Capital Financial Unsuitable Investment Attorney - Law Offices of Robert Wayne Pearce

114 search results found for “Capital Financial Unsuitable Investment Attorney”

Dec 11, 2021

Essex, Vermont Private Placement Investment Dispute Lawyer

Did Louis Maurice Olave Cause You Investment Losses? Louis Maurice Olave of Essex, Vermont submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was fined $5,000 and suspended from association with any FINRA member for a capacity of three months. The sanction was based on findings that he participated in private securities transactions in violation of FINRA Rules 3280 and 2010. The suspension was in effect from May 3, 2021, through August 2, 2021. From November 10, 2015, through February 20, 2019, Louis Maurice Olave was registered as an Investment Company and Variable Contracts Products Representative with Questar Capital Corporation. According to FINRA’s findings, Olave allegedly solicited seven investors to purchase $217,477 in securities of Future Income Payments, LLC with a seven to eight-percent rate of return on their investment. The findings state that Olave received a total of $3,795 in commissions in connection with the sales and did not provide notice or seek approval from his member firm prior to participating in the sales. Louis Maurice Olave is currently registered with another member firm and remains subject to FINRA’s jurisdiction. FINRA Rule 3280(e) generally defines 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) states that “[p]rior 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.” Rule 3280(c) states that when an associated person has received or may receive selling compensation, the member firm shall provide written approval or disapproval of the associated person’s participation in the proposed private securities transaction. A violation of Rule 3280 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 Vermont Private Placement Investment Attorney? Are you a Vermont investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Vermont 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 Essex, Vermont 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 Vermont, 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 Vermont citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Dec 9, 2021

Tampa, Florida Private Placement Investment Dispute Attorney

Did Frederick Joseph Rock Cause You Investment Losses? Frederick Joseph Rock of Tampa, Florida submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was fined $5,000 and suspended from association with any FINRA member for a capacity of five months. The sanctions were based on findings that that he participated in private securities transactions in violation of FINRA Rules 3280 and 2010. The suspension was in effect from May 3, 2021, through October 2, 2021. In July 2014, Frederick Joseph Rock joined Pruco Securities, LLC and became registered as a General Securities Representative (GS). According to FINRA’s findings, Rock allegedly solicited 17 investors to purchase private-placement investments in a start- up company developing waste-to-energy technology totaling $409,200. The FINRA findings state that in addition to recommending the stocks, Rock also helped the investors complete stock purchase agreements and collected their stock purchase agreements and investment checks to provide to the company. The findings further state that although Rock had not received compensation for the sales, he did not provide notice or seek approval from Pruco before participating in the transactions. Frederick Joseph Rock is not currently associated with any FINRA member firm and remains subject to FINRA’s jurisdiction. FINRA Rule 3280(e) generally defines 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) states that “[p]rior 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.” Rule 3280(c) states that when an associated person has received or may receive selling compensation, the member firm shall provide written approval or disapproval of the associated person’s participation in the proposed private securities transaction. A violation of Rule 3280 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 Florida Private Placement Investment Attorney? Are you a Florida investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Florida 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 Attorneys Serving Tampa, Florida 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 Florida, 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 Florida citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Nov 17, 2021

Ramsey, New Jersey FINRA Securities Arbitration Attorney

Did Scott David Fergang Cause You Investment Losses? Scott David Fergang of Ramsey, New Jersey submitted a Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority in which he was fined $5,000 and suspended from association with any FINRA member in all capacities for a period of 15 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 May 17, 2021, through June 7, 2021. In July 2015, Scott David Fergang joined RBC Capital Markets, LLC and became registered as a General Securities Sales Supervisor. The firm later filed a Uniform Termination for Securities Industry Registration, disclosing that Fergang was terminated due to alleged misconduct. According to FINRA’s findings, from February 15 through March 2019, Fergang allegedly exercised discretionary trading in four customers’ accounts effecting approximately 814 transactions. The findings state that prior to placing the trades, Fergang allegedly failed to obtain written authorization from the customers to exercise discretion in their accounts and RBC did not accept any as discretionary accounts. Scott David Fergang is currently registered with a FINRA member firm and remains subject to FINRA’s jurisdiction. 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, to “observe high standards of commercial honor and just and equitable principles of trade.”. Do You Need a New Jersey FINRA Securities Arbitration Attorney? Are you a New Jersey investor who has suffered significant losses in your stock brokerage and investment accounts? Did your New Jersey 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 Ramsey, New Jersey 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 Jersey, 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 Jersey citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Sep 19, 2021

