Did Darrell Glynn Frazier Cause You Investment Losses?
Darrell Glynn Frazier, a former broker at New York City, New York-based Park Avenue Securities LLC, submitted a Letter of Acceptance, Waiver and Consent (AWC) in which he agreed to, without admitting or denying, the described penalty and the entry of the Financial Industry Regulatory Authority’s (FINRA) findings that he made misrepresentations in connection with the sale of variable annuities. Mr. Frazier informed customers they would earn a 7% or more return by buying variable annuity products and that the principal amount invested would be guaranteed against loss. Mr. Frazier falsely assured one customer he would not be charged annual fees on his variable annuities and falsely advised another customer that he would only make money from the annuity purchase if the customer made money. FINRA’s findings also stated that some customers questioned Mr. Frazier asking why a particular annuity was not performing as expected and why the values of their annuities were decreasing. Mr. Frazier assured them that they were receiving the 7% return and that their principal was safe and always promised to look into the matter, but he never did.
Further, FINRA found that Mr. Frazier often completed or partially completed forms that the customers were required to fill out to apply for a variable annuity contract. Mr. Frazier gave incorrect information; overstating the net worth and income of customers and inaccurately characterizing their risk tolerances. Mr. Frazier often had customers sign undated, blank brokerage forms. The signed, blank forms were found in his files with correspondence clearly instructing customers to sign but not date the blank forms. Consequently, Mr. Frazier willfully violated Section 10(b) of the Securities Exchange Act of 1934, FINRA Rules 2010 and 2020, and NASD Rules 2110 and 2120. Mr. Frazier of Dublin, Ohio was prohibited from association with any FINRA member in any capacity.
Do You Need A Securities Attorney For Variable Annuities Investment Disputes?
Ohio 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 make unsuitable recommendations and misrepresent and/or mislead investors about the risks of owning variable annuities, their features including surrender fees before investing in Variable Annuities and engage in all kinds of stockbroker misconduct which violates Federal and Ohio securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures.
Experienced Lawyers With Claims by Investors Who Purchased Variable Annuities In FINRA Arbitrations Throughout Ohio and Nationwide.
Are you an Ohio investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Ohio stockbroker or investment advisor misrepresent or mislead you about a Variable Annuity investment or make an unsuitable recommendation that you invest in a Variable Annuity or otherwise mismanage your investment account? If so, you need representation by an experienced, highly-rated and nationally recognized FINRA securities arbitration lawyer — an attorney who understands these highly complex and risky Variable Annuity investments.
You will also need an experienced lawyer who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases and other complex legal issues. By hiring a top rated and highly successful attorney like Robert Wayne Pearce with over 40 years of experience with variable annuities by practicing securities law 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 attorneys to recover your Variable Annuity investment losses and all types of stockbroker misconduct in FINRA arbitration proceedings!
At The Law Offices of Robert Wayne Pearce, P.A., we represent investors in all kinds of Variable Annuities and securities law and investment disputes in FINRA arbitration and mediation proceedings. We handle a wide range of practice areas such as fraud and misrepresentation, breach of fiduciary duty, failure to supervise, and unsuitable recommendations of Index Annuities. Attorney Pearce and his staff represent investors throughout Ohio, 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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Free Initial Consultation With An Experienced Variable Annuities Investment Attorney Serving Ohio Residents In FINRA Arbitration Proceedings
The Law Offices of Robert Wayne Pearce, P.A. are highly experienced attorneys who successfully handle Variable Annuities cases and other securities law matters and 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 a lawyer with over 40 years of experience and success representing investors who were sold Variable Annuities and all kinds of securities and investments serving Ohio citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.