#stockbrokermisconduct - Law Offices of Robert Wayne Pearce

Dec 22, 2020

Cheshire, Connecticut FINRA 8210 Defense Lawyers

Did Matthew O. Clason Cause You Investment Losses? You may have read that Matthew O. Clason of Cheshire, Connecticut 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 2016, Matthew O. Clason joined LPL Financial LLC and was registered as a General Securities Representative and Investment Company and Variable Contracts Products Representative. On September 11, 2020, the firm filed a Uniform Termination Notice for Securities Industry Registration (Form U5) indicating that Clason was terminated because he allegedly liquidated shares in a bank account he maintained and shared with a customer. According to the findings, FINRA sent a request to Clason requesting information regarding the allegations that led to his termination. FINRA stated that Clason acknowledged and ultimately refused to produce the requested documents during a counsel phone call. Although Clason is no longer registered with any FINRA member firm, he remains subject to FINRA’s jurisdiction. FINRA Rule 8210(a)(1) states, in relevant part, that FINRA may “require a person associated with a member, or any other person subject to FINRA’s jurisdiction, to provide information orally, in writing, or electronically and to testify at a location specified by FINRA staff with respect to any matter involved in [a FINRA] investigation.” FINRA Rule 8210(c) states that “no person shall fail to provide information or testimony pursuant to this Rule.” A violation of FINRA Rule 8210 is also a violation of FINRA Rule 2010. Do You Need a Connecticut FINRA Defense Attorney? Unfortunately, Matthew O. Clason 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 Cheshire, Connecticut 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 Connecticut 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 Connecticut citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889, or via e-mail.

Dec 22, 2020

Fosston, Minnesota Securities Account Forgery Attorney

Did Luke Charles Nelson Cause You Investment Losses? Luke Charles Nelson of Fosston, Minnesota was fined $5,000 and suspended from association with any FINRA member in all capacities for a period of two months. The sanctions were based on findings that he allegedly forged a customer’s signature, violating FINRA Rule 2010. Without admitting or denying the allegations, he consented to the sanctions. The suspension was in effect from August 17, 2020, through October 16, 2020. In August of 2013, Luke Charles Nelson joined Thrivent Investment Management Inc. and was registered as a General Securities Representative. According to FINRA, they began an investigation after receiving a Form U5 reporting Nelson’s termination, stating that he had allegedly forged a clients signature on multiple documents. The findings stated that the client completed and signed documents in order to open two accounts and Nelson assisted by submitting them to Thrivent. After receiving the documents, Thrivent informed Nelson that they required non-substantive corrections. Due to the complications, FINRA stated that Nelson had allegedly tried to accommodate the client by signing and resubmitting the forms without his authorization. In addition, FINRA further alleged that Nelson signed an additional two commission-based brokerage account applications again without the clients approval. FINRA Rule 2010 requires registered representatives, in the conduct of their business, to “observe high standards of commercial honor and just and equitable principles of trade.” Forgery and/or falsification of documents is unethical conduct that violates FINRA Rule 2010. Do You Need a Minnesota FINRA Securities Arbitration Attorney? Are you a Fosston, Minnesota investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Minnesota stockbroker or investment advisor forge your signature or alter information on account opening documents about your investment objectives, risk tolerance, or financial condition to make unsuitable recommendations 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 forgery law attorney—an attorney who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration forgery cases and other complex legal issues. Free Initial Consultation With Experienced Securities Account Forgery Attorneys Serving Fosston, Minnesota 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 Minnesota, 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 Minnesota citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Dec 22, 2020

Forked River, New Jersey Lawyer Who Sues Stockbrokers For Selling Away (Selling Unauthorized Investments)

