENCY FEE basis which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español For dedicated representation by Attorney Pearce with over 40 years of experience and success in all kinds of securities, commodities, and investment law disputes serving Oregon citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Jul 13, 2021

Canutillo, Texas FINRA Securities Arbitration Attorney

Did Israel Soto Cause You Investment Losses? Israel Soto of Canutillo, Texas submitted a Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority in which he was fined $7,500 and suspended from association with any FINRA member in all capacities for a period of three months. The sanctions were based on findings that he allegedly engaged in an outside business activity and failed to notify his firm of an outside business account he opened in violation of FINRA Rules 3270, 3210 and 2010. The suspension was in effect from March 1, 2021, through May 31, 2021. From April 2018 through March 2020, Israel Soto was registered with Morgan Stanley Smith Barney, LLC as a General Securities Representative. According to FINRA’s findings, Soto formed a limited liability company and served as the registered agent and sole managing member while registered with Morgan Stanley. The findings state that Soto allegedly failed to seek approval from Morgan Stanley before forming the company and falsely attested that he had not engaged in undisclosed outside business activities on their annual compliance questionnaires. In addition, the findings further allege that Soto also opened and controlled a brokerage account at another member firm, without seeking approval from Morgan Stanley and falsely attesting to the outside business account on their annual compliance questionnaires. Although Israel Soto is not currently registered or associated with a FINRA member, he remains subject to FINRA’s jurisdiction. FINRA Rule 3270 states that “no registered person may be an employee, independent contractor, sole proprietor, officer, director or partner of another person, or be compensated by, or have the reasonable expectation of compensation, from any other person as a result of any business activity outside the scope of the relationship with his or her member firm, unless he or she has provided prior written notice to the member, in such form as specified by the member.” FINRA Rule 3210 requires a person associated with a member firm, prior to opening a brokerage account with another member firm, to notify both firms of his or her association with the other member firm. These requirements apply to accounts in which the associated person has a beneficial interest. A violation of FINRA Rule 3210 also violates FINRA Rule 2010. Do You Need a Texas FINRA Securities Arbitration Attorney? Are you a Canutillo, Texas investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Texas stockbroker or investment advisor misrepresent facts, fail to disclose facts making the statements made false and misleading, recommend unsuitable investments or strategies, excessively trade or churn, mismanage your investment account or engage in other kinds of stockbroker misconduct? If so, you need representation by an experienced, highly-rated and nationally recognized FINRA securities arbitration attorney—a lawyer who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases as well as other complex legal issues. Free Initial Consultation With Experienced FINRA Securities Arbitration Attorneys Serving Canutillo, Texas Residents In FINRA Arbitration Proceedings At The Law Offices of Robert Wayne Pearce, P.A. we represent investors in all kinds of securities, commodities and investment law disputes in FINRA, AAA and JAMS arbitration and mediation proceedings. Attorney Pearce and his staff represent investors throughout Texas, and across the United States on a CONTINGENCY FEE basis which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español For dedicated representation by Attorney Pearce with over 40 years of experience and success in all kinds of securities, commodities and investment law disputes serving Texas citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Jul 11, 2021

