Carl Busch, a Registered Principal with the Dallas, Texas based WFG Investments, Inc. (WFG) submitted a Letter of Acceptance, Waiver and Consent (AWC) in which he was fined and suspended by the Financial Industry Regulatory Authority (FINRA) for failing to adequately manage a registered representative under his supervision in IRA recommendations and transactions which were unsuitable. FINRA’s findings state that Carl Wayne Busch of Oklahoma City, Oklahoma, failed to properly supervise or investigate numerous red flags involving a registered representative of his member firm who recommended and engaged in unsuitable trades in the Individual Retirement Account (IRA) of a retiree with known health problems, limited income, and a “moderate” risk tolerance.
According to FINRA, the employee under Mr. Busch’s supervision had recommended and purchased three unsuitable securities for a retiree with a degenerative eye disease and limited income. The recommendations were unsuitable and included an investment of $100,831 in a speculative Oklahoma based oil and gas company resulting in an almost complete loss when the company declared bankruptcy. FINRA investigators found, Mr. Busch failed to adequately examine numerous red flags indicating that the employee was engaging in practices that were to the detriment of his customers. As a result, Carl Busch was fined $5,000 and suspended from association with any FINRA member in any principal capacity for 45 days.
Do You Need a Securities Arbitration Attorney?
Texas has thousands of stock brokerage firms and investment advisory offices. With so many stock brokerage firms and investment advisor offices, comes the potential for their stockbrokers, financial advisors, and other representatives to engage in all kinds of stockbroker misconduct which violates Federal and Texas securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures.
Experienced Lawyers Who Handle Securities Claims In FINRA Arbitrations Throughout Texas and Nationwide.
Are you a Texas investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Texas 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.
By hiring a top rated attorney like Robert Wayne Pearce with over 40 years of experience practicing securities law on both sides of the table in FINRA arbitration proceedings, you will clearly see that Attorney Pearce doesn’t just handle cases—he aggressively represents investors and is one of the best attorneys to recover your investment losses for all types of stockbroker misconduct in FINRA arbitration proceedings!
At The Law Offices of Robert Wayne Pearce, P.A., we represent investors in all kinds of securities law and investment disputes in FINRA arbitration and mediation proceedings. We handle a wide range of practice areas such asfraud and misrepresentation, breach of fiduciary duty, failure to supervise, and unsuitable recommendations. Attorney Pearce and his staff represent investors throughout Texas, 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.
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Free Initial Consultation With Experienced FINRA Securities Arbitration Lawyers Serving Texas Residents In FINRA Arbitration Proceedings
The Law Offices of Robert Wayne Pearce, P.A. are highly experienced lawyers who successfully handle securities law matters and investment disputes in FINRA arbitration proceedings, and who work tirelessly to secure the best possible result for you and your case. For dedicated representation by an attorney with over 40 years of experience and success in all kinds of securities law and investment disputes in FINRA arbitrations serving Texas citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.
Robert Wayne Pearce
Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $140 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.
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