Articles Tagged with GF Investment Services

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Richard William Lunn Martin, a former registered representative with GF Investment Services, LLC, submitted an Offer of Settlement in which he was barred by the Financial Industry Regulatory Authority’s (FINRA) due to findings that he made unsuitable ETF hold recommendations which resulted in losses to his customers of approximately $2.4 million.

Richard William Lunn Martin, of Johor, Malaysia, allegedly solicited, purchased and recommended his customers hold non-traditional ETFs in their accounts for years – an unsuitable recommendation for any customer.  Non-traditional ETFs are typically designed to achieve their objectives over the course of one trading session, i.e., one day.  In fact, FINRA Regulatory Notice 09-31 advises broker dealers and their registered representatives that non-traditional ETFs “are typically not suitable for retail investors who plan to hold them for more than one trading session, particularly in volatile markets.”  Continue reading →