Thomas Hogle of Houston, Texas submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Department of Enforcement of the Financial Industry Regulatory Authority (FINRA) for allegedly failing to provide documents and information requested by FINRA in connection to an investigation claiming unsuitable investment recommendations.
Hogle entered the securities when he became associated with a FINRA member in 1988 as a General Sales Representative. In October 2011, Hogle joined B.B. Graham & Company, Inc. (B.B. Graham) and became registered as a General Sales Representative.
In March 2015, FINRA requested Hogle provide documents and information pertaining to an investment recommendation. FINRA was conducting an investigation into allegations that Hogle made an unsuitable investment recommendation to a 101-year-old B.B. Graham client.
Hogle had until April 6, 2015 to cooperate with the FINRA investigation and provide documentation and information regarding the recommendation. Hogle did not provide any of the FINRA requested information. In a phone call with FINRA staff on April 15, 2015, Hogle acknowledged he had received FINRA’s complaint and that he would not provide the documents and information requested.
FINRA found that in doing so, Hogle violated FINRA Rules 8210 and 2010. Hogle without admitting or denying the FINRA findings, agreed to the sanctions and was barred from association with any FINRA member in any capacity.
Stockbrokers have been known to engage in many types of practices which violate industry and firm rules, practices, and procedures. In order to protect customers from stockbroker misconduct, FINRA rules require broker-dealers like B.B. Graham & Company to not only establish and implement a reasonable supervisory system but enforce their rules, policies and procedures. The implementation of the rules require supervisors to monitor employees to ensure they comply with federal and state securities laws, securities industry rules and regulations, and the firms, such as B.B. Graham & Company own policies and procedures. If broker dealers and/or their supervisors do not establish, implement and enforce these protective measures, they may be liable to investors for damages which flow from the misconduct. As a result, investors who have suffered losses because of their stockbroker’s unlawful or prohibited conduct can file a claim to recover damages against broker dealers like B.B. Graham & Company, which should consistently oversee its employees in order to prevent stockbroker misconduct.
Have you suffered losses in your B.B. Graham & Company investment account due to your stockbroker’s 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 stockbrokers for unsuitable recommendations, misrepresentations, and/or other unauthorized and prohibited conduct.
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 40 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 post a comment, call (800) 732-2889, send Mr. Pearce an email at firstname.lastname@example.org, and/or visit our website at www.secatty.com for answers to any of your questions about this blog post and/or any related matter.