#anaheim - Law Offices of Robert Wayne Pearce

Apr 10, 2021

Anaheim, California FINRA 8210 Defense Lawyer

You may have read that Gautam Arora of Anaheim, California 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. Do You Need a FINRA 8210 Defense Attorney? In 2013, Gautam Arora joined Transamerica Financial Advisors 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 alleged misconduct. According to the findings, Arora allegedly solicited investors to participate in unapproved investments without approval from his firm. The findings state that FINRA then began an investigation and sent a request for Arora for documents and information. The findings further state that Arora responded to FINRA through email and a phone call, stating that he allegedly received, acknowledged, and refused to provide the requested documents. Although Gautam Arora is no longer associated with a FINRA member firm, he remains subject to FINRA’s jurisdiction. FINRA Rule 8210(a) 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 … in writing, or electronically … with respect to any matter involved in the investigation, complaint, examination or proceeding that is in such … person’s possession, custody or control.” 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, in the conduct of their business, to “observe high standards of commercial honor and just and equitable principles of trade.” Unfortunately, Gautam Arora 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 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.

Jan 4, 2021

Anaheim, California Failure to Diversify Securities Account Attorney

Did Charles Frieda Cause You Investment Losses? Charles Frieda, a former registered representative with Wells Fargo Clearing Services, LLC (f/k/a Wells Fargo Advisors, LLC), submitted a Letter of Acceptance, Waiver and Consent (AWC) in which he was prohibited by the Financial Industry Regulatory Authority (FINRA) for making recommendations in an investment strategy which was over-concentrated in energy-sector securities and not suitable for his clients. FINRA determined that Mr. Frieda’s unsuitable recommendations resulted in millions of dollars in losses to his clients. According to FINRA, Charles Henry Frieda (and another Wells Fargo representative) recommended to more than 50 customers an over-concentration of energy-sector securities, some of which were speculative. Due to the speculative nature of the energy-sector securities, the volatility of the energy market, and the highly over-concentrated levels in the clients’ accounts, Mr. Frieda exposed his customers to significant losses. FINRA found, Mr. Frieda did not properly consider his customers’ investment profiles, which includes their investment experience, risk tolerance, investment time horizon, net worth, and liquidity needs. Even when the energy market downturned, Mr. Frieda continued to make unsuitable recommendations that his clients adhere to his investment strategy. As a result, Mr. Frieda’s customers suffered millions of dollars in aggregate losses. Without admitting FINRA’s findings, Charles H. Frieda of Anaheim, California was barred from association with any FINRA member in all capacities. California has thousands of stock brokerage firms and investment advisory offices. With so many stock brokerage firms and investment advisory offices, comes the potential for their stockbrokers, financial advisors, and other representatives to mismanage securities and other investment accounts by failing to employ sound asset allocation and diversification investment principles and engage in all sorts of misconduct which violates Federal and California securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures. Experienced Lawyers Who Handle Over-Concentration Of Securities Claims In FINRA Arbitrations Throughout California and Nationwide. Are you a California investor who has suffered significant losses in your stock brokerage and investment accounts? Did your California stockbroker or investment advisor over-concentrate your securities account investments in a single asset class of only equities, fixed income or real estate investments like REITs? Did your stockbroker or investment advisor only recommend that you invest in one sector like the oil and gas or one geographic area like Puerto Rico? The failure to diversify and over-concentration of accounts in any single asset class or one type of investment sector or geographic area can lead to a disaster if the one asset class, sector or area collapses. 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 cases involving the failure to diversify and over-concentration of accounts in one asset class, sector or geographic area and other complex legal issues. Do You Need A California Failure to Diversify Securities Account Attorney? 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 over-concentration of securities in accounts and other investment mismanagement cases—he aggressively represents investors and is one of the best lawyers to recover your investment losses for the failure to diversify investments in your account and all types of stockbroker misconduct in FINRA arbitration proceedings! At The Law Offices of Robert Wayne Pearce, P.A., we represent investors not only in securities over-concentration cases but all kinds of securities law and investment disputes in FINRA arbitration and mediation proceedings. We handle a wide range of practice areas such as fraud and misrepresentation, breach of fiduciary duty, failure to supervise, and unsuitable recommendations. 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 Free Initial Consultation With An Attorney Experienced In Failure to Diversify Investment Claims Serving California Residents In FINRA Arbitration Proceedings The Law Offices of Robert Wayne Pearce, P.A. are highly experienced lawyers who successfully handle claims against stockbrokers for failure to diversify securities accounts and over-concentration of any investment in any account but other securities account mismanagement cases 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 California citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.