Heathrow Florida FINRA 8210 Defense Lawyers

Garth Mather of Heathrow Florida was sanctioned by FINRA for failing to appear on an on-the-record interview. Mr. Mather was under investigation by FINRA for alleged fraud, sales practice violations, and membership violations. According to FINRA, the alleged fraud occurred when Mr. Mather was a member of Perrott, Mather & Gilday Inc. (PMGI). Mr. Mather was asked to give on-the-record testimony but failed to appear on three separate occasions. For violating FINRA Conduct Rule 2010 and FINRA Procedural Rule 8210, Mr. Mather was barred from any association with FINRA in any capacity. Do You Need a FINRA 8210 Defense Attorney? You may have read that Garth Mather of Heathrow, Florida was permanently barred by the Financial Industry Regulatory Authority (“FINRA”) from working in the securities industry because he violated FINRA Rule 8210. He could have avoided that FINRA 8210 bar from the securities industry with a skilled and experienced FINRA 8210 defense attorney. My guess is that you are reading this article because you probably just received a letter from FINRA via certified mail that states: You are notified that the FINRA office is conducting an inquiry to determine whether violations of the federal securities laws or FINRA, NASD, NYSE, or MSRB rules have occurred. In the next paragraph, you are being requested, “Pursuant to FINRA Rule 8210,” to provide a slew of documents and/or to appear at a FINRA office to give “On-the-Record” testimony and then you read the warning: Under FINRA Rule 8210, you are obligated to respond to this request fully, promptly and without qualification.  You are also obligated to supplement or correct any response that you later learned to have been incomplete or inaccurate.  If you withhold any responsive documents or information, you must specifically identify what you are withholding and state the basis for your doing so.  Any failure on your part to satisfy these obligations could expose you to sanctions, including a permanent bar from the securities industry. To a FINRA registered representative, who has never received such a letter in their career, it can be intimidating and cause a great deal of anxiety.  You are probably asking yourself: Why did I get this letter? What does it mean to my career? What should I do or not do? First, you must not ignore the letter because if you do and are currently registered and still working with a broker dealer, you will be suspended, and if you still do not comply with the request, you will be permanently barred from working in the securities industry just like Garth Mather, above. Second, if you are still working for a brokerage firm, you must notify the firm and provide a copy of the FINRA letter to your immediate supervisor and/or compliance officer. Third, you will need advice from an experienced FINRA defense lawyer on how to respond to the FINRA inquiry and protect you from sanctions. If your employer is not going to supply legal counsel free of any conflict of interest or you are no longer registered and working for any firm, you will need to hire your own FINRA defense attorney. This FINRA letter marks the first stage and hopefully the last of any FINRA inquiry into a particular matter. At this point, you have not been accused of any violation of the law or any securities industry rule, and there will be no black marks on your FINRA record in the Central Record Depository (“CRD”) or on the FINRA BrokerCheck website. You want to keep it that way! As your FINRA defense lawyers, we will immediately reach out to FINRA, obtain a reasonable extension of time to comply with request for documents and/or date of your On-the-Record testimony to investigate the issue, and gather and review the information requested. We will determine the trigger event and/or nature of the inquiry, such as the following: Automated Surveillance Program flagging of potential insider trading, layering, algorithm gaming, wash sales, marking-the-close and open, front running, etc. Form U4 or U5 filing disclosing: customer complaints; arrests, criminal charges and convictions; Liens, Bankruptcies, and compromises with creditors; and/or outside business activities. Customer Complaints made directly to FINRA through its Hotline. Actions by or referrals from other regulatory agencies, like the SEC or state securities regulators. The less interaction you have with the FINRA investigator, and the more interaction your FINRA defense attorney has with the investigator the less harm you will inflict upon yourself. Sometimes the list of documents requested and/or questions asked are numerous and burdensome. Unfortunately, you simply cannot refuse to comply with the FINRA 8210 request and expose yourself to sanctions for non-compliance. As your FINRA defense lawyers, we will make sure that the FINRA investigator is not over-reaching and making unreasonable requests for documents, which you will have to supply; not only documents in your possession and custody, but you will also be required to supply documents within your “control,” such as bank statements and other records and/or tax returns in the files of your bank or accountant. As your FINRA defense attorneys, we will negotiate the scope of the document production with the investigator to ensure you are not being harassed by the regulator and producing only what is necessary for them to conduct their investigation. If you are being scheduled for an On-the-Record (“OTR”) examination, FINRA’s equivalent to a deposition without any rules, we will prepare you for the examination and advise you on your limited rights and how to answer the questions truthfully to lessen the consequences of your testimony. In the end, it is our goal as your FINRA defense lawyer to end the inquiry after the OTR in the shortest amount of time and at the least expense. Unfortunately, in many cases, the FINRA investigators and attorneys already have the evidence they need and determined that a violation of the securities laws or industry rules has occurred and are determined to bring an enforcement action. So, it is important, early on, to have a FINRA defense attorney advise...

