Boston, Massachusetts based LPL Financial LLC submitted a Letter of Acceptance, Waiver and Consent (AWC) in which the firm agreed to, without admitting or denying, the described penalties and the entry of the Financial Industry Regulatory Authority’s (FINRA) findings that it purchased municipal securities for its own account from a customer and/or sold municipal securities for its own account to a customer at an aggregate price (including any commission or service charge) that was unfair and unreasonable. Factors taken into account were the best judgment of the broker-dealer or municipal securities dealer as to the fair market value of the securities at the time of the transaction and of any securities exchanged or traded pertaining to the transaction; the expense required in effecting the transaction; the fact that the broker-dealer or municipal securities dealer is entitled to a profit; and the total dollar amount of the transaction. FINRA also found that in corporate bond transactions, the firm did not use reasonable diligence to ascertain the best inter-dealer market and failed to buy or sell in such market so that the resulting price to its customer was as favorable as possible under prevailing market conditions. The firm was censured and fined $60,000.
Do You Need a Stockbroker Fraud Lawyer?
Massachusetts 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 engage in one or more kinds of stockbroker fraud. They could make misrepresentations about investing in securities (stocks, bonds, options, mutual funds, REITs, Junk Bonds, Hedge Funds, Structured Products, etc.) they are selling. Unsuitable recommendations of the strategies they recommend (margin, short selling, option) is another kind of stockbroker fraud. They can engage in many other kinds of stockbroker fraud and stockbroker misconduct which violates Federal and Massachusetts securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures.
Experienced Stockbroker Fraud Lawyers Who Handle FINRA Arbitrations Throughout Massachusetts and Nationwide.
Are you a Massachusetts investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Massachusetts stockbroker or investment advisor, misrepresent facts about the securities, investments or strategies they were recommending or otherwise mismanage your investment account? If so, you need representation by an experienced, highly-rated and nationally recognized FINRA arbitration lawyer — an attorney who knows FINRA rules and procedures and how to handle these FINRA arbitration cases as well as other complex legal issues.
By hiring a top rated stockbroker fraud 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 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 misrepresentation claims and many other kinds of securities law and investment disputes in FINRA arbitration and mediation proceedings. We handle a wide range of practice areasbesides securities misrepresentation and stockbroker fraud claims such as stockbroker breach of fiduciary duty, stockbroker negligence, failure to supervise stockbrokers, and unsuitable recommendations by stockbrokers. Attorney Pearce and his staff represent investors throughout Massachusetts, 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
Free Initial Consultation With An Experienced Stockbroker Fraud Lawyer Serving Massachusetts Residents in FINRA Arbitrations
The Law Offices of Robert Wayne Pearce, P.A. are highly experienced lawyers who successfully handle securities misrepresentation, stockbroker fraud, stockbroker misconduct 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 Massachusetts citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.