Atlantic Highlands, New Jersey FINRA Securities Arbitration Attorney

Did Louise Jones Cause You Investment Losses? Louise Jones of Atlantic Highlands, New Jersey submitted a Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority in which she was fined $5,000 and suspended from association with any FINRA member in all capacities for a period of two months. The sanctions were based on findings that she allegedly engaged in outside business activities in violation of FINRA Rules 3270 and 2010. The suspension was in effect from March 15, 2021, through May 14, 2021. From January 2017 through January 2020, Louise Jones was registered with three different FINRA member firms. According to FINRA, one of the associated firms, Craft Capital, filed a Uniform Termination for Securities Industry Registration (Form U5) terminating Jones’s registration due to alleged misconduct. The findings state that while associated with all three firms, Jones also worked for a publicly traded company and served as the Chief Executive Officer and a board member without providing notice to any of the firms. The findings further state that Jones did not disclose her involvement with the company in her new employee paperwork or in an annual compliance questionnaire submitted to Craft Capital and received approximately $41,000 in compensation from the company. Although Louise Jones no longer registered or associated with a FINRA member firm she remains subject to FINRA’s jurisdiction. 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, to “observe high standards of commercial honor and just and equitable principles of trade.”. Do You Need a New Jersey FINRA Securities Arbitration Attorney? Are you an Atlantic Highlands, New Jersey investor who has suffered significant losses in your stock brokerage and investment accounts? Did your New Jersey 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 Atlantic Highlands, New Jersey 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 Jersey, 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 Jersey citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Sep 17, 2021

Woodmere, New York Private Placement Investment Dispute Attorney

Did Dalmore Group LLC Cause You Investment Losses? Dalmore Group LLC of Woodmere, New York submitted Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority in which they were censured and fined $40,000. The sanctions were based on findings that the firm failed to establish and maintain a supervisory system, including written supervisory procedures, and failed to submit required offering documents to FINRA in violation of FINRA Rules 3110, 5123, and 2010. Since November 2005, Dalmore Group LLC (Dalmore) has been registered with FINRA and has approximately 40 registered representatives in their three branches. According to FINRA’s findings, from April 2017 through February 2019, Dalmore failed to conduct and document investigations regarding two private placements by relying almost exclusively on the issuers, before they allowed them to be recommended and sold. The findings state that as a result of the misconduct, the firm failed to uncover relevant information on the issuer of the private placements. In addition, FINRA findings state that Dalmore failed to file offering documents for 26 private placements within the allowed 15 calendar days and instead made its filings from 16 days to 335 days after the date of the first sale. FINRA Rule 3110(a) requires that FINRA members “establish and maintain a system to supervise the activities of each associated person that is reasonably designed to achieve compliance with applicable securities laws and regulations, and with applicable FINRA rules.” FINRA Rule 3110(b) requires that each FINRA member “establish, maintain, and enforce written procedures to supervise the types of business in which it engages and the activities of its associated persons that are reasonably designed to achieve compliance with the applicable securities laws and regulations, and with applicable FINRA Rules.” A violation of FINRA Rule 3110 also constitutes a violation of FINRA Rule 2010, which requires member firms to “observe high standards of commercial honor and just and equitable principles of trade.” A broker-dealer has a duty to conduct a reasonable investigation concerning any private placement offering that it recommends and sells to its customers. FINRA Regulatory Notice 10-22 explains that the amount and nature of the investigation turns on various factors, including, but not limited to, “the nature of the recommendation, the role of the broker in the transaction, its knowledge and relationship to the issuer, and the size and stability of the issuer.” Regulatory Notice 10-22 further reminds firms that they must have supervisory procedures that are reasonably designed to ensure, among other things, that the firm’s personnel investigate each private placement the firm recommends and that they do so in a manner that is sufficiently rigorous to comply with all legal and regulatory requirements. FINRA Rule 5123 requires that a member that sells a security in a non-public offering in reliance on an available exemption from registration under the Securities Act of 1933 must: (i) submit to FINRA, or have submitted on its behalf, a copy of any private placement memorandum, term sheet or other offering document, used in connection with such sale within 15 calendar days of the date of first sale, or (ii) notify FINRA that no such offering documents were used. Rule 5123 was implemented to “enhance oversight and investor protection” and provide “more timely and complete information about the private placement activities of firms on behalf of other issuers. Do You Need a New York Attorney for a Private Placement Investment Dispute? Are you a Woodmere, New York investor who has suffered significant losses in your stock brokerage and investment accounts? Did your New York 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 Attorneys Serving Woodmere, 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.