Continue Reading

Lithia Florida FINRA 8210 Defense Lawyers

Marco Caporale of Lithia Florida was sanctioned by FINRA for failing to appear on-the-record for testimony. Mr. Caporale was under investigation for alleged fraud, sales practice violations, and membership violations. According to FINRA, the alleged fraud occurred when Mr. Caporale was a member of Kovack Securities Inc. Mr. Caporale was asked to give on-the-record testimony but failed to appear. For violating FINRA Conduct Rule 2010 and FINRA Procedural Rule 8210, Mr. Caporale was barred from any association with FINRA in any capacity. Do You Need a FINRA 8210 Defense Attorney? You may have read that Marco Caporale of Lithia, Florida was permanently barred by the Financial Industry Regulatory Authority (“FINRA”) from working in the securities industry because he violated FINRA Rule 8210. He could have avoided that FINRA 8210 bar from the securities industry with a skilled and experienced FINRA 8210 defense attorney. My guess is that you are reading this article because you probably just received a letter from FINRA via certified mail that states: You are notified that the FINRA office is conducting an inquiry to determine whether violations of the federal securities laws or FINRA, NASD, NYSE, or MSRB rules have occurred. In the next paragraph, you are being requested, “Pursuant to FINRA Rule 8210,” to provide a slew of documents and/or to appear at a FINRA office to give “On-the-Record” testimony and then you read the warning: Under FINRA Rule 8210, you are obligated to respond to this request fully, promptly and without qualification.  You are also obligated to supplement or correct any response that you later learned to have been incomplete or inaccurate.  If you withhold any responsive documents or information, you must specifically identify what you are withholding and state the basis for your doing so.  Any failure on your part to satisfy these obligations could expose you to sanctions, including a permanent bar from the securities industry. To a FINRA registered representative, who has never received such a letter in their career, it can be intimidating and cause a great deal of anxiety.  You are probably asking yourself: Why did I get this letter? What does it mean to my career? What should I do or not do? First, you must not ignore the letter because if you do and are currently registered and still working with a broker dealer, you will be suspended, and if you still do not comply with the request, you will be permanently barred from working in the securities industry just like Marco Caporale, above. Second, if you are still working for a brokerage firm, you must notify the firm and provide a copy of the FINRA letter to your immediate supervisor and/or compliance officer. Third, you will need advice from an experienced FINRA defense lawyer on how to respond to the FINRA inquiry and protect you from sanctions. If your employer is not going to supply legal counsel free of any conflict of interest or you are no longer registered and working for any firm, you will need to hire your own FINRA defense attorney. This FINRA letter marks the first stage and hopefully the last of any FINRA inquiry into a particular matter. At this point, you have not been accused of any violation of the law or any securities industry rule, and there will be no black marks on your FINRA record in the Central Record Depository (“CRD”) or on the FINRA BrokerCheck website. You want to keep it that way! As your FINRA defense lawyers, we will immediately reach out to FINRA, obtain a reasonable extension of time to comply with request for documents and/or date of your On-the-Record testimony to investigate the issue, and gather and review the information requested. We will determine the trigger event and/or nature of the inquiry, such as the following: Automated Surveillance Program flagging of potential insider trading, layering, algorithm gaming, wash sales, marking-the-close and open, front running, etc. Form U4 or U5 filing disclosing: customer complaints; arrests, criminal charges and convictions; Liens, Bankruptcies, and compromises with creditors; and/or outside business activities. Customer Complaints made directly to FINRA through its Hotline. Actions by or referrals from other regulatory agencies, like the SEC or state securities regulators. The less interaction you have with the FINRA investigator, and the more interaction your FINRA defense attorney has with the investigator the less harm you will inflict upon yourself. Sometimes the list of documents requested and/or questions asked are numerous and burdensome. Unfortunately, you simply cannot refuse to comply with the FINRA 8210 request and expose yourself to sanctions for non-compliance. As your FINRA defense lawyers, we will make sure that the FINRA investigator is not over-reaching and making unreasonable requests for documents, which you will have to supply; not only documents in your possession and custody, but you will also be required to supply documents within your “control,” such as bank statements and other records and/or tax returns in the files of your bank or accountant. As your FINRA defense attorneys, we will negotiate the scope of the document production with the investigator to ensure you are not being harassed by the regulator and producing only what is necessary for them to conduct their investigation. If you are being scheduled for an On-the-Record (“OTR”) examination, FINRA’s equivalent to a deposition without any rules, we will prepare you for the examination and advise you on your limited rights and how to answer the questions truthfully to lessen the consequences of your testimony. In the end, it is our goal as your FINRA defense lawyer to end the inquiry after the OTR in the shortest amount of time and at the least expense. Unfortunately, in many cases, the FINRA investigators and attorneys already have the evidence they need and determined that a violation of the securities laws or industry rules has occurred and are determined to bring an enforcement action. So, it is important, early on, to have a FINRA defense attorney advise you on how not to make matters worse and resolve...

