Fargo, North Dakota Lawyer Who Sues Stockbrokers For Selling Away (Selling Unauthorized Investments)

Did Lonna R. Dehn Ristvedt Cause You Investment Losses? Lonna Rae Dehn Ristvedt of Fargo, North Dakota was assessed a deferred fine of $5,000 and suspended from association with any FINRA member in all capacities for a period of four months. The sanctions were based on findings that she engaged in undisclosed and unapproved private securities transactions in violation of NASD Rule 3040 and FINRA Rule 2010. The suspension was in effect from October 19, 2020, through February 18, 2021. In July 2010, Lonna Rae Dehn Ristvedt joined National Planning Corporation and became registered as an Investment Company and Variable Contracts Products Representative and Principal. According to the FINRA findings, Ristvedt allegedly solicited two investors to purchase securities in Future Income Payments (FIP) worth $163,320 and promised a 7% to 8% rate of return. The findings state that Ristvedt received $5,457.66 in commission but never sought or obtained approval from his firm to participate in the private transactions. In addition to FINRA’s findings, FIP ceased business and owed $300 million in unpaid investor payments. Although Lonna Rae Dehn Ristvedt is not currently registered or associated with a FINRA member firm, she remains subject to FINRA’s jurisdiction and sanctions. NASD Rule 3040 provides that “prior to participating in any private securities transaction, an associated person shall provide written notice to the member with which he is associated describing in detail the proposed transaction and the person’s proposed role therein and stating whether he has received or may receive selling compensation in connection with the transaction….” Where, as here, the associated person will receive selling compensation, the Firm must approve the proposed activity in writing. A violation of Rule 3040 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 North Dakota FINRA Securities Arbitration Attorney? Did your North Dakota stockbroker or investment advisor recommend an investment that turned out to be an investment that was never reviewed or approved by their stockbrokerage firm employer? The stockbrokers who stoop to that level are usually insolvent or uncollectible. And so, the investor’s only recourse is against the brokerage firm employer. But stockbrokerage firms always claim ignorance of the stockbroker’s activities and deny liability for the sale of unauthorized investments which they call Selling Away as if that was an absolute defense. Not so! You will definitely need an experienced attorney who knows the securities laws and how to hold the stockbrokerage firm responsible for their employees Selling Away under legal principles of actual authority, apparent authority, estoppel and failure to supervise. If your attorney knows where to look he/she can often find Red Flags of the alleged unauthorized sales that the firm did not look for, missed, or saw and just ignored. Free Initial Consultation With Experienced Lawyers Representing Fargo, North Dakota Residents in FINRA Arbitrations 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 North Dakota, 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 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 North Dakota citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail. 

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Cumming, Georgia Lawyer Who Sues Stockbrokers For Selling Away (Selling Unauthorized Investments)

Did Lewis Nelson Lester Sr. Cause You Investment Losses? Lewis Nelson Lester Sr. of Cumming, Georgia submitted a Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority in which he was fined $5,000 and suspended from association with any FINRA member in all capacities for one year. The sanctions were based on findings that Lester allegedly participated in private securities transactions without notice or approval from his firm in violation of FINRA Rules 3280 and 2010. In August 2017, Lewis Nelson Lester Sr. joined Olden Lane Securities, LLC and became registered as a General Securities Representative and General Securities Principal. According to the FINRA findings, Lester participated in two private securities transactions facilitating additional sales of ownership units in an LLC. The findings state that Lester allegedly signed two addendums to an investor’s original subscription agreement to which they made a $1,500,000 investment and received additional ownership units in the LLC. Additionally, the findings state that although Lester disclosed his role as CEO of the LLC, the transactions were outside the regular course and scope of Olden Lane because he failed to provide prior written notice of these transactions. Although Lewis Nelson Lester Sr. is not currently registered or associated with a FINRA member firm, he remains subject to FINRA’s jurisdiction and its sanctions. FINRA Rule 3280 requires that prior to participating in a private securities transaction, a  person associated with a member firm shall provide written notice to his or her firm “describing in detail the proposed transaction and the person’s proposed role therein[.]” FINRA Rule 3280 defines a private securities transaction as “any securities transaction outside the regular course or scope of an associated person’s employment with a member[.]” A violation of FINRA Rule 3280 is also a violation of FINRA Rule 2010, which requires FINRA members and associated persons to “observe high standards of commercial honor and just and equitable principles of trade.” Do You Need a Georgia FINRA Securities Arbitration Attorney? Did your Cumming, Georgia stockbroker or investment advisor recommend an investment that turned out to be an investment that was never reviewed or approved by their stockbrokerage firm employer? The stockbrokers who stoop to that level are usually insolvent or uncollectible. And so, the investor’s only recourse is against the brokerage firm employer. But stockbrokerage firms always claim ignorance of the stockbroker’s activities and deny liability for the sale of unauthorized investments which they call Selling Away as if that was an absolute defense. Not so! You will definitely need an experienced attorney who knows the securities laws and how to hold the stockbrokerage firm responsible for their employees Selling Away under legal principles of actual authority, apparent authority, estoppel and failure to supervise. If your attorney knows where to look he/she can often find Red Flags of the alleged unauthorized sales that the firm did not look for, missed, or saw and just ignored. Free Initial Consultation With  Experienced Lawyers Representing Cumming, Georgia Residents in FINRA Arbitrations 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 Georgia, 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 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 Georgia citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

