Former Girard Securities broker Jason LeBlanc, of Fulshear, Texas, has been barred by the Financial Industry Regulatory Authority (FINRA) for numerous violations, including misuse of customer funds, failure to disclose outside business activities, and engaging in private securities transactions without the firm’s approval.
According to FINRA, Jason Hyson LeBlanc violated FINRA rules by engaging in private securities transactions without his firm’s knowledge or approval by selling numerous promissory notes and partnership interests in a coffee shop. FINRA also found that Mr. LeBlanc misused customer funds when he sold a customer a $23,000 promissory note to invest in the coffee shop, returned $3,000 to the customer, and invested the remaining $20,000 in a real estate investment company without her knowledge or consent. Further, Mr. LeBlanc was found by FINRA to have commingled customer and personal funds to pay bills for various business entities and his personal expenses. Without admitting or denying FINRA’s findings, Mr. LeBlanc was barred from associating with any FINRA member in any capacity.
FINRA rules require brokerage firms to establish and implement a reasonable supervisory system to protect customers from the risks associated with investing. The implementation of the rules requires supervisors to monitor their employees to ensure compliance with federal and state securities laws, securities industry rules and regulations, as well as the brokerage firm’s own policies and procedures. If broker-dealers and their supervisors fail to establish and implement these protective measures, they may be held liable to account holders for investment losses which stem from their employees’ misconduct. Therefore, investors who have suffered losses due to a brokerage firm’s failure to supervise its representatives can file claims to recover damages against firms, like Girard Securities, which have a duty to supervise its employees in order to protect their customers’ interests.
Have you suffered losses in your Girard Securities account due to a stockbroker’s misuse of funds or other misconduct? If so, call Robert Pearce at the Law Offices of Robert Wayne Pearce, P.A. for a free consultation. Mr. Pearce is accepting clients with valid claims against Girard Securities stockbrokers who may have engaged in misconduct and caused investors losses.
The most important of investors’ rights is the right to be informed! This Investors’ Rights blog post is by the Law Offices of Robert Wayne Pearce, P.A., located in Boca Raton, Florida. For over 35 years, Attorney Pearce has tried, arbitrated, and mediated hundreds of disputes involving complex securities, commodities and investment law issues. The lawyers at our law firm are devoted to protecting investors’ rights throughout the United States and internationally! Please visit our website, www.secatty.com, post a comment, call (800) 732-2889, or email Mr. Pearce at email@example.com for answers to any of your questions about this blog post and/or any related matter.