#fortwayne - Law Offices of Robert Wayne Pearce

Jan 7, 2021

Fort Wayne, Indiana Securities Attorneys Handling Hedge Fund Investment Disputes

Did Lincoln Financial Advisors Corporation Cause You Investment Losses? Lincoln Financial Advisors Corporation of Fort Wayne, Indiana submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry National Regulatory Authority (FINRA) for allegedly failing to implement and enforce reasonable supervisory procedures related to the recommendation of private placement variable annuities. FINRA found representatives from two of LFA’s branch offices recommended customers to invest in a hedge fund that engaged in a complex option trading strategy. FINRA alleged that the complexity of the hedge fund exposed the LFA clients to a high degree of financial risk. LFA however approved the recommendations and 25 firm customers invested approximately $11.7 million in the hedge fund. In 2010, the hedge fund was shut down. Without admitting or denying the findings, Lincoln Financial Advisors agreed to the FINRA sanctions and was censured and ordered to pay a $150,000 fine. Do You Need a Securities Attorney Handling Hedge Fund Investment Disputes? Indiana 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 misrepresent and mislead investors about investing in Hedge Funds and engage in all kinds of stockbroker misconduct which violates Federal and Indiana securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures. Experienced Securities Attorney For Investors With Hedge Fund Claims In FINRA Arbitrations Throughout Indiana and Nationwide. Are you an Indiana investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Indiana stockbroker or investment advisor misrepresent or mislead you about a Hedge Fund investment or make an unsuitable recommendation that you invest in a Hedge Fund or otherwise mismanage your investment account? If so, you need to hire an experienced, highly-rated and nationally recognized FINRA securities arbitration law attorney who understands these highly complex and risky Hedge Fund investments. You will also 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. By hiring a top rated and highly successful 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/lawyers] to recover your investment losses in Hedge Funds and 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 Hedge Fund and 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 of Hedge Funds. Attorney Pearce and his staff represent investors throughout Indiana, 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 Experienced Hedge Fund Investment Lawyers Serving Indiana Residents In FINRA Arbitrations The Law Offices of Robert Wayne Pearce, P.A. are highly experienced lawyers who successfully handle Hedge Fund cases and other 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 Hedge Fund cases and all kinds of securities law and investment disputes serving Indiana citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Former NYLIFE Securities Stockbroker Alan Harold New Barred for Misconduct

Alan Harold New of Fort Wayne, Indiana submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was barred for allegedly failing to provide documents to FINRA in violation of FINRA Rules 8210 and 2010. From 2004 through 2016, Alan Harold New was registered as an Investment Company and Variable Contracts Products Representative with NYLIFE Securities LLC. According to FINRA, a request was sent to Mr. New regarding his participation in the sale of promissory notes related to the Woodbridge group of companies LLC. The findings stated that Mr. New allegedly raised approximately $15 million from the sale of the promissory notes and earned at least $1.5 million in commission. In addition, FINRA revealed nine days after the request was sent, Mr. New’s attorney responded stating that he allegedly received, acknowledged, and refused to provide the information and documents requested. Although Mr. New is not currently registered with any 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 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 . . .” FINRA Rule 8210(c) states that “{n]o member or person shall fail to provide information or testimony or to permit inspection and copying of books, records, or accounts pursuant to this Rule.” A failure to comply with 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. Without admitting or denying the findings, Mr. New consented to the sanction and has been barred from association with any FINRA member in all capacities. Stockbrokers have been known to engage in many practices that may violate industry and firm rules, practices, and procedures. In order to protect investors from stockbroker misconduct, FINRA rules require brokerage firms to establish and implement a supervisory system. The implementation of these industry rules requires supervisors to monitor their employees to ensure compliance with federal and state securities laws, securities industry rules and regulations, and the brokerage firm’s own policies and procedures. If broker-dealers and/or their supervisors fail to establish and implement these protective measures, they may be liable to investors for damages which flow from the broker’s misconduct. Therefore, investors who have suffered losses stemming from misconduct, by their broker can file claims to recover damages against broker-dealers, like NYLIFE Securities LLC which should consistently oversee its brokers’ activities in order to prevent the above-described misconduct. Have you suffered losses in your NYLIFE account due to misconduct by your broker? Was Alan Harold New your stockbroker? If so, call Robert Pearce at the Law Offices of Robert Wayne Pearce, P.A. for a free consultation. Mr. Pearce is accepting clients with valid claims against NYLIFE stockbrokers who may have engaged in broker misconduct and caused investors’ losses. The most important of investors’ rights is the right to be informed! This Investors’ Rights blog post is by the Law Offices of Robert Wayne Pearce, P.A., located in Boca Raton, Florida. For over 40 years, Attorney Pearce has tried, arbitrated, and mediated hundreds of disputes involving complex securities, commodities, and investment law issues. The lawyers at our law firm are devoted to protecting investors’ rights throughout the United States and internationally! Please visit our website, www.secatty.com, post a comment, call (800) 732-2889, or email Mr. Pearce at pearce@rwpearce.com for answers to any of your questions about this blog post and/or any related matter.