Continue Reading

Saint Louis, Missouri FINRA 8210 Defense Lawyers

Did Cynthia Kay Parrott Cooney Cause You Investment Losses? You may have read that Cynthia Kay Parrott Cooney of Saint Louis, Missouri was permanently barred by the Financial Industry Regulatory Authority (“FINRA”) from working in the securities industry because she failed to comply with FINRA Rule 8210. In May 1990, Cynthia Kay Parrott Cooney joined Wells Fargo Advisors as an unregistered Client Associate. According to the findings, FINRA sent a request to Cooney to appear for an on-the-record testimony during an ongoing investigation. The findings stated that Cooney responded to FINRA in an email stating that she allegedly received, acknowledged, and refused to cooperate with the investigation. Although Cooney is no longer associated with a FINRA member, she remains subject to FINRA’s jurisdiction. FINRA Rule 8210(a)(1) states, in relevant part, that FINRA may require any “person associated with a member, or any other person subject to FINRA’s jurisdiction to testify at a location specified by FINRA staff with respect to any matter involved in the investigation.” A violation of FINRA Rule 8210 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 Missouri FINRA Defense Lawyer? Unfortunately, Cynthia Kay Parrott might have avoided that FINRA 8210 bar from the securities industry with a skilled and experienced FINRA 8210 defense attorney. It is important, early on, to have a FINRA defense attorney advise you on how not to make matters worse and resolve the dispute with the least amount of sanctions which could range from censures to fines, suspensions, permanent bars, and/or referrals to federal or state prosecutors. You will need an experienced FINRA defense lawyer who not only has knowledge of FINRA rules and procedures, the securities laws and the appropriate sanction for the alleged misconduct but also has an excellent reputation and credibility with the FINRA attorneys to negotiate the best outcome. Free Initial Consultation With FINRA 8210 Defense Attorney Serving Financial Advisors Throughout Saint Louis, Missouri And Nationwide The Law Offices of Robert Wayne Pearce, P.A. understands what is at stake in FINRA securities law matters and works tirelessly to secure the best possible result for you and your case.  Attorney Pearce’s FINRA defense skills are highly regarded throughout Missouri and across the nation.  For dedicated representation by an attorney with over 40 years of experience and success in all kinds of FINRA disputes serving Missouri citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889, or via e-mail. 

