Woodmere, New York Private Placement Investment Dispute Attorney

Did Dalmore Group LLC Cause You Investment Losses? Dalmore Group LLC of Woodmere, New York submitted Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority in which they were censured and fined $40,000. The sanctions were based on findings that the firm failed to establish and maintain a supervisory system, including written supervisory procedures, and failed to submit required offering documents to FINRA in violation of FINRA Rules 3110, 5123, and 2010. Since November 2005, Dalmore Group LLC (Dalmore) has been registered with FINRA and has approximately 40 registered representatives in their three branches. According to FINRA’s findings, from April 2017 through February 2019, Dalmore failed to conduct and document investigations regarding two private placements by relying almost exclusively on the issuers, before they allowed them to be recommended and sold. The findings state that as a result of the misconduct, the firm failed to uncover relevant information on the issuer of the private placements. In addition, FINRA findings state that Dalmore failed to file offering documents for 26 private placements within the allowed 15 calendar days and instead made its filings from 16 days to 335 days after the date of the first sale. FINRA Rule 3110(a) requires that FINRA members “establish and maintain a system to supervise the activities of each associated person that is reasonably designed to achieve compliance with applicable securities laws and regulations, and with applicable FINRA rules.” FINRA Rule 3110(b) requires that each FINRA member “establish, maintain, and enforce written procedures to supervise the types of business in which it engages and the activities of its associated persons that are reasonably designed to achieve compliance with the applicable securities laws and regulations, and with applicable FINRA Rules.” A violation of FINRA Rule 3110 also constitutes a violation of FINRA Rule 2010, which requires member firms to “observe high standards of commercial honor and just and equitable principles of trade.” A broker-dealer has a duty to conduct a reasonable investigation concerning any private placement offering that it recommends and sells to its customers. FINRA Regulatory Notice 10-22 explains that the amount and nature of the investigation turns on various factors, including, but not limited to, “the nature of the recommendation, the role of the broker in the transaction, its knowledge and relationship to the issuer, and the size and stability of the issuer.” Regulatory Notice 10-22 further reminds firms that they must have supervisory procedures that are reasonably designed to ensure, among other things, that the firm’s personnel investigate each private placement the firm recommends and that they do so in a manner that is sufficiently rigorous to comply with all legal and regulatory requirements. FINRA Rule 5123 requires that a member that sells a security in a non-public offering in reliance on an available exemption from registration under the Securities Act of 1933 must: (i) submit to FINRA, or have submitted on its behalf, a copy of any private placement memorandum, term sheet or other offering document, used in connection with such sale within 15 calendar days of the date of first sale, or (ii) notify FINRA that no such offering documents were used. Rule 5123 was implemented to “enhance oversight and investor protection” and provide “more timely and complete information about the private placement activities of firms on behalf of other issuers. Do You Need a New York Attorney for a Private Placement Investment Dispute? Are you a Woodmere, New York investor who has suffered significant losses in your stock brokerage and investment accounts?  Did your New York 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 Woodmere, New York 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 York, 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 York citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

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Staten Island, New York Stockbroker Fraud Attorney

