Did Andrew Jay Lowe Cause You Investment Losses?
Andrew Jay Lowe of Leesburg, Alabama submitted a Letter of Acceptance, Waiver, and Consent (AWC) in which he was fined and suspended by the Financial Industry Regulatory Authority (FINRA) for allegations relating to recommendations of unsuitable trades and failing to timely amend his Uniform Application for Securities Industry Registration or Transfer (“Form U4”).
Andrew Lowe was registered with Sterne Agee Financial Services (Sterne Agee) as a General Securities Representative from January 2009 until September 2014. According to FINRA’s findings, during the relevant period, Mr. Lowe recommended and participated in unsuitable trading of Class A mutual funds in 24 customers’ accounts. Specific portions of those investments were then liquidated within a short time period and were unsuitable. FINRA also alleged that Mr. Lowe caused these customers to incur unnecessary sales charges in their accounts. FINRA investigators found that Mr. Lowe earned approximately $36,180.87 in commissions. Subsequently, the firm reimbursed the customers $102,446.47 that resulted from the unsuitable recommendations. FINRA also determined that Mr. Lowe allegedly failed to timely amend his Form U4 to disclose a federal tax lien of $183,380.57.
Without admitting or denying FINRA’s allegations, Andrew Jay Lowe consented to a fine of $20,000 and was ordered to pay $36,180.87 in disgorgement of commissions received. He received a suspension from associating with any FINRA member in all capacities for nine months.
Alabama has thousands of stock brokerage firms and investment advisory offices. With so many stock brokerage firms and investment advisory offices, comes the potential for their stockbrokers, financial advisors, and other representatives to recommend unsuitable securities investments in light of the customers stated investment objectives, risk tolerance, financial condition, time horizon and other important factors and to engage in many other kinds of stockbroker fraud and stockbroker misconduct which violates Federal and Alabama securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures.
Experienced Unsuitable Investment Lawyers Who Handle FINRA Arbitrations Throughout Alabama and Nationwide.
Are you an Alabama investor who has suffered significant losses in your stock brokerage and investment accounts? Did they recommend unsuitable securities transactions or strategies? Broker-Dealer attorneys always argue to the arbitration panel the securities transactions (buy, sell or hold) and/or strategies to engage in short selling, trade on margin, use securities based lending and complex option or futures trading strategies were suitable for the customer. They routinely misrepresent the customers’ investment objectives, risk tolerance and financial condition on account documents. 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.
More importantly, you will need the representation of an experienced, top rated and nationally recognized FINRA arbitration attorney — a lawyer who knows FINRA rules and procedures and how to handle these FINRA arbitration cases and other complex legal issues. By hiring a top rated securities attorney like Robert Wayne Pearce with over 40 years of experience on both sides of the table in FINRA arbitration proceedings, you will clearly see that Attorney Pearce doesn’t just handle cases—he aggressively represents investors and is one of the best securities attorneys to recover your investment losses for unsuitable recommendations and all types of stockbroker fraud and stockbroker misconduct in FINRA arbitration proceedings!
At The Law Offices of Robert Wayne Pearce, P.A., we represent investors with securities breach of fiduciary duty claims and many other kinds of securities law and investment disputes in FINRA arbitration and mediation proceedings. We handle a wide range of practice areas besides breach of fiduciary duty, such as claims involving securities misrepresentation and stockbroker fraud, negligence, failure to supervise, and unsuitable recommendations by stockbrokers and investment advisors. Attorney Pearce and his staff represent investors throughout Alabama, 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.
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Free Initial Consultation With An Experienced Attorney Serving Alabama Residents in FINRA Arbitrations Involving Unsuitable Investment Claims
The Law Offices of Robert Wayne Pearce, P.A. are highly experienced lawyers who successfully handle unsuitable investment claims and other investment disputes in FINRA arbitration proceedings, and who work tirelessly to secure the best possible result for you and your case. For dedicated representation by an attorney with over 40 years of experience and success in all kinds of securities law and investment disputes in FINRA arbitrations serving Alabama citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.