Mesa, Arizona Private Placement Investment Dispute Lawyer

Did Scott Wayne Reed Cause You Investment Losses? Scott Wayne Reed of Mesa, Arizona submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was barred from association with any FINRA member in all capacities. The sanction was based on findings that he recommended and participated in private securities transactions in violation of FINRA Rules 3280 and 2010. On April 11, 2016, Scott Wayne Reed joined Wells Fargo Clearing Services, LLC while registered as a General Securities Representative, General Securities Principal and General Securities Sales Supervisor. The firm later filed a Uniform Termination Notice for Securities Industry Registration (Form U5) in April 2020, disclosing that Reed voluntarily terminated his registration from the firm due to alleged misconduct. According to FINRA’s findings, Reed participated in private securities transactions by soliciting at least six individuals to invest $3.5 million in securities issued by a software and web development company. The findings state that Reed received a selling compensation of $191,340 and allegedly failed to provide prior notice or obtain the firm’s approval to participate in the private securities transactions. Although Scott Wayne Reed is not currently registered or associated with a FINRA member, he remains subject to FINRA’s jurisdiction. FINRA Rule 3280 prohibits each associated person from “participating in any manner in a private securities transaction” without first giving his or her firm written notice that “describes in detail the proposed transaction,” the proposed role in the transaction, and “whether he has received or may receive selling compensation in connection with the transaction.” A violation of FINRA Rule 3280 is also a violation of FINRA Rule 2010, which requires associated persons to “observe high standards of commercial honor and just and equitable principles of trade.” Do You Need an Arizona Private Placement Investment Attorney? Are you an Arizona investor who has suffered significant losses in your stock brokerage and investment accounts?  Did your Arizona 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 Lawyers Serving Mesa, Arizona 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 Arizona, 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 Arizona citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

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Lafayette, Louisiana Private Placement Investment Dispute Attorney

Did Paul Andrew Schmitz Cause You Investment Losses? Paul Andrew Schmitz of Lafayette, Louisiana submitted a Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority in which he was fined $15,000 and suspended from association with any FINRA member in all capacities for one month. The sanctions were based on findings that he participated in a private securities transaction without approval in violation of FINRA Rules 3280 and 2010. The suspension was in effect from February 1, 2021, through February 28, 2021. In April 2005, Paul Andrew Schmitz joined Wells Fargo Advisors Financial Network, LLC where he was registered as a General Securities Representative and a General Securities Sales Supervisor. The firm later filed a Uniform Termination Notice (Form U5), disclosing that Schmitz had been terminated due to alleged misconduct. According to FINRA findings, Schmitz invested $70,614 to purchase interests in a private placement involving life insurance viatical settlements, which entitled himself and other investors to split the death benefits of certain, pre-selected life insurance policies. The findings state that the transaction occurred outside the scope of his employment with Wells Fargo as Schmitz did not seek approval or provide the firm with written notice. Do You Need a Louisiana Private Placement Investment Dispute Attorney? FINRA Rule 3280 prohibits an associated person from “participating in any manner in a private securities transaction,” unless, prior to participating in the transaction, the associated person provides written notice to the member with which he is associated describing in detail the proposed transaction and the person’s proposed role therein.” Under FINRA Rule 3280(e), the term “private securities transaction” means “any securities transaction outside the regular course or scope of an associated person’s employment with a member.” A violation of FINRA Rule 3280 also constitutes 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. Are you a Lafayette, Louisiana investor who has suffered significant losses in your stock brokerage and investment accounts?  Did your [State] 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 Lafayette, Louisiana 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 Louisiana, 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 Louisiana citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail. 

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