Did Allan Katz Cause You Investment Losses? Allan Katz of Staten Island, New York submitted a Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority in which he was fined $5,000 and suspended from association with any FINRA member in all capacities for a period of 20 days. The sanctions were based on findings that he allegedly falsified documents in violation of FINRA Rule 2010. The suspension was in effect from April 19, 2021, through May 14, 2021. In April 2008, Allan Katz joined with Royal Alliance Associates, Inc as a General Securities Representative, General Securities Principal, and a Municipal Securities Principal. The firm later filed a Uniform Termination Notice for Securities Industry Registration (Form U5) disclosing that he had been terminated due to alleged misconduct. According to FINRA’s findings, Katz recommended that a customer move directly held mutual funds into two management investment accounts and the customer agreed by signing two transfer forms to transfer two retirement and nine non-retirement mutual funds. The findings state that when asked to submit  separate transfer forms for each mutual fund, Katz reused the original account signature 11 times to expedite the transactions. Allan Katz is currently registered with another member firm and remains subject to FINRA’s jurisdiction. FINRA Rule 2010 requires associated persons to observe “high standards of commercial honor and just and equitable principles of trade” in the conduct of their business. “Falsifying documents is a prime example of misconduct” that violates Rule 2010. In particular, affixing customer signatures or otherwise altering account transfer forms violates FINRA Rule 2010 Do You Need a New York Stockbroker Fraud Attorney? Are you a Staten Island, New York investor who has suffered significant losses your stock brokerage and investment accounts?  Did your New York stockbroker or investment advisor, misrepresent facts about the securities, investments, or strategies they were recommending or otherwise mismanage your investment account? If so, you need representation by an experienced, highly-rated and nationally recognized FINRA arbitration attorney — an attorney who knows FINRA rules and procedures and how to handle these FINRA arbitration cases as well as other complex legal issues.  Free Initial Consultation With Experienced Securities Misrepresentation and Stockbroker Fraud Attorneys Serving Staten Island, New York Residents in FINRA Securities 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 New York, 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 York citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

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West Hempstead, New York Lawyer Who Sues Stockbrokers For Unsuitable Investment Recommendations

Did Edmund Zack Cause You Investment Losses? Edmund Zack of West Hempstead, New York submitted a Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority in which he was fined $10,000, suspended from association with any FINRA member in all capacities for a period of eight months and ordered to pay $5,161 plus interest in deferred disgorgement of commissions received. The sanctions were based on findings that he allegedly made unsuitable recommendations, engaged in discretionary, excessive and quantitively unsuitable trading and caused his firm to maintain inaccurate books and records in violation of NASD Rule 2510(b), FINRA Rules 4511, 2111 and 2010. The suspension is in effect from April 5, 2021, through December 4, 2021. From June 2012 through October 2017, Edmund Zack was registered with Aegis Capital Corp. as a General Securities Representative. According to FINRA’s findings, Zack allegedly recommended that a customer trade in speculative, low-priced securities and increase his trading capacity, without having a reasonable basis to believe that the recommendation was in fact suitable considering the customers investment profile and limited investment experience. The findings state that the customer paid a total of $10,44 in commissions and suffered a loss of $11,357. The findings further state that Zack allegedly exercised discretionary trading in 27 customers accounts without authorization from both the customers and his firm and caused his firm to maintain inaccurate books and records by marking order tickets as solicited, when in fact they were not. Although Edmund Zack is not currently registered or associated with a FINRA member, he remains subject to FINRA’s jurisdiction. FINRA Rule 2111 requires, among other things, a registered representative to have a  reasonable basis to believe that a recommended transaction or investment strategy is  suitable for a customer based on that customer’s specific investment profile. When  evaluating suitability, FINRA Rule 2111 requires a registered representative to consider, among other things, the customer’s investment objectives, risk tolerance, financial situation, and investment experience. FINRA Rule 4511 requires member firms to make and preserve books and records in conformity with Section 17(a) of the Exchange Act and Exchange Act Rule 17a-3. Rule 17a-3 requires firms to make and keep accurate records of, among other things, instructions for the purchase or sale of a security. A registered representative who enters inaccurate information on an order ticket causes his member firm to maintain inaccurate books and records in violation of Exchange Act § 17(a) and Exchange Act Rule 17a-3, and violates FINRA Rule 4511. NASD Rule 2510(b) prohibits registered representatives from exercising discretionary authority in a customer’s account unless the customer has given prior written authorization to the representative and the account has been accepted in writing by the representative’s member firm as a discretionary account. A violation of NASD Rule 2510(b) is also a violation of FINRA Rule 2010. Do You Need a New York FINRA Securities Arbitration Attorney? Are you a New York investor who has suffered significant losses in your stock brokerage and investment accounts?  Did they recommend unsuitable securities transactions or strategies? Suitability claims can be based upon the stockbroker or investment advisor’s fiduciary duty, duty to use reasonable care, or FINRA Rule 2111. If you believe that your stockbroker or investment advisor made unsuitable recommendations, you need a skilled securities arbitration attorney who knows all the investments, investment strategies and stockbroker tricks of the trade. Free Initial Consultation With Experienced Lawyers Serving West Hempstead, New York Residents in FINRA Securities Arbitrations Involving Unsuitable Investment Claims 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 York, 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 York citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