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Orlando, Florida Attorney Who Sues Stockbrokers For Selling Away (Selling Unauthorized Investments)

Did Dwight L. Dykstra Cause You Investment Losses? Dwight L. Dykstra of Orlando, Florida was fined $5,000 and suspended from association with any FINRA member for a period of one year and ordered to pay disgorgement in the amount of $67,500. The sanctions were based on findings that he participated in private securities transactions without notice or approval from his firm in violation of FINRA Rules 3280 and 2010. The suspension is in effect from October 19, 2020, through October 18, 2021. In May 2013, Dwight L. Dykstra joined Vision Brokerage and became registered as a General Securities Representative and an Investment Company and Variable Contracts Products Representative and Principal. According to the FINRA findings, Dykstra solicited 21 investors to purchase promissory notes issued by a limited liability company worth $2 million. The findings state that Dykstra personally invested an additional $100,000 and received $67,500 for the sales of the notes. In addition, Dykstra allegedly failed to seek approval or provide any prior notice to his firm of the promissory notes transactions or of his role in those transactions. FINRA Rule 3280 requires that prior to participating in a private securities transaction, a person associated with a member firm shall provide written notice to his or her firm “describing in detail the proposed transaction and the person’s proposed role therein[.]” FINRA Rule 3280 defines a private securities transaction as “any securities transaction outside the regular course or scope of an associated person’s employment with a member[1” A violation of FINRA Rule 3280 is also a violation of FINRA Rule 2010, which requires FINRA members and associated persons to “observe high standards of commercial honor and just and equitable principles of trade.” Do You Need a Florida FINRA Securities Arbitration Attorney? Did your Florida stockbroker or investment advisor recommend an investment that turned out to be an investment that was never reviewed or approved by their stockbrokerage firm employer? The stockbrokers who stoop to that level are usually insolvent or uncollectible. And so, the investor’s only recourse is against the brokerage firm employer. But stockbrokerage firms always claim ignorance of the stockbroker’s activities and deny liability for the sale of unauthorized investments which they call Selling Away as if that was an absolute defense. Not so! You will definitely need an experienced attorney who knows the securities laws and how to hold the stockbrokerage firm responsible for their employees Selling Away under legal principles of actual authority, apparent authority, estoppel and failure to supervise. If your attorney knows where to look he/she can often find Red Flags of the alleged unauthorized sales that the firm did not look for, missed, or saw and just ignored. Free Initial Consultation With Experienced Attorneys Representing Orlando, Florida Residents in FINRA Arbitrations 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 Florida, 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 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 Florida citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail. 

