Las Cruces, New Mexico Attorney Who Sues Stockbrokers For Selling Away (Selling Unauthorized Investments)
Did Robert Barnard Cause You Investment Losses? Robert Barnard of Las Cruces, New Mexico was permanently barred from association with any FINRA member in all capacities. The sanction was based on findings that he allegedly refused to appear for an on-the-record testimony regarding allegations of selling outside investments and borrowing money from a customer. By refusing to appear for the testimony, Robert Barnard violated FINRA Rule 8210. In March 2008, Robert Barnard joined Principal Securities, Inc. and registered as a General Securities Representative. According to the FINRA findings, the firm filed a Uniform Termination Notice for Securities Industry Registration (Form U5) indicating the Barnard had been discharged due to evidence of misconduct with clients. Soon after, FINRA began an investigation into the allegations and sent a request to Barnard to appear for an on-the-record testimony. The FINRA findings stated that Barnard had sent an email stating he acknowledged the request and would not appear for the testimony. Although Barnard is no longer associated with any member firm, he remains subject to FINRA’s jurisdiction. FINRA Rule 8210(a)(1) states in relevant part that FINRA “requires a person associated with a member, or any other person subject to FINRA’s jurisdiction to provide information orally, in writing, or electronically and to testify at a location specified by FINRA staff, under oath or affirmation administered by a court reporter with respect to any matter involved in the investigation, complaint, examination, or proceeding.” A failure to comply with a request for information pursuant to 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.” Do You Need a New Mexico FINRA Securities Arbitration Attorney? Did your Las Cruces, New Mexico stockbroker or investment advisor recommend an investment that turned out to be an investment that was never reviewed or approved by their stockbrokerage firm employer? The stockbrokers who stoop to that level are usually insolvent or uncollectible. And so, the investor’s only recourse is against the brokerage firm employer. But stockbrokerage firms always claim ignorance of the stockbroker’s activities and deny liability for the sale of unauthorized investments which they call Selling Away as if that was an absolute defense. Not so! You will definitely need an experienced attorney who knows the securities laws and how to hold the stockbrokerage firm responsible for their employees Selling Away under legal principles of actual authority, apparent authority, estoppel and failure to supervise. If your attorney knows where to look he/she can often find Red Flags of the alleged unauthorized sales that the firm did not look for, missed, or saw and just ignored. Free Initial Consultation With Experienced Selling Away Attorneys Representing Las Cruces, New Mexico 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 New Mexico, 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 Mexico citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.
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