#bestsecuritiesarbitrationattorney - Law Offices of Robert Wayne Pearce

Dec 7, 2021

East Syracuse, New York FINRA Securities Arbitration Attorney

Did Paul Andrew Spero Cause You Investment Losses? Paul Andrew Spero of East Syracuse, New York submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was fined $5,000 and suspended from association with any FINRA member in all capacities for a period of 15 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 May 17, 2021, through June 7, 2021. In September 1993, Paul Andrew Spero joined Cadaret, Grant & Co., Inc and became registered as a General Securities Representative. According to FINRA’s findings, from August 2017 and August 2018, Spero allegedly exercised discretionary trading in 70 customers’ accounts effecting approximately 105 transactions. The findings state that although the customers knew that Spero was exercising discretion in their accounts, Spero had failed to obtain written authorization from the customers or approval from his member firm to exercise discretion in the accounts. Paul Andrew Spero is still registered with Cadaret and remains subject to FINRA’s jurisdiction. 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, to “observe high standards of commercial honor and just and equitable principles of trade.”. 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 East Syracuse, 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.

Nov 17, 2021

Ramsey, New Jersey FINRA Securities Arbitration Attorney

Did Scott David Fergang Cause You Investment Losses? Scott David Fergang of Ramsey, New Jersey 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 15 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 May 17, 2021, through June 7, 2021. In July 2015, Scott David Fergang joined RBC Capital Markets, LLC and became registered as a General Securities Sales Supervisor. The firm later filed a Uniform Termination for Securities Industry Registration, disclosing that Fergang was terminated due to alleged misconduct. According to FINRA’s findings, from February 15 through March 2019, Fergang allegedly exercised discretionary trading in four customers’ accounts effecting approximately 814 transactions. The findings state that prior to placing the trades, Fergang allegedly failed to obtain written authorization from the customers to exercise discretion in their accounts and RBC did not accept any as discretionary accounts. Scott David Fergang is currently registered with a FINRA member firm and remains subject to FINRA’s jurisdiction. 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, to “observe high standards of commercial honor and just and equitable principles of trade.”. Do You Need a New Jersey FINRA Securities Arbitration Attorney? Are you a New Jersey investor who has suffered significant losses in your stock brokerage and investment accounts? Did your New Jersey 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 Ramsey, New Jersey 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 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.

Nov 7, 2021

Boca Raton, Florida FINRA Securities Arbitration Attorney

Did Dawson James Securities Cause You Investment Losses? Dawson James Securities of Boca Raton, Florida submitted a Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority in which they were fined $20,000 and ordered to pay $7,083.93, plus interest, in restitution. The sanctions were based on findings that Dawson James charged customers excessive commissions in violation of FINRA Rules 2121 and 2010. Dawson James has been a member of FINRA since 2004 and currently employs approximately 40 registered representatives. According to FINRA’s findings, from June 2015 through April 2020, Dawson James allegedly charged customers $7,083.93 of commissions on a total of 236 transactions. The findings state that the commissions charged were unreasonable and excessive considering that they ranged from approximately five percent to 66 percent of the transactions’ principal value. In addition, FINRA states that if a member acts as an agent for his customer, the member shall not charge his customers more than a fair commission or service charge, taking into consideration all relevant circumstances. FINRA Rule 2010 requires that “[a] member, in the conduct of its business, shall observe high standards of commercial honor and just and equitable principles of trade.” A violation of FINRA Rule 2121 constitutes a violation of FINRA Rule 2010. FINRA Rule 2121 Supplementary Material .01 set a guideline of five percent for determining whether a commission is unfair or unreasonable. However, the “5% Policy” is a guide, not a rule. A commission pattern of five percent or even less may be considered unfair or unreasonable. Do You Need a Florida FINRA Securities Arbitration Attorney? Are you a Boca Raton, 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 Boca Raton, 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.