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Laguna Beach, California Lawyer Who Sues Stockbrokers For Selling Away (Selling Unauthorized Investments)

Did David Allen Walters Cause You Investment Losses? David Allen Walters of Laguna Beach, California submitted a Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority in which he was assessed a fine of $5,000 and suspended from association with any FINRA member in all capacities for a period of four months. The sanctions were based on findings that he allegedly participated in private securities transactions in violation of FINRA Rules 3280 and 2010. The suspension is in effect from November 2, 2020, through March 1, 2021. In June 2017, David Allen Walters joined Advisory Group Equity Services under multiple registrations. The firm later filed a Uniform Termination Notice (Form U5) disclosing that Walters had been discharged due to alleged misconduct. According to the FINRA findings, Walters allegedly participated in four private securities transactions worth $450,000 without providing prior notice to his firm. The findings state that Walters served as executive chairman for the company that was invested in and although he disclosed the outside business activity to his firm, he stated that the source of its capital would be from personal assets rather than from the investors. In addition, while David Allen Walters did not receive any compensation, he remains subject to FINRA’s jurisdiction and sanctions. FINRA Rule 3280 requires that prior to “participating in any manner” in a private securities transaction, a person associated with a member firm shall provide written notice to his or her firm “describing in detail the proposed transaction and the person’s proposed role therein.” FINRA Rule 3280 defines a private securities transaction as “any securities transaction outside the regular course or scope of an associated person’s employment with a member.” A violation of FINRA Rule 3280 is also a violation of FINRA Rule 2010, which requires FINRA members and associated persons to “observe high standards of commercial honor and just and equitable principles of trade.” Do You Need a California FINRA Securities Arbitration Attorney? Did your California stockbroker or investment advisor recommend an investment that turned out to be an investment that was never reviewed or approved by their stockbrokerage firm employer? The stockbrokers who stoop to that level are usually insolvent or uncollectible. And so, the investor’s only recourse is against the brokerage firm employer. But stockbrokerage firms always claim ignorance of the stockbroker’s activities and deny liability for the sale of unauthorized investments which they call Selling Away as if that was an absolute defense. Not so! You will definitely need an experienced attorney who knows the securities laws and how to hold the stockbrokerage firm responsible for their employees Selling Away under legal principles of actual authority, apparent authority, estoppel and failure to supervise. If your attorney knows where to look he/she can often find Red Flags of the alleged unauthorized sales that the firm did not look for, missed, or saw and just ignored. Free Initial Consultation With  Experienced Attorneys Representing Laguna Beach, California Residents in FINRA Arbitrations 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 California, 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 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 California citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail. 

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Summit, New Jersey Lawyer Who Sues Stockbrokers For Selling Away (Selling Unauthorized Investments)

Did Andrew Joseph LeBlanc Cause You Investment Losses? Andrew Joseph LeBlanc II of Summit, New Jersey was fined $20,000 and suspended from association with any FINRA member for a period of six months. The sanctions were based on findings that he participated in private securities transactions without notice or approval from his firm in violation of NASD Rule 3040 and FINRA Rule 2010. The suspension is in effect from November 16, 2020, through May 15, 2021.  In 1995, Andrew Joseph LeBlanc II joined Merrill Lynch, Pierce, Fenner & Smith, Inc. and became registered as a General Securities Representative. The firm later filed a Uniform Termination Notice (Form U5) disclosing that LeBlanc had been terminated due to alleged misconduct. According to the FINRA findings, LeBlanc allegedly participated in two private transactions totaling $1.75 million without notifying his firm. The findings state that LeBlanc did not receive compensation for participating in the transactions and the customers are unlikely to receive any return. In addition, LeBlanc allegedly failed to report the private transactions on his firm’s annual compliance questionnaires. NASD Rule 3040 prohibits any person associated with a member from “participating in any manner in a private securities transaction” without first providing written notice to his member firm.1 NASD Rule 3040(e) defines a private securities transaction as any securities transaction outside of the regular course or scope of an associated person’s employment with a member. Participation in a private securities transaction includes not only making the sale, but also, for example, “referring customers, introducing customers to the issuer, [and] arranging and/or participating in meetings between customers and the issuer.”2 A violation of NASD Rule 3040 is also a violation of FINRA Rule 2010. Do You Need a New Jersey FINRA Securities Arbitration Attorney? Did your New Jersey stockbroker or investment advisor recommend an investment that turned out to be an investment that was never reviewed or approved by their stockbrokerage firm employer? The stockbrokers who stoop to that level are usually insolvent or uncollectible. And so, the investor’s only recourse is against the brokerage firm employer. But stockbrokerage firms always claim ignorance of the stockbroker’s activities and deny liability for the sale of unauthorized investments which they call Selling Away as if that was an absolute defense. Not so! You will definitely need an experienced attorney who knows the securities laws and how to hold the stockbrokerage firm responsible for their employees Selling Away under legal principles of actual authority, apparent authority, estoppel and failure to supervise. If your attorney knows where to look he/she can often find Red Flags of the alleged unauthorized sales that the firm did not look for, missed, or saw and just ignored. Free Initial Consultation With  Experienced Selling Away Lawyers Representing Summit, New Jersey Residents in FINRA Arbitrations 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 Jersey, 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 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 Jersey citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail. 