Sep 9, 2021

Aliso Viejo, California Private Placement Investment Dispute Attorney

Did Jeffrey David Stanga Cause You Investment Losses? Jeffrey David Stanga of Aliso Viejo, California submitted a Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority in which he was fined $10,000, suspended from association with any FINRA member in all capacities for a period of 12 months and ordered to pay disgorgement of benefits received in the amount of $28,359, plus interest. The sanctions were based on findings that he allegedly failed to fully disclose his outside business activities and participated in private securities transactions in violation of FINRA Rules 3270, 3280, and 2010. The suspension is in effect from April 5, 2021, through April 4, 2022. In October 2014, Jeffrey David Stanga joined FMN Capital while registered as a General Securities Representative. According to FINRA’s findings, Stanga allegedly participated in outside business activities and private transactions without notice or approval from his member firm. The findings state that although Stanga had informed his firm of certain outside business activities, he failed to disclose the fact that he served as a manager for an investment-related business and previously sold promissory notes of approximately $1,160,000 to four investors in connection with a real estate brokerage firm. In addition, Stanga received $28,359 in referral fees in connection with the private transactions that he was ordered to pay back. Although Jeffrey David Stanga is no longer registered with a FINRA member firm, he remains subject to FINRA’s jurisdiction. FINRA Rule 3270 provides that “[n]o registered person may be an employee, independent contractor, sole proprietor, officer, director or partner of another person, or be compensated, 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.” A violation of FINRA Rule 3270 is also a violation of FINRA Rule 2010. FINRA Rule 3280, and its predecessor, NASD Rule 3040, requires that prior to participating in a private securities transaction, a person associated with a member firm shall provide written notice to his or her firm, “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.” Do You Need a California Private Placement Investment Attorney? Are you an Aliso Viejo, California investor who has suffered significant losses in your stock brokerage and investment accounts? Did your California 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 Aliso Viejo, California 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 California, 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 California citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Sep 2, 2021

Englewood, New Jersey Private Placement Investment Dispute Attorney

Did Tonya Nicole Smoake Cause You Investment Losses? Tonya Nicole Smoake of Englewood, New Jersey submitted a Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority in which she was fined $5,000 and suspended from association with any FINRA member in all capacities for a period of 12 months. The sanctions were based on findings that she participated in private securities transactions in violation of FINRA Rules 3280 and 2010. The suspension is in effect from April 5, 2021, through April 4, 2022. In March 2017, Tonya Nicole Smoake joined Purshe Kaplan Sterling Investments while registered as a General Securities Representative. The firm later filed a Uniform Termination Notice for Securities Industry Registration (Form U5) disclosing that she had voluntarily resigned due to alleged misconduct. According to FINRA’s findings, Smoake allegedly participated in private securities transactions involving approximately $1.6 million without providing prior written notice to the firm. The findings state that Smoake distributed offering documents to the investors, gathered the signed documents, answered the investors questions, and coordinated all payments. In addition to the findings, Smoake did not receive any commissions from the sales and falsely attested her involvement in any private securities transactions on the firm’s annual compliance questionnaires . Although Tonya Nicole Smoake is not currently registered or associated with a FINRA member, she remains subject to FINRA’s jurisdiction. Do You Need a New Jersey Private Placement Investment Attorney? FINRA Rule 3280(b) states 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.” FINRA Rule 3280(e) defines “private securities transaction” as “any securities transaction outside the regular course or scope of an associated person’s employment with a member.” A violation of FINRA Rule 3280 is also a violation of FINRA Rule 2010, which provides that representatives of member firms “shall observe high standards of commercial honor and just and equitable principles of trade.” Are you a New Jersey investor who has suffered significant losses in your stock brokerage and investment accounts? Did your New Jersey 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 Attorneys Serving Englewood, New Jersey 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 Jersey, 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 Jersey citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Aug 19, 2021

Boca Raton, Florida Lawyer Who Sues Stockbrokers For Unsuitable Investment Recommendations