Did Jesse Todd Kovacs Cause You Investment Losses? Jesse Todd Kovacs of Forked River, New Jersey was suspended from association with any FINRA member firm for a period of three months for allegedly participating in a private securities transaction without notifying his member firm in violation of FINRA Rules 3280 and 2010. Due to his financial status, no monetary sanction was imposed. Kovacs’ suspension remains in effect from September 21, 2020, through December 20, 2020. In February 2016, Jesse Todd Kovacs joined O.N. Equity Sales Company (“ONESCO”) and was registered as an Investment Company and Variable Contracts Products Representative. On May 31, 2019 ONESCO had filed a Form U5 disclosing Kovac’s termination due to an undisclosed private securities transaction. According to the FINRA findings, Kovacs allegedly introduced two clients in order to negotiate a loan regarding a promissory note. FINRA stated that one of the customers sold $150,000 in her securities to secure the loan made to the other customer with a promised reimbursement plus 15% interest. The findings further alleged that Kovacs had relayed communication between both customers and informed them of the terms regarding the promissory note all outside the scope of his member firm. FINRA Rule 3280 requires that prior to participating in a private securities transaction, a person associated with a member firm shall provide written notice to his or her firm “describing in detail the proposed transaction and the person’s proposed role therein[.]” FINRA Rule 3280 defines a private securities transaction as “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 is a violation of FINRA Rule 2010, which requires FINRA members and associated persons to “observe high standards of commercial honor and just and equitable principles of trade.” Do You Need a New Jersey FINRA Securities Arbitration Attorney? Did your Forked River, New Jersey 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 Selling Away Lawyers Representing Forked River, New Jersey 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 Jersey, 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 Jersey citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Dec 22, 2020

Hicksville, New York FINRA 8210 Defense Lawyers

Did Christ Elias Baltas Cause You Investment Losses? You may have read that Christ Elias Baltas of Hicksville, 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 Rules 8210 and 2010. In December 2015, Christ Elias Baltas joined Worden Capital Management LLC and was registered as a General Securities Representative, General Securities Principal, and Operations Professional. According to the findings, FINRA began an investigation regarding his supervision over a representatives potential unsuitable recommendations. The findings stated that FINRA sent a request to Baltas to appear for on-the-record testimony regarding the allegations which he allegedly acknowledged, received, and refused to appear at any time. Although Christ Alias Baltas is no longer registered with any FINRA member firm, he remains subject to FINRA’s jurisdiction. FINRA Rule 8210(a)(1) states, in relevant part, that FINRA may “require a member, person associated with a member, or any other person subject to FINRA’s jurisdiction to testify at a location specified by FINRA staff with respect to any matter involved in [a FINRA] investigation” FINRA Rule 8210(c) further states that “no person shall fail to provide testimony pursuant to this Rule.” A violation of FINRA Rule 8210 is also a violation of FINRA Rule 2010, which requires member firms and their associated persons to “observe high standards of commercial honor and just and equitable principles of trade.” Do You Need a New York FINRA Defense Attorney? Unfortunately, Christ Elias Baltas 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 Hicksville, 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.

Dec 22, 2020

New York, New York Securities Account Theft Attorney

Did Andrew Markman Arthur Cause You Investment Losses? Andrew Markman Arthur of New York, New York was permanently barred by the Financial Industry Regulatory Authority (“FINRA”) for the allegedly converting funds and providing false information in violation of FINRA Rules 8210 and 2010. Although Arthur is not associated with a FINRA-regulated broker-dealer and remains subject to FINRA’s jurisdiction. Since November of 1991, Andrew Markman Arthur has been registered as General Securities Representative (GSR) and General Securities Principal (GP) with 11 different firms. During the relevant period between October 2016 and September 2019, Arthur had allegedly converted $275,000 given to him by a relative and provided false information to FINRA during an investigation. According to the FINRA findings, the relative sent the money to Arthur to be invested in an employee program of private placement offerings that did not really exist. The findings further stated that Arthur had allegedly used the $275,000 for his own personal use, concealed the conversion from his relative and falsely attested that he “borrowed” the money to pay for living expenses while under investigation. Do you need a New York FINRA Securities Arbitration Attorney? Are you a New York, New York investor who has suffered significant losses in your stock brokerage and investment accounts? Did your New York stockbroker or investment advisor transfer assets without your authority to the stockbroker or another party, steal, or otherwise commit theft in your investment account? If so, you will need to have representation from an experienced, highly rated, and nationally recognized FINRA arbitration securities law attorney—an attorney who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration forgery cases and other complex legal issues. Free Initial Consultation With Experienced Attorneys Handling Securities Account Theft Cases Serving New York, 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.