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Omaha, Nebraska Lawyer Who Sues Stockbrokers For Selling Away (Selling Unauthorized Investments)

Did Troy Robert Baily Cause You Investment Losses? Troy Robert Baily of Omaha, Nebraska submitted a Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority in which he was fined $5,000 and suspended from association with any FINRA member in all capacities for a period of six months. The sanctions were based on findings that he engaged in undisclosed and unapproved private securities transactions in violation of FINRA Rules 3280 and 2010. The suspension is in effect from October 19, 2020, through April 18, 2021. In November 2016, Troy Robert Baily joined SagePoint Financial, Inc. and was registered as an Investment Company and Variable Contracts Products Representative (“IR”). The firm later filed a Uniform Termination Notice (Form U5) disclosing that Baily had been terminated due to alleged misconduct. According to FINRA’s findings, Bailey allegedly solicited four investors to purchase securities in Future Income Payments, LLC (FIP) in the amount of $408,000 and promised a 7% to 8% rate of return. The findings state that Bailey received $8,900 in commission and never sought or obtained approval from his firm to participate in the private transactions. In addition to FINRA’s findings, FIP ceased business and owed $300 million in unpaid investor payments. Although Baily is not currently registered or associated with a FINRA member, he remains subject to FINRA’s jurisdiction. FINRA Rule 3280(e) generally defines a private securities transaction as any securities transaction outside the regular scope of an associated person’s employment with a member. FINRA Rule 3280(b) states that “prior to participating in any private securities transaction, an associated person shall provide written notice to the member with which he is associated describing in detail the proposed transaction and the person’s proposed role therein and stating whether he has received or may receive selling compensation in connection with the transaction.” Rule 3280(c) states that when an associated person has received or may receive selling compensation, the member firm shall provide written approval or disapproval of the associated person’s participation in the proposed private securities transaction. A violation of Rule 3280 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 Nebraska Attorney for an Unauthorized Investment? Did your Nebraska stockbroker or investment advisor recommend an investment that turned out to be an investment that was never reviewed or approved by their stockbrokerage firm employer? The stockbrokers who stoop to that level are usually insolvent or uncollectible. And so, the investor’s only recourse is against the brokerage firm employer. But stockbrokerage firms always claim ignorance of the stockbroker’s activities and deny liability for the sale of unauthorized investments which they call Selling Away as if that was an absolute defense. Not so! You will definitely need an experienced attorney who knows the securities laws and how to hold the stockbrokerage firm responsible for their employees Selling Away under legal principles of actual authority, apparent authority, estoppel and failure to supervise. If your attorney knows where to look he/she can often find Red Flags of the alleged unauthorized sales that the firm did not look for, missed, or saw and just ignored. Free Initial Consultation With  Experienced Ponzi Scheme Lawyers Representing Omaha, Nebraska Residents in FINRA Arbitrations 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 Nebraska, 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 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 Nebraska citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

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Midlothian, Virginia Attorney Who Sues Stockbrokers For Selling Away (Selling Unauthorized Investments)

