Do You Need a FINRA Defense Attorney?
You may have read that William James Novack of Monticello, Indiana 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 2018 through September 2019, William James Novack was registered with Cambridge Investment Research, Inc. as a General Securities Representative. According to the findings, FINRA sent Novack a request to appear for an on-the-record testimony regarding the termination of another Cambridge registered representative, who was believed to have been allowing a barred individual to conduct a securities business. The findings state that Novack responded to FINRA through email, stating that he allegedly received, acknowledged, and refused the request to appear for an on-the-record testimony at any time. Although William James Novack is no longer associated with any FINRA member firm, he remains subject to FINRA’s jurisdiction.
FINRA Rule 8210 states, in relevant part, that FINRA has the right to require a “person subject to FINRA’ s jurisdiction to provide information orally, in writing, or electronically with respect to any matter involved in the investigation, complaint, examination or proceeding.” FINRA Rule 8210 also specifies that “no person shall fail to provide information or testimony pursuant to this Rule.” A failure to provide information and/or testimony requested by FINRA pursuant to Rule 8210 violates Rule 8210. Conduct that violates FINRA Rule 8210 also violates FINRA Rule 2010, which requires associated persons to “observe high standards of commercial honor and just and equitable principals of trade. “
Unfortunately, William James Novack 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 Monticello, Indiana 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 Indiana 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 Indiana citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889, or via e-mail.