Did Nina Maines Cause You Investment Losses?
Nina Maines of Baldwinsville, New York was fined $5,000 and suspended from association with any FINRA member for a period of 15 business days. The sanctions were based on findings that she exercised discretionary trading without authorization in violation of NASD Rule 2510(b) is also a violation of FINRA Rule 2010. The suspension was in effect from October 19, 2020, through November 6, 2020.
In March 2003, Nina Maines joined Cadaret Grant and registered as a General Securities Representative and an Investment Company and Variable Contracts Products Representative. According to the FINRA findings, Maines allegedly exercised 75 discretionary trades in 24 customer accounts. The findings stated that although Maines had contacted each customer days prior and acknowledged her trading, she had not received written consent from them or approval from her firm. Maines is currently still associated with Cadaret Grant.
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 Baldwinsville, 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 Lawyers Serving Baldwinsville, 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.
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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.