Did Neemit Mukesh Shah Cause You Investment Losses? Neemit Mukesh Shah of Midlothian, Virginia was assessed a deferred fine of $5,000 and suspended from association with any FINRA member in all capacities for a period of six months. The sanctions were based on findings that he engaged in undisclosed and unapproved private transactions in violation of FINRA Rules 3280 and 2010. The suspension is in effect from October 19, 2020, through April 18, 2021.  From January 2009 through November 2016, Neemit Mukesh was registered with NYLife Securities LLC as a General Securities Representative. According to FINRA’s findings, Shah had allegedly solicited investors to purchase securities in Future Income Payments, LLC (FIP) in the amount of $408,000 and promised a 7% to 8% rate of return. The findings state that Shah received $8,160 in commissions and never gave notice or received approval from his firm to participate in the private transactions. In addition to FINRA’s findings, FIP ceased business and owed $300 million in unpaid investor payments. Although Shah is not currently registered or associated with a FINRA member, he remains subject to FINRA’s jurisdiction. FINRA Rule 3280(e) generally defines a private securities transaction as any securities transaction outside the regular scope of an associated person’s employment with a member. FINRA Rule 3280(b) states that “prior to participating in any private securities transaction, an associated person shall provide written notice to the member with which he is associated describing in detail the proposed transaction and the person’s proposed role therein and stating whether he has received or may receive selling compensation in connection with the transaction.” Rule 3280(c) states that when an associated person has received or may receive selling compensation, the member firm shall provide written approval or disapproval of the associated person’s participation in the proposed private securities transaction. A violation of Rule 3280 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 Virginia FINRA Securities Arbitration Attorney? Did your Virginia stockbroker or investment advisor recommend an investment that turned out to be an investment that was never reviewed or approved by their stockbrokerage firm employer? The stockbrokers who stoop to that level are usually insolvent or uncollectible. And so, the investor’s only recourse is against the brokerage firm employer. But stockbrokerage firms always claim ignorance of the stockbroker’s activities and deny liability for the sale of unauthorized investments which they call Selling Away as if that was an absolute defense. Not so! You will definitely need an experienced attorney who knows the securities laws and how to hold the stockbrokerage firm responsible for their employees Selling Away under legal principles of actual authority, apparent authority, estoppel and failure to supervise. If your attorney knows where to look he/she can often find Red Flags of the alleged unauthorized sales that the firm did not look for, missed, or saw and just ignored. Free Initial Consultation With  Experienced Ponzi Scheme Attorneys Representing Midlothian, Virginia Residents in FINRA Arbitrations 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 Virginia, 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 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 Virginia citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail. 

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Bayview, Texas Securities Arbitration Attorney Who Sues Stockbrokers For Selling Away (Selling Unauthorized Investments)