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Thornwood, New York FINRA Defense Lawyers

Do You Need a FINRA Defense Attorney? You may have read that Stephen J. Stancarone of Thornwood, New York 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. In October 2017, Stephen J. Stancarone joined Edward Jones and became registered as a General Securities Representative. The firm later filed a Uniform Termination Notice for Securities Industry Registration (Form U5) on October 2, 2020, disclosing that Stancarone had been discharged due to alleged misconduct. According to the findings, FINRA sent Stancarone a request to appear for an on-the-record testimony over concerns that he continued to hold accounts at another broker-dealer after being denied by his firm and converted the funds for benefiting performance measures. The findings state that Stancarone responded to FINRA during a phone call, stating that he allegedly received, acknowledged, and refused the request to appear for an on-the-record testimony at any time. Although Stephen J. Stancarone 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, Stephen J. Stancarone 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 Attorneys Serving Financial Advisors Throughout Thornwood, New York 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 New York 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 New York citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889, or via e-mail.

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Centereach, New York FINRA Securities Arbitration Attorney

Did Corey Alexander Johnson Cause You Investment Losses? Corey Alexander Johnson of Centereach, New York was fined $5,000 and suspended from association with any FINRA member in all capacities for a period of 30 days. The sanctions were based on findings that he allegedly exercised discretionary trading without authorization in violation of NASD Rule 2510 (b) and FINRA Rule 2010. The suspension was in effect from April 19, 2021, through May 18, 2021. In June 2011, Corey Alexander Johnson joined Aegis Capital Corp. and became registered as a General Securities Representative. According to FINRA’s findings, from April 2017 through April 2019, Johnson exercised discretionary trading in five customers’ accounts effecting approximately 1,358 transactions. The findings state that prior to placing the trades, Johnson  allegedly failed to obtain authorization from the customers to exercise discretion in their accounts and Aegis did not accept any of the accounts as discretionary accounts, therefore violating NASD Rule 2510(b) and FINRA Rule 2010. NASD Rule 2510(b) prohibits registered representatives from “exercising any discretionary power in a customer’s account” unless the customer has provided prior written authorization to the representative and the account has been accepted as a discretionary account, in writing, by the representative’s member firm. A violation of NASD Rule 2510(b) is also a violation of FINRA Rule 2010. Do You Need a New York FINRA Securities Arbitration Attorney? Are you a Centereach, New York investor who has suffered significant losses in your stock brokerage and investment accounts?  Did your New York stockbroker or investment advisor misrepresent facts, fail to disclose facts making the statements made false and misleading, recommend unsuitable investments or strategies, excessively trade or churn, mismanage your investment account or engage in other kinds of stockbroker misconduct? If so, you need representation by an experienced, highly-rated and nationally recognized FINRA securities arbitration attorney—a lawyer who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases as well as other complex legal issues.  Free Initial Consultation With Experienced FINRA Securities Arbitration Attorneys Serving Centereach, New York 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 York, 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 York citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

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Brooklyn, New York FINRA 8210 Defense Lawyer

Do You Need a FINRA 8210 Defense Attorney? You may have read that Alexander William Schifter of Brooklyn, New York 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. In March 2020, Alexander William Schifter joined Pharus Securities, LLC while registered as an Investment Banking Representative (IB). The firm later filed a Uniform Termination Notice (Form U5), disclosing that he had been terminated for violating the policies. According to the findings, FINRA sent a request to Schifter in connection with their investigation into whether Schifter improperly accessed the confidential information of a previous bank employer. The findings state that Schifters counsel responded to FINRA, stating that he allegedly received, acknowledged, and refused to provide any of the documents and information requested. Although Alexander William Schifter 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, Alexander William Schifter 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 Brooklyn, New York 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 New York 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 New York citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889, or via e-mail.