Did Jeffrey Fladell Cause You Investment Losses? Jeffrey Fladell of Boca Raton, Florida submitted a Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority in which he was fined $5,000 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 made unsuitable recommendations which resulted in overconcentration in high-yield municipal bonds in violation of MSRB Rule G-19. The suspension was in effect from April 5, 2021, through July 4, 2021. In October 2009, Jeffrey Fladell joined RBC Capital Markets LLC while registered as a General securities Representative and as a General Securities Principal. According to FINRA’s findings, Fladell repeatedly recommended that a customer over 100 years old, invest in bonds using both of her trust accounts that had an investment objective with low risk tolerance. The findings state that 86 percent of one trust account and 100 percent of the other consisted of risky high-yield municipal bonds within a year period due to the unsuitable recommendations. Although Jeffrey Fladell is not currently registered or associated with a FINRA member firm, he remains subject to FINRA’s jurisdiction. MSRB Rule G-19 requires that a broker, dealer or municipal securities dealer “have a reasonable basis to believe that a recommended transaction or investment strategy involving a municipal security or municipal securities is suitable for the customer, based on the information obtained through the reasonable diligence of the broker, dealer or municipal securities dealer to ascertain the customer’s investment profile. A customer’s investment profile includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance, and any other information the customer may disclose to the broker, dealer or municipal securities dealer in connection with such recommendation.” Do You Need a Florida Unsuitable Investment Recommendation Attorney? Are you a Florida investor who has suffered significant losses in your stock brokerage and investment accounts? Did they recommend unsuitable securities transactions or strategies? Suitability claims can be based upon the stockbroker or investment advisor’s fiduciary duty, duty to use reasonable care, or FINRA Rule 2111. If you believe that your stockbroker or investment advisor made unsuitable recommendations, you need a skilled securities arbitration attorney who knows all the investments, investment strategies and stockbroker tricks of the trade. Free Initial Consultation With Experienced Lawyers Serving Boca Raton, Florida Residents in FINRA Securities Arbitrations Involving Unsuitable Investment Claims 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 Florida, 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 Florida citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Aug 17, 2021

West Hempstead, New York Lawyer Who Sues Stockbrokers For Unsuitable Investment Recommendations

Did Edmund Zack Cause You Investment Losses? Edmund Zack of West Hempstead, New York submitted a Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority in which he was fined $10,000, suspended from association with any FINRA member in all capacities for a period of eight months and ordered to pay $5,161 plus interest in deferred disgorgement of commissions received. The sanctions were based on findings that he allegedly made unsuitable recommendations, engaged in discretionary, excessive and quantitively unsuitable trading and caused his firm to maintain inaccurate books and records in violation of NASD Rule 2510(b), FINRA Rules 4511, 2111 and 2010. The suspension is in effect from April 5, 2021, through December 4, 2021. From June 2012 through October 2017, Edmund Zack was registered with Aegis Capital Corp. as a General Securities Representative. According to FINRA’s findings, Zack allegedly recommended that a customer trade in speculative, low-priced securities and increase his trading capacity, without having a reasonable basis to believe that the recommendation was in fact suitable considering the customers investment profile and limited investment experience. The findings state that the customer paid a total of $10,44 in commissions and suffered a loss of $11,357. The findings further state that Zack allegedly exercised discretionary trading in 27 customers accounts without authorization from both the customers and his firm and caused his firm to maintain inaccurate books and records by marking order tickets as solicited, when in fact they were not. Although Edmund Zack is not currently registered or associated with a FINRA member, he remains subject to FINRA’s jurisdiction. FINRA Rule 2111 requires, among other things, a registered representative to have a reasonable basis to believe that a recommended transaction or investment strategy is suitable for a customer based on that customer’s specific investment profile. When evaluating suitability, FINRA Rule 2111 requires a registered representative to consider, among other things, the customer’s investment objectives, risk tolerance, financial situation, and investment experience. FINRA Rule 4511 requires member firms to make and preserve books and records in conformity with Section 17(a) of the Exchange Act and Exchange Act Rule 17a-3. Rule 17a-3 requires firms to make and keep accurate records of, among other things, instructions for the purchase or sale of a security. A registered representative who enters inaccurate information on an order ticket causes his member firm to maintain inaccurate books and records in violation of Exchange Act § 17(a) and Exchange Act Rule 17a-3, and violates FINRA Rule 4511. NASD Rule 2510(b) prohibits registered representatives from exercising discretionary authority in a customer’s account unless the customer has given prior written authorization to the representative and the account has been accepted in writing by the representative’s member firm as a discretionary account. 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 New York investor who has suffered significant losses in your stock brokerage and investment accounts? Did they recommend unsuitable securities transactions or strategies? Suitability claims can be based upon the stockbroker or investment advisor’s fiduciary duty, duty to use reasonable care, or FINRA Rule 2111. If you believe that your stockbroker or investment advisor made unsuitable recommendations, you need a skilled securities arbitration attorney who knows all the investments, investment strategies and stockbroker tricks of the trade. Free Initial Consultation With Experienced Lawyers Serving West Hempstead, New York Residents in FINRA Securities Arbitrations Involving Unsuitable Investment Claims 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 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.

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