Did Marylin T. Myers Cause You Investment Losses? Marylin T. Myers, a former Bayview, Texas-based registered principal employed by Lincoln, Nebraska-based Allstate Financial Services, LLC, submitted a Letter of Acceptance, Waiver and Consent (AWC) in which she agreed to, without admitting or denying, the entry of the Financial Industry Regulatory Authority’s (FINRA) findings that she engaged in the sale of a privately held company’s promissory notes to investors without informing her firm or obtaining the firm’s written consent.  According to FINRA, Ms. Myers made recommendations that investors who were not the firm’s customers, invest in On The Edge Marketing LLC notes.  Ms. Myers facilitated their purchases and invested $16,000 of her own money in the notes.  Together, the investors and Ms. Myers invested more than $1,000,000 in the notes.  Currently, On The Edge Marketing failed to repay the principal and interest due to the investors and Ms. Myers.  FINRA also determined that on the firm’s annual compliance questionnaires, Ms. Myers falsely stated that she had not engaged in any private securities transactions and also falsely stated that she had not engaged in soliciting, referring, or recommending any private placements or private securities products.  Ms. Myers was fined $20,000 and suspended from associating with any FINRA member in any capacity for two years.  Do You Need an Attorney for an Unauthorized Investment? Texas has thousands of stock brokerage firms and investment advisory offices.  With so many stock brokerage firms and investment advisor offices, comes the potential for their stockbrokers, financial advisors, and other representatives to recommend investments that were never reviewed nor authorized by their employers and engage in many other types of misconduct which violates Federal and Texas securities laws, Financial Industry Regulatory Authority (FINRA) rules as well as stock brokerage firms policies and procedures.  Experienced Securities Lawyers Who Represent Investors Sold Unauthorized Investments (Selling Away) In FINRA Arbitrations Throughout Texas and Nationwide. Did your Texas stockbroker or investment advisor recommend an investment that turned out to be an investment never reviewed or approved by their stockbrokerage firm employer. The stockbrokers who stoop to that level are usually insolvent or uncollectible. And so, the investor’s only recourse is against the brokerage firm employer. But stockbrokerage firms always claim ignorance of the stockbroker’s activities and deny liability for the sale of unauthorized investments which they call Selling Away as if that was an absolute defense. Not so! You will definitely need an experienced attorney who knows the securities laws and how to hold the stockbrokerage firm responsible for their employees Selling Away under legal principles of actual authority, apparent authority, estoppel and failure to supervise. If your attorney knows where to look he/she can often find Red Flags of the alleged unauthorized sales that the firm did not look for, missed or saw and just ignored. You also need a lawyer knowledgeable of FINRA rules and procedures to handle these FINRA arbitration Selling Away cases involving complex legal issues.  By hiring a top rated attorney like Robert Wayne Pearce with over 40 years of experience practicing securities law on both sides of the table in FINRA arbitration proceedings, you will clearly see that Attorney Pearce aggressively represents investors and is one of the best attorneys to help you recover your unauthorized investment losses from stockbrokers, investment advisors and their employers in FINRA arbitration proceedings! At The Law Offices of Robert Wayne Pearce, P.A., we represent investors in not just Selling Away cases but all kinds of securities law and investment disputes in FINRA arbitration and mediation proceedings. We handle a wide range of practice areas such asstockbrokerfraud and securities misrepresentation, breach of fiduciary duty, failure to supervise, and unsuitable recommendations.  Attorney Pearce and his staff represent investors throughout Texas, 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 Selling Away Attorney Representing Texas Residents in FINRA Arbitrations The Law Offices of Robert Wayne Pearce, P.A.  are highly experienced attorneys who successfully handle Selling Away and other securities investment cases in FINRA arbitration proceedings, and who work tirelessly to secure the best possible result for you and your case.  For dedicated representation by a lawyer with over 40 years of experience and success in all kinds of securities law and investment disputes in FINRA arbitrations serving Texas citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail. 

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Los Angeles, California Attorney Who Sues Stockbrokers For Selling Away (Selling Unauthorized Investments)

Did John Rosas Jaramillo Cause You Investment Losses? John Rosas Jaramillo of Los Angeles, California was fined $5,000, suspended for a period of five months, and ordered to pay $3,770.83 in deferred disgorgement of commissions received. The sanctions were based on findings that he allegedly participated in unapproved private securities transactions in violation of FINRA Rules 3280 and 2010. Without admitting or denying the alleged misconduct, John Rosas Jaramillo consented to the sanctions. The suspension is in effect from September 8, 2020, through February 7, 2021. In June 2008, John Rosas Jaramillo joined Western International Securities, Inc. and was registered as a General Securities Representative and Investment Company and Variable Contracts Products Representative. The firm later filed a Uniform Termination Notice (Form U5) in March 2020, disclosing that Jaramillo had been discharged due to misconduct. According to the FINRA findings, Jaramillo allegedly solicited and sold $250,000 in Woodbridge promissory notes to three investors without receiving approval from his firm. The findings also stated that Jaramillo received $8,770.83 in commissions from the transactions and had allegedly failed to disclose the fund by falsely attesting on annual compliance questionnaires as to whether he participated in private security transactions. Although John Rosas Jaramillo is no longer associated with a FINRA member, he remains subject to FINRA’s jurisdiction. FINRA Rule 3280(b) states, in relevant part, that “prior to participating in any private securities transaction, an associated person shall provide written notice to the member with which he is associated describing in detail the proposed transaction and the person’s proposed role therein and stating whether he has received or may receive selling compensation in connection with the transaction.” FINRA Rule 3280(e) defines generally a private securities transaction as any securities transaction outside the regular course or scope of an associated person’s employment with a member. FINRA Rule 2010 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 California FINRA Securities Arbitration Attorney? Did your Los Angeles, California stockbroker or investment advisor recommend an investment that turned out to be an investment that was never reviewed or approved by their stockbrokerage firm employer? The stockbrokers who stoop to that level are usually insolvent or uncollectible. And so, the investor’s only recourse is against the brokerage firm employer. But stockbrokerage firms always claim ignorance of the stockbroker’s activities and deny liability for the sale of unauthorized investments which they call Selling Away as if that was an absolute defense. Not so! You will definitely need an experienced attorney who knows the securities laws and how to hold the stockbrokerage firm responsible for their employees Selling Away under legal principles of actual authority, apparent authority, estoppel and failure to supervise. If your attorney knows where to look he/she can often find Red Flags of the alleged unauthorized sales that the firm did not look for, missed, or saw and just ignored. Free Initial Consultation With  Experienced Ponzi Scheme Attorneys Representing Los Angeles, California Residents in FINRA Arbitrations 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 California, 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 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 California citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail. 