Continue Reading

Staten Island, New York FINRA 8210 Defense Lawyers

Did Alec C. Franks Cause You Investment Losses? You may have read that Alec C. Franks of Staten Island, New York was permanently barred by the Financial Industry Regulatory Authority (“FINRA”) from working in the securities industry because he failed to comply with FINRA Rule 8210 and 2010. From August 2014 through April 2019, Alec C. Franks was registered under multiple capacities with First Standard Financial Company, LLC. According to the findings, FINRA sent a request to Franks during an investigation regarding his alleged involvement in outside business activities and excessive trading. The findings stated that Franks had initially cooperated with FINRA but later stated in an email that he allegedly acknowledged the request and refused to provide the documents. Although Alec C. Franks is no longer associated with any FINRA member, he remains subject to FINRA’s jurisdiction. FINRA Rule 8210(a) states that, for purposes of an investigation, FINRA may require any person subject to its jurisdiction to provide information and to permit FINRA staff to inspect and copy books and records that are in the person’s possession, custody, or control. FINRA Rule 8210(c) provides that “no person shall fail to provide information or to permit an inspection and copying of books, records, or accounts pursuant to this Rule.” A violation of FINRA Rule 8210 also is a violation of FINRA Rule 2010. Do you need a New York FINRA Defense Lawyer? Unfortunately, Alec C. Franks might have avoided that FINRA 8210 bar from the securities industry with a skilled and experienced FINRA 8210 defense attorney. It is important, early on, to have a FINRA defense attorney advise you on how not to make matters worse and resolve the dispute with the least amount of sanctions which could range from censures to fines, suspensions, permanent bars, and/or referrals to federal or state prosecutors. You will need an experienced FINRA defense lawyer who not only has knowledge of FINRA rules and procedures, the securities laws and the appropriate sanction for the alleged misconduct but also has an excellent reputation and credibility with the FINRA attorneys to negotiate the best outcome. Free Initial Consultation With FINRA 8210 Defense Attorney Serving Financial Advisors Throughout Staten Island, New York And Nationwide The Law Offices of Robert Wayne Pearce, P.A. understands what is at stake in FINRA securities law matters and works tirelessly to secure the best possible result for you and your case.  Attorney Pearce’s FINRA defense skills are highly regarded throughout New York and across the nation.  For dedicated representation by an attorney with over 40 years of experience and success in all kinds of FINRA disputes serving New York citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889, or via e-mail.

Continue Reading

Frisco, Texas FINRA 8210 Defense Lawyers

Did Peter Vincent Ianace Cause You Investment Losses? You may have read that Peter Vincent Ianace of Frisco, Texas was permanently barred by the Financial Industry Regulatory Authority (“FINRA”) from working in the securities industry because he failed to comply with FINRA Rule 8210 and 2010. Peter Vincent Ianace joined Merrill Lynch, Pierce, Fenner & Smith Inc. in October 2011 and was registered as a general securities representative. On June 8, 2020, the firm filed a Uniform Termination Notice for Securities Industry Registration (Form U5) indicating Ianace voluntary resignation. According to the findings, FINRA began an investigation and sent a request for documents and information regarding Ianace alleged failure to disclose outside business activities to his firm. The findings stated that Ianace initially cooperated but ceased in doing so during a phone call with FINRA, stating that he acknowledged and refused to provide the requested documentation. Although he is no longer registered with a FINRA member firm, Peter Vincent Ianace remains subject to FINRA’s jurisdiction. FINRA Rule 8210(a) states, in relevant part, that FINRA has the right to “require a … person associated with a member, or any other person subject to FINRA’s jurisdiction to provide information in writing or electronically with respect to any matter involved in [a FINRA] investigation, complaint, examination, or proceeding.” FINRA Rule 8210(c) provides that “no member or person shall fail to provide information pursuant to this Rule.” A violation of FINRA Rule 8210 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 Texas FINRA Defense Attorney? Unfortunately, Peter Vincent Ianace might have avoided that FINRA 8210 bar from the securities industry with a skilled and experienced FINRA 8210 defense attorney. It is important, early on, to have a FINRA defense attorney advise you on how not to make matters worse and resolve the dispute with the least amount of sanctions which could range from censures to fines, suspensions, permanent bars, and/or referrals to federal or state prosecutors. You will need an experienced FINRA defense lawyer who not only has knowledge of FINRA rules and procedures, the securities laws and the appropriate sanction for the alleged misconduct but also has an excellent reputation and credibility with the FINRA attorneys to negotiate the best outcome. Free Initial Consultation With FINRA 8210 Defense Attorney Serving Financial Advisors Throughout Frisco, Texas And Nationwide The Law Offices of Robert Wayne Pearce, P.A. understands what is at stake in FINRA securities law matters and works tirelessly to secure the best possible result for you and your case.  Attorney Pearce’s FINRA defense skills are highly regarded throughout Texas and across the nation.  For dedicated representation by an attorney with over 40 years of experience and success in all kinds of FINRA disputes serving Texas citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889, or via e-mail.

