| Read Time: 3 minutes | Private Placement Investment Attorney | Private Placements |

Did Tonya Nicole Smoake Cause You Investment Losses?

Tonya Nicole Smoake of Englewood, New Jersey submitted a Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority in which she was fined $5,000 and suspended from association with any FINRA member in all capacities for a period of 12 months. The sanctions were based on findings that she participated in private securities transactions in violation of FINRA Rules 3280 and 2010. The suspension is in effect from April 5, 2021, through April 4, 2022.

In March 2017, Tonya Nicole Smoake joined Purshe Kaplan Sterling Investments while registered as a General Securities Representative. The firm later filed a Uniform Termination Notice for Securities Industry Registration (Form U5) disclosing that she had voluntarily resigned due to alleged misconduct. According to FINRA’s findings, Smoake allegedly participated in private securities transactions involving approximately $1.6 million without providing prior written notice to the firm. The findings state that Smoake distributed offering documents to the investors, gathered the signed documents, answered the investors questions, and coordinated all payments. In addition to the findings, Smoake did not receive any commissions from the sales and falsely attested her involvement in any private securities transactions on the firm’s annual compliance questionnaires . Although Tonya Nicole Smoake is not currently registered or associated with a FINRA member, she remains subject to FINRA’s jurisdiction.

Do You Need a New Jersey Private Placement Investment Attorney?

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.” FINRA Rule 3280(e) defines “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 provides that representatives of member firms “shall observe high standards of commercial honor and just and equitable principles of trade.”

Are you a New Jersey investor who has suffered significant losses in your stock brokerage and investment accounts?  Did your New Jersey stockbroker or investment advisor misrepresent or mislead you about an investment in a Private Placement or make an unsuitable recommendation that you invest in a Private Placement like GPB Capital Holdings or EquiAlt or otherwise mismanage your investment account? If so, you will need to have representation by an experienced, highly rated and nationally recognized FINRA securities arbitration law attorney—an attorney who understands these highly complex and risky Private Placement investments. You 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. 

Free Initial Consultation With Experienced Private Placement Investment Attorneys Serving Englewood, New Jersey Residents In FINRA Arbitration Proceedings

At The Law Offices of Robert Wayne Pearce, P.A.  we represent investors in all kinds of securities, commodities, and investment law disputes in FINRA, AAA and JAMS arbitration and mediation proceedings. Attorney Pearce and his staff represent investors throughout New 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.

Author Photo

Robert Wayne Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $140 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

Rate this Post

1 Star2 Stars3 Stars4 Stars5 Stars