Orlando, Florida 8210 Defense Lawyer

Do You Need a FINRA 8210 Defense Attorney? You may have read that Valerie Idarraga Ceballos of Orlando, Florida was permanently barred by the Financial Industry Regulatory Authority (“FINRA”) from working in the securities industry because she failed to comply with FINRA Rule 8210 and 2010. In April 2018, Valerie Idarraga Ceballos joined Wells Fargo as an Investment Company and Variable Contracts Products Representative. The firm later filed a Uniform Termination Notice (Form U5), disclosing that she had been terminated due to alleged misconduct. According to the findings, FINRA sent Ceballos a request to appear for an on-the-record testimony regarding her termination for applying for business support from the Small Business Administration when she allegedly admitted she did not have a pre-existing formal business as required. The findings state that Ceballos responded to FINRA during a phone call, stating that she allegedly received, acknowledged, and refused their request to appear at any time. Although Valerie Idarraga Ceballos is no longer associated with any FINRA member firm, she remains subject to FINRA’s jurisdiction. FINRA Rule 8210(a)(1) states, in relevant part, that FINRA staff shall have the right to “require a member, person associated with a member, or any other person subject to FINRA’s jurisdiction to provide information orally, in writing, or electronically…with respect to any matter involved in the investigation, complaint, examination, or proceeding.” A failure to comply with a request for documents and information issued pursuant to FINRA Rule 8210 is a violation of FINRA Rule 2010, which requires associated persons to “observe high standards of commercial honor and just and equitable principles of trade.” Unfortunately, Valerie Idarraga Ceballos might have avoided that FINRA 8210 bar from the securities industry with a skilled and experienced FINRA 8210 defense attorney. It is important, early on, to have a FINRA defense attorney advise you on how not to make matters worse and resolve the dispute with the least amount of sanctions which could range from censures to fines, suspensions, permanent bars, and/or referrals to federal or state prosecutors. You will need an experienced FINRA defense lawyer who not only has knowledge of FINRA rules and procedures, the securities laws and the appropriate sanction for the alleged misconduct but also has an excellent reputation and credibility with the FINRA attorneys to negotiate the best outcome. Free Initial Consultation With FINRA 8210 Defense Attorney Serving Financial Advisors Throughout Orlando, Florida And Nationwide The Law Offices of Robert Wayne Pearce, P.A. understands what is at stake in FINRA securities law matters and works tirelessly to secure the best possible result for you and your case. Attorney Pearce’s FINRA defense skills are highly regarded throughout Florida and across the nation. For dedicated representation by an attorney with over 40 years of experience and success in all kinds of FINRA disputes serving Florida citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889, or via e-mail.

Jul 9, 2021

Charleston, South Carolina FINRA 8210 Defense Lawyer

Do You Need a FINRA 8210 Defense Attorney? You may have read that Paul John Halvorson of Charleston, South Carolina was permanently barred by the Financial Industry Regulatory Authority (“FINRA”) from working in the securities industry because he failed to comply with FINRA Rule 8210 and 2010. In June 2009, Paul John Halvorson joined Morgan Stanley while registered as a General Securities Representative and a General Securities Sales Supervisor. The firm later filed a Uniform Termination Notice (Form U5), disclosing that he had been terminated due to alleged misconduct. According to the findings, FINRA sent Halvorson a request to provide documents and information in connection with their investigation regarding concerns that he allegedly submitted inconsistent production transactions involving another representatives agreement resulting in a shortfall of revenue. The findings state that Halvorson responded to FINRA through email, stating that he allegedly received, acknowledged, and refused to provide any of the documents and information requested. Although Paul John Halvorson is no longer associated with any FINRA member firm, he remains subject to FINRA’s jurisdiction. FINRA Rule 8210(a)(1) states, in relevant part, that FINRA staff shall have the right to “require a member, person associated with a member, or any other person subject to FINRA’s jurisdiction to provide information orally, in writing, or electronically…with respect to any matter involved in the investigation, complaint, examination, or proceeding.” A failure to comply with a request for documents and information issued pursuant to FINRA Rule 8210 is a violation of FINRA Rule 2010, which requires associated persons to “observe high standards of commercial honor and just and equitable principles of trade.” Unfortunately, Paul John Halvorson might have avoided that FINRA 8210 bar from the securities industry with a skilled and experienced FINRA 8210 defense attorney. It is important, early on, to have a FINRA defense attorney advise you on how not to make matters worse and resolve the dispute with the least amount of sanctions which could range from censures to fines, suspensions, permanent bars, and/or referrals to federal or state prosecutors. You will need an experienced FINRA defense lawyer who not only has knowledge of FINRA rules and procedures, the securities laws and the appropriate sanction for the alleged misconduct but also has an excellent reputation and credibility with the FINRA attorneys to negotiate the best outcome. Free Initial Consultation With FINRA 8210 Defense Attorney Serving Financial Advisors Throughout Charleston, South Carolina And Nationwide The Law Offices of Robert Wayne Pearce, P.A. understands what is at stake in FINRA securities law matters and works tirelessly to secure the best possible result for you and your case. Attorney Pearce’s FINRA defense skills are highly regarded throughout South Carolina and across the nation. For dedicated representation by an attorney with over 40 years of experience and success in all kinds of FINRA disputes serving South Carolina citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889, or via e-mail.

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