Continue Reading

Tampa, Florida FINRA 8210 Defense Lawyers

Did Neil James Buono Cause You Investment Losses? You may have read that Neil James Buono of Tampa, Florida was permanently barred by the Financial Industry Regulatory Authority (“FINRA”) from working in the securities industry because he failed to comply with FINRA Rule 8210. Neil James Buono joined Pruco Securities, LLC in March 2017, and registered as a Series 6 Investment Company and Variable Contracts Products Representative (IR). In October 2018  the firm filed a Uniform Termination Notice for Securities Industry Registration (Form U5) disclosing Buono’s voluntary resignation. According to the FINRA findings, Buono had allegedly created email accounts for two customers and signed their electronic signatures without their knowledge all while receiving unentitled compensation. FINRA then began an investigation regarding the allegations and sent multiple request to Buono to appear for on-the-record testimony. The findings stated that Buono later responded in an email that he acknowledged and received all the request and would not appear for the on-the-record testimony at any given time. Although Neil James Buono is no longer registered with any FINRA member firm, he remains subject to FINRA’s jurisdiction. FINRA Rule 8210 authorizes FINRA, for purposes of an investigation, complaint, examination, or proceeding authorized by the FINRA By-Laws or rules, to require a member, person associated with a member, or person subject to FINRA’s jurisdiction to provide information orally with respect to any matter involved in an investigation, complaint, examination or proceeding. Rule 8210 also specifies that no member or person shall fail to provide information or testimony pursuant to this rule. A violation of FINRA Rule 8210 also violates F1NRA Rule 2010. Do You Need a Florida FINRA Defense Attorney? Unfortunately, Neil James Buono might have avoided that FINRA 8210 bar from the securities industry with a skilled and experienced FINRA 8210 defense attorney. It is important, early on, to have a FINRA defense attorney advise you on how not to make matters worse and resolve the dispute with the least amount of sanctions which could range from censures to fines, suspensions, permanent bars, and/or referrals to federal or state prosecutors. You will need an experienced FINRA defense lawyer who not only has knowledge of FINRA rules and procedures, the securities laws and the appropriate sanction for the alleged misconduct but also has an excellent reputation and credibility with the FINRA attorneys to negotiate the best outcome. Free Initial Consultation With FINRA 8210 Defense Attorney Serving Financial Advisors Throughout Tampa, Florida And Nationwide The Law Offices of Robert Wayne Pearce, P.A. understands what is at stake in FINRA securities law matters and works tirelessly to secure the best possible result for you and your case. Attorney Pearce’s FINRA defense skills are highly regarded throughout Florida and across the nation.  For dedicated representation by an attorney with over 40 years of experience and success in all kinds of FINRA disputes serving Florida citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889, or via e-mail. 