Sep 19, 2021

Atlantic Highlands, New Jersey FINRA Securities Arbitration Attorney

Did Louise Jones Cause You Investment Losses? Louise Jones of Atlantic Highlands, New Jersey submitted a Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority in which she 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 she allegedly engaged in outside business activities in violation of FINRA Rules 3270 and 2010. The suspension was in effect from March 15, 2021, through May 14, 2021. From January 2017 through January 2020, Louise Jones was registered with three different FINRA member firms. According to FINRA, one of the associated firms, Craft Capital, filed a Uniform Termination for Securities Industry Registration (Form U5) terminating Jones’s registration due to alleged misconduct. The findings state that while associated with all three firms, Jones also worked for a publicly traded company and served as the Chief Executive Officer and a board member without providing notice to any of the firms. The findings further state that Jones did not disclose her involvement with the company in her new employee paperwork or in an annual compliance questionnaire submitted to Craft Capital and received approximately $41,000 in compensation from the company. Although Louise Jones no longer registered or associated with a FINRA member firm she remains subject to FINRA’s jurisdiction. 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, to “observe high standards of commercial honor and just and equitable principles of trade.”. Do You Need a New Jersey FINRA Securities Arbitration Attorney? Are you an Atlantic Highlands, New Jersey investor who has suffered significant losses in your stock brokerage and investment accounts? Did your New Jersey 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 Atlantic Highlands, New Jersey 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 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.

Sep 7, 2021

Cincinnati, Ohio FINRA Securities Arbitration Lawyer

Did Herbert Garrett Frey Cause You Investment Losses? Herbert Garrett Frey of Cincinnati, Ohio submitted a Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority in which he was accessed a fine of $15,000, suspended from association with any FINRA member in all capacities for a period of 16 months, and ordered to pay a disgorgement of commissions received in the amount of $73,137 plus interest. The sanctions were based on findings that he engaged in excessive and unsuitable trading in a customer’s account, placed unauthorized trades, and gave misleading and inaccurate information to the customer in violation of FINRA Rules 4511, 2111 and 2010. The suspension was in effect from April 5, 2021, through August 4, 2022. In November 2017, Herbert Garrett Frey joined Union Capital Company under multiple registrations including a General Securities Principal. The firm later filed a Uniform Termination Notice for Securities Industry Registration (Form U5) disclosing that Frey had been permitted to resign due to misconduct. According to FINRA’s findings, Frey engaged in excessive and unsuitable trading when he executed 679 trades in a customer’s account without authorization. The findings state that Frey’s trading caused the customer to pay $135,210 in fees and commissions, $76,137 of which Frey retained, and incur a total loss of $142,805. The findings further state that Frey provided inaccurate information regarding the transactions and caused his firm to maintain inaccurate books and records. Although Hebert Garrett Frey is no longer associated with a member film, he remains subject to FINRA’s jurisdiction. FINRA Rule 2111(a) provides in pertinent part that “[a] member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile.” FINRA Rule 2010 requires registered representatives to “observe high standards of commercial honor and just and equitable principles of trade.” Unauthorized trading or executing transactions in a customer’s account without the customer’s prior knowledge or consent, violates FINRA Rule 2010. FINRA Rule 4511(a) states that “[m]embers shall make and preserve books and records as required under the FINRA rules, the Exchange Act and the applicable Exchange Act rules.” An individual may violate FINRA Rule 4511 by causing his or her member firm to fail to maintain accurate books and records. Do You Need an Ohio FINRA Securities Arbitration Attorney? Are you a Cincinnati, Ohio investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Ohio 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 Cincinnati, Ohio 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 Ohio, 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 Ohio citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Aug 29, 2021