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Plainview, New York Securities Account Churning Attorney

Did Steven Luftschein Cause You Investment Losses? An Office of Hearing Officers decision became final in which Steven Robert Luftschein of Plainview, New York was barred from association from any FINRA member in all capacities. The sanction was based on findings that Luftschein allegedly churned and excessively traded in three customers’ accounts in violation of Section 10(b) of the Securities Exchange Act of 1934 (the Exchange Act) and Rule 10b-5 thereunder, and also FINRA Rules 2111, 2020 and 2010. From June 2013 through early October 2016, Steven Robert Luftschein was registered with Aegis Capital Corp. as a General Securities Representative. According to FINRA’s findings, Luftschein executed approximately 430 trades in three firm customers’ accounts resulting in high annualized turnover rates ranging from 12.5 to 96.3 and annualized cost-to-equity ratios ranging from 35.6% to 123.8%. The findings state that Luftschein did not have a reasonable basis to believe that his excessive trading was suitable and caused more than $261,000 in combined losses and approximately $136,200 in sales and commissions. The findings further state that Luftschein allegedly failed to seek or obtain approval from the customers or his firm before trading in the accounts. Although Steven Robert Luftschein is no longer registered or associated with a FINRA member, he remains subject to FINRA’s jurisdiction. Do You Need a Plainview, New York Securities Account Churning Attorney? Section 10(b) of the Exchange Act, Rule l0b-5, and FINRA Rule 2020 are anti-fraud rules. They prohibit associated persons from using manipulative, deceptive or other fraudulent devices or contrivances in connection with the purchase or sale of any security (Rule 10b-5) or to induce the purchase or sale of any security (FINRA Rule 2020). FINRA Rule 2111 requires, among other things, an associated person “who has actual or de facto control over a customer account to have a reasonable basis for believing that a series of recommended transactions, even if suitable when viewed in isolation, are not excessive and unsuitable for the customer when taken together” in light of the customer’s investment profile. A violation of FINRA Rule 2111 also constitutes a violation of FINRA Rule 2010. Are you a Plainview, New York investor who has suffered significant losses in your stock brokerage and investment accounts?  Did your Plainview, New York stockbroker or investment advisor excessively trade or churn or otherwise mismanage your investment account? If so, you will need to have representation from an experienced, highly-rated and nationally recognized FINRA arbitration securities churning law attorney—an attorney who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases as well as other complex legal issues. Free Initial Consultation With Experienced Securities Churning Attorneys Serving Plainview, New York 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 New York, 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 York citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

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Staten Island, New York Securities Account Churning Lawyer