Continue Reading

Margate Florida FINRA 8210 Defense Lawyers

John Pena of Margate Florida was sanctioned by the Financial Industry Regulatory Authority (FINRA) for accepting a client loan without his firm’s permission. Mr. Pena first became registered at the Concord Equity Group, LLC (CEG) as a General Securities Representative. FINRA found that Mr. Pena borrowed $20,000 from two customers without his firm’s approval. This was a direct violation of his employer member firm’s written procedures and NASD Rule 8210, NASD Conduct Rule 8210, and FINRA Conduct Rule 2010. According to FINRA, Mr. Pena failed to repay the loan, and when asked to provide documentation, Mr. Pena failed to timely and completely fulfill FINRA’s request. Mr. Pena agreed to settle the FINRA sanctions, without admitting or denying them, and was permanently barred from any association with any FINRA member. Do You Need a FINRA 8210 Attorney? You may have read that John Pena of Margate Florida was permanently barred by FINRA from working in the securities industry because he violated FINRA Rule 8210. He could have avoided that FINRA 8210 bar from the securities industry with a skilled and experienced FINRA 8210 defense attorney. My guess is that you are reading this article because you probably just received a letter from FINRA via certified mail that states: You are notified that the FINRA office is conducting an inquiry to determine whether violations of the federal securities laws or FINRA, NASD, NYSE, or MSRB rules have occurred. In the next paragraph, you are being requested, “Pursuant to FINRA Rule 8210,” to provide a slew of documents and/or to appear at a FINRA office to give “On-the-Record” testimony and then you read the warning: Under FINRA Rule 8210, you are obligated to respond to this request fully, promptly and without qualification.  You are also obligated to supplement or correct any response that you later learned to have been incomplete or inaccurate.  If you withhold any responsive documents or information, you must specifically identify what you are withholding and state the basis for your doing so.  Any failure on your part to satisfy these obligations could expose you to sanctions, including a permanent bar from the securities industry. To a FINRA registered representative, who has never received such a letter in their career, it can be intimidating and cause a great deal of anxiety.  You are probably asking yourself: Why did I get this letter? What does it mean to my career? What should I do or not do? First, you must not ignore the letter because if you do and are currently registered and still working with a broker dealer, you will be suspended, and if you still do not comply with the request, you will be permanently barred from working in the securities industry just like John Pena, above. Second, if you are still working for a brokerage firm, you must notify the firm and provide a copy of the FINRA letter to your immediate supervisor and/or compliance officer. Third, you will need advice from an experienced FINRA defense lawyer on how to respond to the FINRA inquiry and protect you from sanctions. If your employer is not going to supply legal counsel free of any conflict of interest or you are no longer registered and working for any firm, you will need to hire your own FINRA defense attorney. This FINRA letter marks the first stage and hopefully the last of any FINRA inquiry into a particular matter. At this point, you have not been accused of any violation of the law or any securities industry rule, and there will be no black marks on your FINRA record in the Central Record Depository (“CRD”) or on the FINRA BrokerCheck website. You want to keep it that way! As your FINRA defense lawyers, we will immediately reach out to FINRA, obtain a reasonable extension of time to comply with request for documents and/or date of your On-the-Record testimony to investigate the issue, and gather and review the information requested. We will determine the trigger event and/or nature of the inquiry, such as the following: Automated Surveillance Program flagging of potential insider trading, layering, algorithm gaming, wash sales, marking-the-close and open, front running, etc. Form U4 or U5 filing disclosing: customer complaints; arrests, criminal charges and convictions; Liens, Bankruptcies, and compromises with creditors; and/or outside business activities. Customer Complaints made directly to FINRA through its Hotline. Actions by or referrals from other regulatory agencies, like the SEC or state securities regulators. The less interaction you have with the FINRA investigator, and the more interaction your FINRA defense attorney has with the investigator the less harm you will inflict upon yourself. Sometimes the list of documents requested and/or questions asked are numerous and burdensome. Unfortunately, you simply cannot refuse to comply with the FINRA 8210 request and expose yourself to sanctions for non-compliance. As your FINRA defense lawyers, we will make sure that the FINRA investigator is not over-reaching and making unreasonable requests for documents, which you will have to supply; not only documents in your possession and custody, but you will also be required to supply documents within your “control,” such as bank statements and other records and/or tax returns in the files of your bank or accountant. As your FINRA defense attorneys, we will negotiate the scope of the document production with the investigator to ensure you are not being harassed by the regulator and producing only what is necessary for them to conduct their investigation. If you are being scheduled for an On-the-Record (“OTR”) examination, FINRA’s equivalent to a deposition without any rules, we will prepare you for the examination and advise you on your limited rights and how to answer the questions truthfully to lessen the consequences of your testimony. In the end, it is our goal as your FINRA defense lawyer to end the inquiry after the OTR in the shortest amount of time and at the least expense. Unfortunately, in many cases, the FINRA investigators and attorneys already have the evidence they need and determined that a...

Continue Reading

Cheshire, Connecticut FINRA 8210 Defense Lawyers

Did Matthew O. Clason Cause You Investment Losses? You may have read that Matthew O. Clason of Cheshire, Connecticut was permanently barred by the Financial Industry Regulatory Authority (“FINRA”) from working in the securities industry because he failed to comply with FINRA Rule 8210 and 2010. In October 2016, Matthew O. Clason joined LPL Financial LLC and was registered as a General Securities Representative and Investment Company and Variable Contracts Products Representative. On September 11, 2020, the firm filed a Uniform Termination Notice for Securities Industry Registration (Form U5) indicating that Clason was terminated because he allegedly liquidated shares in a bank account he maintained and shared with a customer. According to the findings, FINRA sent a request to Clason requesting information regarding the allegations that led to his termination. FINRA stated that Clason acknowledged and ultimately refused to produce the requested documents during a counsel phone call. Although Clason is no longer registered with any FINRA member firm, he remains subject to FINRA’s jurisdiction. FINRA Rule 8210(a)(1) states, in relevant part, that FINRA may “require a person associated with a member, or any other person subject to FINRA’s jurisdiction, to provide information orally, in writing, or electronically and to testify at a location specified by FINRA staff with respect to any matter involved in [a FINRA] investigation.” FINRA Rule 8210(c) states that “no person shall fail to provide information or testimony pursuant to this Rule.” A violation of FINRA Rule 8210 is also a violation of FINRA Rule 2010. Do You Need a Connecticut FINRA Defense Attorney? Unfortunately, Matthew O. Clason might have avoided that FINRA 8210 bar from the securities industry with a skilled and experienced FINRA 8210 defense attorney. It is important, early on, to have a FINRA defense attorney advise you on how not to make matters worse and resolve the dispute with the least amount of sanctions which could range from censures to fines, suspensions, permanent bars, and/or referrals to federal or state prosecutors. You will need an experienced FINRA defense lawyer who not only has knowledge of FINRA rules and procedures, the securities laws and the appropriate sanction for the alleged misconduct but also has an excellent reputation and credibility with the FINRA attorneys to negotiate the best outcome. Free Initial Consultation With FINRA 8210 Defense Attorney Serving Financial Advisors Throughout Cheshire, Connecticut And Nationwide The Law Offices of Robert Wayne Pearce, P.A. understands what is at stake in FINRA securities law matters and works tirelessly to secure the best possible result for you and your case.  Attorney Pearce’s FINRA defense skills are highly regarded throughout Connecticut and across the nation.  For dedicated representation by an attorney with over 40 years of experience and success in all kinds of FINRA disputes serving Connecticut citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889, or via e-mail. 

