#lafayette - Law Offices of Robert Wayne Pearce

Jun 15, 2021

Lafayette, Louisiana Private Placement Investment Dispute Attorney

Did Paul Andrew Schmitz Cause You Investment Losses? Paul Andrew Schmitz of Lafayette, Louisiana submitted a Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority in which he was fined $15,000 and suspended from association with any FINRA member in all capacities for one month. The sanctions were based on findings that he participated in a private securities transaction without approval in violation of FINRA Rules 3280 and 2010. The suspension was in effect from February 1, 2021, through February 28, 2021. In April 2005, Paul Andrew Schmitz joined Wells Fargo Advisors Financial Network, LLC where he was registered as a General Securities Representative and a General Securities Sales Supervisor. The firm later filed a Uniform Termination Notice (Form U5), disclosing that Schmitz had been terminated due to alleged misconduct. According to FINRA findings, Schmitz invested $70,614 to purchase interests in a private placement involving life insurance viatical settlements, which entitled himself and other investors to split the death benefits of certain, pre-selected life insurance policies. The findings state that the transaction occurred outside the scope of his employment with Wells Fargo as Schmitz did not seek approval or provide the firm with written notice. Do You Need a Louisiana Private Placement Investment Dispute Attorney? FINRA Rule 3280 prohibits an associated person from “participating in any manner in a private securities transaction,” unless, prior to participating in the transaction, the associated person provides written notice to the member with which he is associated describing in detail the proposed transaction and the person’s proposed role therein.” Under FINRA Rule 3280(e), the term “private securities transaction” means “any securities transaction outside the regular course or scope of an associated person’s employment with a member.” A violation of FINRA Rule 3280 also constitutes 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. Are you a Lafayette, Louisiana investor who has suffered significant losses in your stock brokerage and investment accounts? Did your [State] stockbroker or investment advisor misrepresent or mislead you about an investment in a Private Placement or make an unsuitable recommendation that you invest in a Private Placement like GPB Capital Holdings or EquiAlt or otherwise mismanage your investment account? If so, you will need to have representation by an experienced, highly rated and nationally recognized FINRA securities arbitration law attorney—an attorney who understands these highly complex and risky Private Placement investments. You 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. Free Initial Consultation With Experienced Private Placement Investment Attorneys Serving Lafayette, Louisiana 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 Louisiana, 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 Louisiana citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Jan 8, 2021

Lafayette, Louisiana Securities Account Mismanagement Attorney

Did Mark Tauzin Cause You Investment Losses? Mark Tauzin of Lafayette, Louisiana submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Department of Enforcement of the Financial Industry Regulatory Authority (FINRA) for allegedly engaging in unsuitable short-term trading of Unit Investment Trusts (UITs). FINRA alleged Mr. Tauzin, while associated with LPL Financial LLC (LPL) effected 215 UIT transactions in 14 household accounts within 1 year resulting in more than $316,000 in sales charges to the customers. FINRA found that the excessive short-term trading in front-loaded UITs was unsuitable for the customers and instead was a trading scheme designed to generate commissions. Without admitting or denying the findings, Mr. Tauzin agreed to the FINRA sanctions and was ordered to pay a $20,000 fine, pay $205,115.02 in disgorgement, and suspended for eight months. Do You Need an Attorney for Securities Account Mismanagement? Louisiana 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 and engage in all sorts of misconduct which violates Federal and Louisiana securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures. Experienced Lawyers For Securities Account Mismanagement Claims In FINRA Arbitrations Throughout Louisiana and Nationwide. Are you a Louisiana investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Louisiana stockbroker or investment advisor obtain discretionary authority or just take control of and mismanage your investment account? 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 mismanagement of accounts and other complex legal issues. By hiring a top rated attorney like Robert Wayne Pearce with over 40 years of experience handling securities account mismanagement claims by practicing securities law on both sides of the table in FINRA arbitration proceedings, you will clearly see that Attorney Pearce doesn’t just handle securities account and other investment mismanagement cases—he aggressively represents investors and one of the best attorneys to recover your investment losses for mismanagement of 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 account mismanagement 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 asfraud and misrepresentation, breach of fiduciary duty, failure to supervise, and unsuitable recommendations. Attorney Pearce and his staff represent investors throughout Louisiana, 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 Experienced Securities Account Mismanagement Attorney Serving Louisiana Residents In FINRA Arbitrations The Law Offices of Robert Wayne Pearce, P.A. are highly experienced lawyers who successfully handle securities account and other investment account mismanagement cases but 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 all kinds of securities law and investment disputes in FINRA arbitrations serving Louisiana citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Nov 10, 2020

Former UBS Financial Services Stockbroker Jeremy Joseph Cook Barred for Misconduct

Jeremy Joseph Cook of Lafayette, Louisiana submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was barred for failing to provide documents to FINRA in violation of FINRA Rules 8210 and 2010. From 2014 through 2019, Jeremy Joseph Cook was registered with UBS Financial Services as a General Securities Representative. According to the FINRA findings, a form U5 was received from UBS disclosing Jeremy Joseph Cook’s termination for allegedly administering commissions to his personal ID number rather than the team trading ID number that would split commissions with the co-brokers. In 2019, FINRA began an investigation concerning whether Jeremy Joseph Cook breached FINRA’s rules by performing the stated misconduct. Following the investigation on April 2, 2020, FINRA sent a request for on-the-record testimony in pursuant to Rule 8210. In addition, Jeremy Joseph Cook received a call and follow-up-email from FINRA at which point he allegedly acknowledged and refused to appear at any given time. FINRA Rule 8210 authorizes FINRA, in the course of its investigations, to require persons over whom FINRA possesses jurisdiction to “provide information orally, in writing, or electronically and to testify at a location specified by FINRA staff with respect to any matter involved in the investigation” FINRA Rule 2010 provides that “[a] member, in the conduct of its business, shall observe high standards of commercial honor and just and equitable principles of trade.” Without admitting or denying the FINRA findings, Mr. Cook consented to the sanction and was 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 UBS Financial Services, which should consistently oversee its brokers’ activities in order to prevent the above-described misconduct. Have you suffered losses in your UBS Financial Services account due to misconduct by your broker? Was Jeremy Joseph Cook 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 UBS Financial Services 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.