Austin, Texas FINRA Securities Arbitration Lawyer

Did Robert Riviere Cause You Investment Losses? Robert Riviere of Austin, Texas 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 30 days. The sanctions were based on findings that he allegedly engaged in an outside business activity without approval and violated firm policies in violation of FINRA Rules 3270 and 2010. The suspension was in effect from March 15, 2021, through April 13, 2021. In April 2018, Robert Riviere joined Heritage Financial Systems, Inc. and became registered as a General Securities Representative and General Securities Principal. The firm filed a Uniform Termination Notice for Securities Industry Registration (Form U5) terminating Riviere due to alleged misconduct. According to FINRA’s findings, Riviere allegedly signed a letter of engagement between his corporation, in which he owned and managed, and a third party to provide investment services outside the scope of his firm. The findings further state that Riviere received $5,000 in compensation for conducting financial modeling and analysis relating to his services offered to the third party. Although Robert Riviere is not currently registered or associated with a FINRA member firm, he remains subject to FINRA’s jurisdiction. FINRA Rule 3270 provides, in relevant part, that, “[n]o registered person may be an employee, independent contractor, sole proprietor, officer, director or partner of another person, or be compensated, or have the reasonable expectation of compensation, from any other person as a result of any business activity outside the scope of the relationship with his or her member firm, unless he or she has provided prior written notice to the member, in such form as specified by the member.” A violation of FINRA Rule 3270 also constitutes a violation of FINRA Rule 2010. Do You Need a Texas FINRA Securities Arbitration Attorney? 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. Free Initial Consultation With Experienced FINRA Securities Arbitration Lawyers Serving Austin, Texas 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 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. 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 Texas citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Aug 27, 2021

Palm City, Florida FINRA Securities Arbitration Lawyer

Did Richard Scott Shelley Cause You Investment Losses? Richard Scott Shelley of Palm City, Florida 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 30 days. The sanctions were based on findings that he allegedly participated in private securities transactions without approval in violation of FINRA Rules 3280 and 2010. The suspension was in effect from March 15, 2021, through April 14, 2021. From December 2002 through December 2020, Richard Scott Shelley was registered with Packerland Brokerage Services, Inc. and served as a General Securities Representative and an Investment Company and Variable Contracts Products Representative. According to the FINRA findings, Shelley allegedly solicited an investor to purchase securities in Future Income Payments (FIP) worth $29,500 and promised a 7% to 8% rate of return. The findings state that Shelley received $1,475 in commission and never sought or obtained approval from his firm to participate in the private transaction. In addition to FINRA’s findings, Shelley falsely attested on his firms annual compliance questionnaires that he had not participated in any private securities transactions and the company that offered the FIP’s ceased business, owing nearly $300 million in unpaid investor payments. Although Richard Scott Shelley is not currently registered or associated with a FINRA member firm, he remains subject to FINRA’s jurisdiction. FINRA Rule 3280(e) generally defines a private securities transaction as any securities transaction outside the regular scope of an associated person’s employment with a member. FINRA Rule 3280(b) states 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.” Rule 3280(c) states that when an associated person has received or may receive selling compensation, the member firm shall provide written approval or disapproval of the associated person’s participation in the proposed private securities transaction. A violation of Rule 3280 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. Do You Need a 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 Lawyers Serving Palm City, 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.

Aug 25, 2021

Old Greenwich, Connecticut FINRA Securities Arbitration Attorney

Did Larry Allen Bowman Cause You Investment Losses? Larry Allen Bowman of Old Greenwich, Connecticut 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 45 days. The sanctions were based on findings that he allegedly engaged in outside business activities in violation of FINRA Rules 3270 and 2010. The suspension was in effect from March 15, 2021, through April 28, 2021. In June 2018, Larry Allen Bowman joined Heritage Financial Systems, Inc. and became registered as a General Securities Representative. The firm later filed a Uniform Termination Notice for Securities Industry Registration (Form U5) on December 24, 2019, disclosing that he had been permitted to resign due to alleged misconduct. According to FINRA’s findings, Bowman acted as a consultant and conducted financial modeling and analysis for three different companies without providing written notice or seeking approval from his firm. The findings state that Bowman received $18,750 in commission for his work and falsely attested on an annual compliance questionnaire that he had not engaged in any outside business activities. Although Larry Allen Bowman is not currently registered or associated with a FINRA member firm, he remains subject to FINRA’s jurisdiction. FINRA Rule 3270 provides, in relevant part, that, “a registered person may be an employee, independent contractor, sole proprietor, officer, director or partner of another person, or be compensated, or have the reasonable expectation of compensation, from any other person as a result of any business activity outside the scope of the relationship with his or her member firm, unless he or she has provided prior written notice to the member, in such form as specified by the member.” A violation of FINRA Rule 3270 also constitutes a violation of FINRA Rule 2010. Do You Need a Connecticut FINRA Securities Arbitration Attorney? Are you a Connecticut investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Connecticut 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 Old Greenwich, Connecticut 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 Connecticut, 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 Connecticut citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Aug 23, 2021