Continue Reading

Hicksville, New York FINRA 8210 Defense Lawyers

Did Christ Elias Baltas Cause You Investment Losses? You may have read that Christ Elias Baltas of Hicksville, New York was permanently barred by the Financial Industry Regulatory Authority (“FINRA”) from working in the securities industry because he failed to comply with FINRA Rules 8210 and 2010. In December 2015, Christ Elias Baltas joined Worden Capital Management LLC and was registered as a General Securities Representative, General Securities Principal, and Operations Professional. According to the findings, FINRA began an investigation regarding his supervision over a representatives potential unsuitable recommendations. The findings stated that FINRA sent a request to Baltas to appear for on-the-record testimony regarding the allegations which he allegedly acknowledged, received, and refused to appear at any time. Although Christ Alias Baltas is no longer registered with any FINRA member firm, he remains subject to FINRA’s jurisdiction. FINRA Rule 8210(a)(1) states, in relevant part, that FINRA may “require a member, person associated with a member, or any other person subject to FINRA’s jurisdiction to testify at a location specified by FINRA staff with respect to any matter involved in [a FINRA] investigation” FINRA Rule 8210(c) further states that “no person shall fail to provide testimony pursuant to this Rule.” A violation of FINRA Rule 8210 is also a violation of FINRA Rule 2010, which requires member firms and their associated persons to “observe high standards of commercial honor and just and equitable principles of trade.” Do You Need a New York FINRA Defense Attorney? Unfortunately, Christ Elias Baltas might have avoided that FINRA 8210 bar from the securities industry with a skilled and experienced FINRA 8210 defense attorney. It is important, early on, to have a FINRA defense attorney advise you on how not to make matters worse and resolve the dispute with the least amount of sanctions which could range from censures to fines, suspensions, permanent bars, and/or referrals to federal or state prosecutors. You will need an experienced FINRA defense lawyer who not only has knowledge of FINRA rules and procedures, the securities laws and the appropriate sanction for the alleged misconduct but also has an excellent reputation and credibility with the FINRA attorneys to negotiate the best outcome. Free Initial Consultation With FINRA 8210 Defense Attorney Serving Financial Advisors Throughout Hicksville, New York And Nationwide The Law Offices of Robert Wayne Pearce, P.A. understands what is at stake in FINRA securities law matters and works tirelessly to secure the best possible result for you and your case.  Attorney Pearce’s FINRA defense skills are highly regarded throughout New York and across the nation.  For dedicated representation by an attorney with over 40 years of experience and success in all kinds of FINRA disputes serving New York citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889, or via e-mail. 