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Irvine, California Lawyer Who Sues Stockbrokers For Selling Away (Selling Unauthorized Investments)

Did  Tony A. Kassaei Cause You Investment Losses? Tony A. Kassaei of Irvine, California submitted a Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority in which he was barred from association with any FINRA member in all capacities. The sanction was based on findings that he participated in undisclosed and unapproved private securities transactions and failing to comply with requests from FINRA in violation of  NASD Rule 3040 and FINRA Rules 8210 and 2010. In 2009, Tony A. Kassaei joined J.P. Turner & Company LLC and was registered as a General Securities Principal and General Securities Representative. The firm later filed a Uniform Termination Notice (Form U5) due to misconduct. According to the FINRA findings,  Kassaei participated in at least 11 investors’ securities transactions without his firms approval, totaling at least $2.6 million. The findings stated that the investors lost a total of $1.3 million while Kassaei was compensated for soliciting and facilitating these private securities transactions. In addition to the findings, FINRA began an investigation regarding Kassaei’s  involvement in the transactions and sent a request for information and an on-the-record testimony, which he initially appeared for but refused to answer or reappear for further questioning. Although Kassaei is no longer registered or associated with a FINRA member firm, he remains subject to FINRA’s jurisdiction. NASD Rule 3040 prohibits associated persons from participating “in any manner” in private securities transactions outside the regular course or scope of their employment unless they first provide written notice to the member firm with which they are associated. The written notice must describe in detail the proposed transaction, the person’s proposed role in the transaction, and whether the person has received or may receive selling compensation in connection with the transaction. Associated persons who violate NASD Rule 3040 also violate FINRA Rule 2010, which requires associated persons to observe high standards of commercial honor and just and equitable principles of trade. FINRA Rule 8210(a)(1) 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 orally, in writing, or electronically and to testify at a location specified by FINRA staff, with respect to any matter involved in the investigation[.]” FINRA Rule 8210(c) provides that “[n]o member or person shall fail to provide information or testimony or to permit an inspection and copying of books, records, or accounts pursuant to this Rule.” Do you need a California FINRA Securities Arbitration Attorney? Did your California stockbroker or investment advisor recommend an investment that turned out to be an investment that was never reviewed or approved by their stockbrokerage firm employer? The stockbrokers who stoop to that level are usually insolvent or uncollectible. And so, the investor’s only recourse is against the brokerage firm employer. But stockbrokerage firms always claim ignorance of the stockbroker’s activities and deny liability for the sale of unauthorized investments which they call Selling Away as if that was an absolute defense. Not so! You will definitely need an experienced attorney who knows the securities laws and how to hold the stockbrokerage firm responsible for their employees Selling Away under legal principles of actual authority, apparent authority, estoppel and failure to supervise. If your attorney knows where to look he/she can often find Red Flags of the alleged unauthorized sales that the firm did not look for, missed, or saw and just ignored. Free Initial Consultation With  Experienced Ponzi Scheme Lawyers Representing Irvine, California Residents in FINRA Arbitrations 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 California, 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 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 California citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

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