Did Christian Frank Lucchetto Cause You Investment Losses? Christian Frank Lucchetto of Staten Island, New York submitted a Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority in which he was fined $5,000 and suspended from association with any FINRA member for a period of three months. The sanctions were based on findings that he allegedly engaged in excessive and unsuitable trading in violation of FINRA Rules 2111 and 2010. The suspension is in effect from February 16, 2021, through May 15, 2021. From July 2016 to September 2019, Christian Frank Lucchetto was registered as a General Securities Representative with  First Standard Financial Company LLC. According to the FINRA findings, Lucchetto allegedly engaged in excessive and unsuitable trading in a customer’s accounts. The findings state that while Lucchetto exercised de facto control over the account, his trading generated high cost-to-equity ratios of more than 71 percent and a turnover rate of 19.42. In addition to the findings, the customer paid a total of $30,454.86 in commissions and fees while incurring losses totaling $64,402.09. In addition, Lucchetto was ordered to pay $30,454.86, plus interest, in restitution to the customer. Do You Need a New York Securities Account Churning Attorney? FINRA Rule 2111, requires, among other things, an associated person “to have a reasonable basis for believing that a series of recommended transactions, even if suitable when viewed in isolation, are not excessive and unsuitable for the customer when taken together” in light of the customer’s investment profile. Excessive trading occurs, and is unsuitable, when a registered representative has actual or de facto control over trading in a customer’s account and the level of activity in that account is inconsistent with the customer’s investment needs and objectives. A violation of FINRA Rule 2111 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. Are you a Staten Island, New York investor who has suffered significant losses in your stock brokerage and investment accounts?  Did your New York stockbroker or investment advisor excessively trade or churn or otherwise mismanage your investment account? If so, you will need to have representation from an experienced, highly-rated and nationally recognized FINRA arbitration securities churning law attorney—an attorney who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases as well as other complex legal issues.  Free Initial Consultation With Experienced Securities Churning Lawyers Serving Staten Island, New York 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 New York, 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 York citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail. 

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Melville, New York FINRA 8210 Defense Lawyer

Do You Need a FINRA 8210 Defense Attorney? You may have read that Yousuf Saljooki of Melville, New York 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. In December 2017, Yousuf Saljooki joined Worden Capital Management LLC and became registered as a General Securities Representative. The firm later filed a Uniform Termination Notice (Form U5), disclosing that he was terminated due to alleged misconduct. According to the findings, FINRA began an investigation and sent a request to Saljooki for information and documents or to appear for an on-the-record testimony regarding his alleged participation in undisclosed outside business activities. The findings state that Saljooki allegedly received, acknowledged, and failed to timely provide the requested information or appear for on-the-record testimony. Although Yousuf Saljooki is no longer associated with any FINRA member firm, he remains subject to FINRA’s jurisdiction. Rule 8210 requires persons subject to FINRA’s jurisdiction to provide information to FINRA upon request. Rule 8210(a)(1) authorizes FINRA, in the course of an investigation, to require persons subject to its jurisdiction to “provide information orally, in writing, or electronically and to testify at a location specified by FINRA staff, under oath or affirmation administered by a court reporter or a notary public if requested, with respect to any matter involved in the investigation.” Rule 8210(a)(2) authorizes FINRA to “inspect and copy the books, records, and accounts” of persons subject to its jurisdiction “with respect to any matter involved in the investigation that is in such person’s possession, custody, or control.” Rule 8210(c) provides that “[n]o member or person shall fail to provide information or testimony or to permit an inspection and copying of books, records, or accounts pursuant to this Rule.” Unfortunately, Yousuf Saljooki 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 Melville, New York 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 New York 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 New York citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889, or via e-mail. 

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Woodmere, New York FINRA 8210 Defense Lawyer

Do You Need a FINRA 8210 Defense Attorney? You may have read that Najib Hossain Khan of Woodmere, New York 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. In May 2017, Najib Hossain Khan joined Citigroup Global Markets Inc. and became registered as an Investment Company and Variable Contracts Product Representative. The firm later filed a Uniform Termination Notice (Form U5), disclosing that he had been terminated due to previous suspected involvement in theft from customer bank accounts. According to the findings, FINRA sent a request to Khan for information and documents regarding their investigation into the alleged misconduct. The findings state that Khan allegedly received, acknowledged, and failed to timely provide the requested documents and information. Although Najib Hossain Khan 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 has the right to “require a person associated with a member, or any other person subject to FINRA’s jurisdiction to provide information orally, in writing or electronically” FINRA Rule 8210(c) similarly provides that “[n]o member or person shall fail to provide information pursuant to this Rule.” A violation of FINRA Rule 8210 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.” Unfortunately, Najib Hossain Khan 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 Woodmere, New York 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 New York 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 New York citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889, or via e-mail. 

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