Dec 10, 2020

New Jersey Stockbroker Fraud Lawyer

Did Sylvester Knox Cause You Investment Losses? Sylvester Knox of Martinsville, New Jersey was fined $10,000 and suspended from association with any FINRA member firm for a period of nine months for allegedly executing unauthorized transactions and exercising discretionary trading in violation of NASD Rule 2510(b) and FINRA Rule 2010. Without admitting or denying the allegations, Knox consented to the sanctions imposed. The suspension is in effect from August 17, 2020, through May 16, 2021. From August 2000 until February 2017, Sylvester Knox was registered with Merrill Lynch as a General Securities Representative (GSR). According to FINRA, Knox allegedly placed 36 unauthorized transactions in three customers accounts with a principal value of approximately $1.7 million. The findings also alleged that Knox exercised discretionary trading in four different customers’ accounts and effected 36 transactions with a principal value of $2 without seeking or obtaining approval from either the customers or Merrill Lynch to treat the accounts as discretionary. Additionally, Knox is not currently registered or associated with a FINRA member firm and remains subject to FINRA’s jurisdiction. NASD Rule 2510(b) prohibits registered representatives from exercising discretion in a customer’s account unless the customer has provided prior written authorization and the account has been accepted in writing as a discretionary account by the registered representative’s member firm-employer. A violation of NASD Rule 2510(b) is also a violation of FINRA Rule 2010. Do You Need A New Jersey Stockbroker Fraud Lawyer? Are you a New Jersey investor who has suffered significant losses your stock brokerage and investment accounts? Did your New Jersey 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 Lawyers Serving New Jersey 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 Jersey, 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 Jersey citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Dec 10, 2020

Plantation, Florida FINRA Securities Arbitration Attorney

Did Stephen Paul Florio Cause You Investment Losses? Stephen Paul Florio of Plantation, Florida was fined $5,000 and suspended from association with any FINRA member for a period of 10 days. The sanctions were based on findings that Stephen Paul Florio allegedly exercised discretion without authorization in violation of NASD Rule 2510(b) and FINRA Rule 2010. The suspension was in effect from September 21, 2020, through October 2, 2020. From June 2015 to August 2018, Stephen Paul Florio was registered as a General Securities Representative with Raymond James. According to the FINRA findings, Florio allegedly exercised discretionary trading in a customers account without written authorization from the customer or approval from his firm. The findings stated that the customer had only given Florio an oral authorization due to his busy schedule, and the account was never approved for discretion by Raymond James. In addition, Florio allegedly answered “No” to having exercised discretion in any customers account on two of Raymond James annual compliance questionnaires. NASD Rule 2510(b) prohibits registered representatives from “exercising any discretionary power in a customer’s account unless such customer has given prior written authorization to a stated individual or individuals and the account has been accepted by the member.” Do You Need A Plantation, Florida FINRA Securities Arbitration Attorney? Are you a Florida investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Florida 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 Florida 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 Florida, 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 Florida citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Dec 10, 2020

New York FINRA Securities Arbitration Attorney

Did Michael Finn Coomes Jr. Cause You Investment Losses? Michael Finn Coomes Jr. of Phoenix, New York was fined $5,000 and suspended from association with any FINRA member for a period of 15 business days for allegedly exercising discretion without authorization. Without admitting or denying the allegations, Michael Finn Coomes Jr. consented to the sanctions. The suspension was in effect from September 21, 2020, through October 9, 2020. In March 2003, Michael Finn Coomes joined Cadaret Grant and was registered as a General Securities Representative, a General Securities Principal, and an Investment Company and Variable Contracts Products Representative. According to the FINRA findings, Coomes effected trades in 24 customers accounts without their written authorization or approval from his member firm. The findings stated that the trades were based on the customers verbal approval to exercise discretionary trading in their accounts more than three days prior to the transactions. Without the written authorization or approval from Cadaret, Mr. Coomes violated 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 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 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.