Continue Reading

FINRA 8210 Defense Lawyers

Darren Dietrich of Plant City Florida was sanctioned by the Financial Industry Regulatory Authority (FINRA) for failing to appear and testify at on-the-record interviews. Mr. Dietrich was under investigation by FINRA for allegedly executing unauthorized trades. FINRA alleged that Mr. Dietrich purchased nearly 3,000 shares in Terex Corp. (TEX) and Direxionshares Small Cap Bull (TNA) without his client’s knowledge or authorization. In a response to a FINRA staff request for information regarding the alleged unauthorized trading, Mr. Dietrich denied any unauthorized trades. When Mr. Dietrich was later asked to appear and testify, he failed to appear for his testimony. The date for his testimony was rescheduled two more times and again Mr. Dietrich did not appear. The failure to appear and testify is a violation of FINRA Procedural Rule 8210 and Conduct Rule 2010. Mr. Dietrich was permanently barred from association with any FINRA member for violation of these rules. No additional sanctions were imposed. Do You Need a FINRA 8210 Defense Lawyer? You may have read that Darren Dietrich of Plant City Florida was permanently barred by the FINRA from working in the securities industry because he violated FINRA Rule 8210. He could have avoided that FINRA 8210 bar from the securities industry with a skilled and experienced FINRA 8210 defense attorney. My guess is that you are reading this article because you probably just received a letter from FINRA via certified mail that states: You are notified that the FINRA office is conducting an inquiry to determine whether violations of the federal securities laws or FINRA, NASD, NYSE, or MSRB rules have occurred. In the next paragraph, you are being requested, “Pursuant to FINRA Rule 8210,” to provide a slew of documents and/or to appear at a FINRA office to give “On-the-Record” testimony and then you read the warning: Under FINRA Rule 8210, you are obligated to respond to this request fully, promptly and without qualification.  You are also obligated to supplement or correct any response that you later learned to have been incomplete or inaccurate.  If you withhold any responsive documents or information, you must specifically identify what you are withholding and state the basis for your doing so.  Any failure on your part to satisfy these obligations could expose you to sanctions, including a permanent bar from the securities industry. To a FINRA registered representative, who has never received such a letter in their career, it can be intimidating and cause a great deal of anxiety.  You are probably asking yourself: Why did I get this letter? What does it mean to my career? What should I do or not do? First, you must not ignore the letter because if you do and are currently registered and still working with a broker dealer, you will be suspended, and if you still do not comply with the request, you will be permanently barred from working in the securities industry just like Darren Dietrich, above. Second, if you are still working for a brokerage firm, you must notify the firm and provide a copy of the FINRA letter to your immediate supervisor and/or compliance officer. Third, you will need advice from an experienced FINRA defense lawyer on how to respond to the FINRA inquiry and protect you from sanctions. If your employer is not going to supply legal counsel free of any conflict of interest or you are no longer registered and working for any firm, you will need to hire your own FINRA defense attorney. This FINRA letter marks the first stage and hopefully the last of any FINRA inquiry into a particular matter. At this point, you have not been accused of any violation of the law or any securities industry rule, and there will be no black marks on your FINRA record in the Central Record Depository (“CRD”) or on the FINRA BrokerCheck website. You want to keep it that way! As your FINRA defense lawyers, we will immediately reach out to FINRA, obtain a reasonable extension of time to comply with request for documents and/or date of your On-the-Record testimony to investigate the issue, and gather and review the information requested. We will determine the trigger event and/or nature of the inquiry, such as the following: Automated Surveillance Program flagging of potential insider trading, layering, algorithm gaming, wash sales, marking-the-close and open, front running, etc. Form U4 or U5 filing disclosing: customer complaints; arrests, criminal charges and convictions; Liens, Bankruptcies, and compromises with creditors; and/or outside business activities. Customer Complaints made directly to FINRA through its Hotline. Actions by or referrals from other regulatory agencies, like the SEC or state securities regulators. The less interaction you have with the FINRA investigator, and the more interaction your FINRA defense attorney has with the investigator the less harm you will inflict upon yourself. Sometimes the list of documents requested and/or questions asked are numerous and burdensome. Unfortunately, you simply cannot refuse to comply with the FINRA 8210 request and expose yourself to sanctions for non-compliance. As your FINRA defense lawyers, we will make sure that the FINRA investigator is not over-reaching and making unreasonable requests for documents, which you will have to supply; not only documents in your possession and custody, but you will also be required to supply documents within your “control,” such as bank statements and other records and/or tax returns in the files of your bank or accountant. As your FINRA defense attorneys, we will negotiate the scope of the document production with the investigator to ensure you are not being harassed by the regulator and producing only what is necessary for them to conduct their investigation. If you are being scheduled for an On-the-Record (“OTR”) examination, FINRA’s equivalent to a deposition without any rules, we will prepare you for the examination and advise you on your limited rights and how to answer the questions truthfully to lessen the consequences of your testimony. In the end, it is our goal as your FINRA defense lawyer to end the inquiry after the OTR in...

Continue Reading