Girard Securities - Law Offices of Robert Wayne Pearce

Sep 1, 2017

FINRA Bars Girard Securities Broker for Misuse of Customer Funds and other Violations

Former Girard Securities broker Jason LeBlanc, of Fulshear, Texas, has been barred by the Financial Industry Regulatory Authority (FINRA) for numerous violations, including misuse of customer funds, failure to disclose outside business activities, and engaging in private securities transactions without the firm’s approval. According to FINRA, Jason Hyson LeBlanc violated FINRA rules by engaging in private securities transactions without his firm’s knowledge or approval by selling numerous promissory notes and partnership interests in a coffee shop. FINRA also found that Mr. LeBlanc misused customer funds when he sold a customer a $23,000 promissory note to invest in the coffee shop, returned $3,000 to the customer, and invested the remaining $20,000 in a real estate investment company without her knowledge or consent. Further, Mr. LeBlanc was found by FINRA to have commingled customer and personal funds to pay bills for various business entities and his personal expenses. Without admitting or denying FINRA’s findings, Mr. LeBlanc was barred from associating with any FINRA member in any capacity.

Jan 30, 2015

Girard Securities Subject of Massive SEC Audit Focusing on Branch Office Supervision

Girard Securities, Inc. (Girard Securities) is the subject of a massive audit by the U.S. Securities and Exchange Commission (SEC). The primary focus of the audit will be on the supervision of the registered representatives and financial advisors in its branch offices. With over 230 producing registered reps and financial advisors, the big question is, How will Girard Securities fare under the microscope of the SEC? Girard Securities has been acquired by RCS Capital Corp., an acquisition awaiting the approval of the Financial Industry Regulatory Authority (FINRA). Approval is expected at the end of February, according to a memo from Girard Securities’ Chairperson and Chief Executive, Susie Woltman Tietjen. RCS Capital Corp.’s purchase of Girard Securities, plus its August 2014 purchase of VSR Financial, with its 264 registered representatives and financial advisors, means that RCS Capital Corp. will have nearly 9,700 registered reps and advisors! It appears that the SEC is right on target with its audit priority of branch office supervision!