Algonquin, Illinois FINRA Securities Arbitration Attorney

Did Lang Phu Nguyen Cause You Investment Losses? Lang Phu Nguyen of Algonquin, Illinois submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was fined $5,000 and suspended from association with any FINRA member in all capacities for a period of 45 days. The sanctions were based on findings that he allegedly exercised discretionary trading without authorization and violated firm policies in violation of NASD Rule 2510(b) and FINRA Rule 2010. The suspension was in effect from March 15, 2021, through April 28, 2021. In July 2015, Lang Phu Nguyen joined Edward Jones and became registered as a General Securities Representative. According to FINRA’s findings, from January 2017 through December 2018, Nguyen allegedly exercised discretionary trading in seven customers’ accounts effecting approximately 350 transactions. The findings state that prior to placing the trades, Nguyen allegedly failed to obtain written authorization from the customers to exercise discretion in their accounts. In addition, the findings state that Nguyen violated firm policies when he allegedly used his personal cell phone to take 151 photographs of confidential customer information on 135 separate occasions and used his personal email address to transmit the images to his firm email account. Although Lang Phu Nguyen is no longer registered or associated with a FINRA member, he remains subject to FINRA’s jurisdiction. 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, to “observe high standards of commercial honor and just and equitable principles of trade.”. Do You Need an Illinois FINRA Securities Arbitration Attorney? Are you an Illinois investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Illinois 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 Algonquin, Illinois 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 Illinois, 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 Illinois citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Aug 21, 2021

Pawtucket, Rhode Island Securities Arbitration Attorney

Do You Need a Securities Arbitration Attorney? Keith Holcomb of Pawtucket, Rhode Island submitted a Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority in which he was fined $7,500 and was suspended from association with any FINRA member in all capacities for a period of six months. The sanctions were based on findings that he borrowed money from a customer in violation of FINRA Rules 3240 and 2010. The suspension is in effect from April 5, 2021, through October 4, 2021. From September 2015 to June 2017, Keith Holcomb was registered with MML Investors Services, LLC as an Investment Company and Variable Contracts Products Representative. According to FINRA’s findings, Holcomb borrowed at least $31,420 from a customer without notifying or receiving approval from his firm. The findings state that the firm had supervisory procedures prohibited borrowing money from customers unless they were considered immediate family in which the customer was not. In addition, the findings state that Holcomb was aware that the customer suffered from serious health problems and was not financially secure at the time. Although Keith Holcomb is not currently associated with a FINRA member, he remains subject to FINRA’s jurisdiction. FINRA Rule 3240(a) states that a registered representative may not borrow money from any customer unless his member firm has written procedures that allow for such borrowing and the borrowing arrangement meets certain other conditions. FINRA Rule 3240(b) generally requires a registered representative to notify his member firm and obtain written pre-approval of his borrowing arrangement with a customer. A violation of Rule 3240 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. Are you a Rhode Island investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Rhode Island 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 securities arbitration attorney—an attorney 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 Attorneys Handling Securities Arbitration Cases Serving Pawtucket, Rhode Island 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 Rhode Island, 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 Rhode Island citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.