May 28, 2021

Los Angeles, California FINRA 8210 Defense Lawyer

Do You Need a FINRA 8210 Defense Attorney? You may have read that Ryan Raskin of Los Angeles, California was permanently barred by the Financial Industry Regulatory Authority (“FINRA”) from working in the securities industry because he failed to comply with FINRA Rules 8210 and 2010. In May 2016, Ryan Raskin joined Merrill, Lynch, Pierce, Fenner & Smith Inc. while registered as a General Securities Representative and a General Securities Sales Supervisor. The firm later filed a Uniform Termination Notice (Form U5), disclosing that Raskin had been terminated due to alleged misconduct. According to the findings, FINRA sent a request to Raskin for information and documents in connection with their investigation regarding his involvement in inconsistent business practices and inappropriate recommendations. The findings state that Raskin responded to FINRA through email on two separate occasions, stating that he allegedly received, acknowledged, and refused to provide the requested information. Although Ryan Raskin is no longer associated with any FINRA member firm, he remains subject to FINRA’s jurisdiction. FINRA Rule 8210(a)(1) states, in relevant part, that FINRA staff shall have the right to “require a member, person associated with a member, or any other 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.” A failure to comply with a request for documents and information issued pursuant to FINRA Rule 8210 is a violation of FINRA Rule 2010, which requires associated persons to “observe high standards of commercial honor and just and equitable principles of trade.” Unfortunately, Ryan Raskin 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 Los Angeles, California 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 California 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 California citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889, or via e-mail. 

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Feb 3, 2021

Los Angeles, California Attorney Who Sues Stockbrokers For Selling Away (Selling Unauthorized Investments)

Did John Rosas Jaramillo Cause You Investment Losses? John Rosas Jaramillo of Los Angeles, California was fined $5,000, suspended for a period of five months, and ordered to pay $3,770.83 in deferred disgorgement of commissions received. The sanctions were based on findings that he allegedly participated in unapproved private securities transactions in violation of FINRA Rules 3280 and 2010. Without admitting or denying the alleged misconduct, John Rosas Jaramillo consented to the sanctions. The suspension is in effect from September 8, 2020, through February 7, 2021. In June 2008, John Rosas Jaramillo joined Western International Securities, Inc. and was registered as a General Securities Representative and Investment Company and Variable Contracts Products Representative. The firm later filed a Uniform Termination Notice (Form U5) in March 2020, disclosing that Jaramillo had been discharged due to misconduct. According to the FINRA findings, Jaramillo allegedly solicited and sold $250,000 in Woodbridge promissory notes to three investors without receiving approval from his firm. The findings also stated that Jaramillo received $8,770.83 in commissions from the transactions and had allegedly failed to disclose the fund by falsely attesting on annual compliance questionnaires as to whether he participated in private security transactions. Although John Rosas Jaramillo is no longer associated with a FINRA member, he remains subject to FINRA’s jurisdiction. FINRA Rule 3280(b) states, in relevant part, 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 generally a private securities transaction as any securities transaction outside the regular course or scope of an associated person’s employment with a member. FINRA Rule 2010 requires associated persons, in the conduct of their business, to observe high standards of commercial honor and just and equitable principles of trade. Do you need a California FINRA Securities Arbitration Attorney? Did your Los Angeles, California stockbroker or investment advisor recommend an investment that turned out to be an investment that was never reviewed or approved by their stockbrokerage firm employer? The stockbrokers who stoop to that level are usually insolvent or uncollectible. And so, the investor’s only recourse is against the brokerage firm employer. But stockbrokerage firms always claim ignorance of the stockbroker’s activities and deny liability for the sale of unauthorized investments which they call Selling Away as if that was an absolute defense. Not so! You will definitely need an experienced attorney who knows the securities laws and how to hold the stockbrokerage firm responsible for their employees Selling Away under legal principles of actual authority, apparent authority, estoppel and failure to supervise. If your attorney knows where to look he/she can often find Red Flags of the alleged unauthorized sales that the firm did not look for, missed, or saw and just ignored. Free Initial Consultation With  Experienced Ponzi Scheme Attorneys Representing Los Angeles, California Residents in FINRA Arbitrations 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 California, 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 California citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail. 

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