Dec 9, 2020

Massachusetts FINRA Securities Arbitration Lawyer

Did Joseph Paul Woitkoski Cause You Investment Losses? Joseph Paul Woitkoski of Pittsburg, Massachusetts was fined $7,500 and suspended from association with any FINRA member in all capacities for a period of 15 business days. The sanctions were based on findings that Joseph Paul Woitkoski allegedly mismarked trades and exercised discretion without authorization in violation of NASD Rule 2510(b) and FINRA Rules 4511 and 2010. The suspension was in effect from September 8, 2020, through October 19, 2020. In 2010, Joseph Paul Woitkoski joined Raymond James and was registered as a General Securities Representative and General Securities Sales Supervisor. According to the FINRA findings, Woitkoski allegedly exercised discretionary trading in 17 accounts held by 12 customers without requesting or obtaining approval from Raymond James. The findings also stated that Woitkoski had received verbal authorization from each of the customers but never received their written authorization. In addition, the findings alleged that Woitkoski mismarked 120 trade orders and inaccurately stated he had not exercised discretionary trading on his firm’s annual compliance questionnaires. NASD Rule 2510(b) prohibited registered representatives from “exercising any discretionary power in a customer’s account unless such customer has given prior written authorization to a stated individual or individuals and the account has been accepted by the member.” FINRA Rule 4511 requires members to “make and preserve books and records as required under the FINRA rules, the Exchange Act and the applicable Exchange Act Rules.” Section 17(a) of the Securities Exchange Act of 1934 and Rule 17a-3 thereunder require firms to make and keep books and records including a “memorandum of each brokerage order.” A registered representative violates FINRA Rule 4511 by causing a member firm to maintain inaccurate books and records. Do You Need A Massachusetts FINRA Securities Arbitration Lawyer? Are you a Massachusetts investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Massachusetts 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 Lawyers Serving Massachusetts 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 Massachusetts, 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 Massachusetts citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Dec 9, 2020

Arizona Lawyer Who Sues Stockbrokers For Selling Away (Selling Unauthorized Investments)

Did James Michael Rapisarda Cause You Investment Losses? James Michael Rapisarda of Scottsdale, Arizona was fined $5,000 and suspended from association with any FINRA member in all capacities for a period of 15 business days. The sanctions were based on findings that he allegedly engaged in private securities transactions which was in violation of FINRA Rules 3280 and 2010. The suspension was in effect from September 8, 2020, through September 28, 2020. Rapisarda is not currently registered or associated with any FINRA member but remains subject to FINRA’s jurisdiction. From November 2017 to December 2018, James Michael Rapisarda was registered as a General Securities Representative and General Securities Principal with LPL Financial LLC. According to the FINRA findings, Rapisarda was a minority shareholder with another company while associated with LPL Financial LLC. The findings stated that he allegedly recommended that five individuals invest in the company, three of which purchased more than $10,000 in shares. Although Rapisarda assisted the individuals with their purchases, he did not receive any compensation. In addition, FINRA alleged that Rapisarda had failed to provide prior written notice to LPL in connection with the transactions. FINRA Rule 3280 requires that prior to participating in a private securities transaction, a person associated with a member firm shall provide written notice to his or her firm “describing in detail the proposed transaction and the person’s proposed role therein[.]” FINRA Rule 3280 defines a private securities transaction as “any securities transaction outside the regular course or scope of an associated person’s employment with a member[.]” A violation of FINRA Rule 3280 is also a violation of FINRA Rule 2010. Do You Need An Arizona Lawyer Who Sues Stockbrokers For Selling Away (Selling Unauthorized Investments)? Did your Arizona 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 Lawyers Representing Arizona 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 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.