#oregon - Law Offices of Robert Wayne Pearce

Jul 15, 2021

Portland, Oregon Variable Annuities Investment Dispute Lawyer

Did Lisa Ann Brumm Cause You Investment Losses? Lisa Ann Brumm of Portland, Oregon submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which she was fined $7,500 and suspended from association with any FINRA members in all capacities for a period of six months. The sanctions were based on findings that she recommended unsuitable variable annuities, borrowed money from the same customer and made misrepresentations all in violation of FINRA Rules 2111, 2330, 3240 and 2010. The suspension remains in effect from February 16, 2021, through August 15, 2021. From July 2011 to May 2017, Lisa Ann Brumm was registered with Equitable Advisors LLC as an investment company and variable contracts products representative. According to FINRA’s findings, Brumm allegedly recommended that a customer invest $400,000 into two deferred variable annuities while also entered into an oral agreement to borrow $40,000. The findings state that Brumm did not have a reasonable basis to believe that the recommendations were suitable and was also aware of her member firms’ written procedures that did not permit representatives from borrowing money from a customer. In addition to the findings, FINRA alleged that Brumm negligently misrepresented to another customer the effect of a $20,000 withdrawal from a variable annuity which resulted in $600 in charges and fees. Although Lisa Ann Brumm is not currently registered or associated with a member firm, she remains subject to FINRA’s jurisdiction. FINRA Rule 2111 requires that an associated person 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 associated person to ascertain the customer’s investment profile. FINRA Rule 2330 states that no associated person shall recommend to any customer the purchase of a deferred variable annuity unless such associated person has a reasonable basis to believe, among other things, that (a) the customer would benefit from certain features of deferred variable annuities, such as tax-deferred growth, annuitization, or a death or living benefit; and (b) the particular deferred variable annuity as a whole including its riders and similar product enhancements are suitable for the particular customer. FINRA Rule 3240 provides that no registered representative may borrow money from or lend money to any customer of such person, unless, among other things, the member has written procedures allowing the borrowing and lending of money between such registered persons and customers of the member, and the registered person complies with certain notice requirements. Violations of FINRA Rules 2111, 2330 and 3240 are also violations of FINRA Rule 2010. Do You Need an Oregon Variable Annuity Investment Attorney? Are you a Portland, Oregon investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Oregon stockbroker or investment advisor misrepresent or mislead you about a Variable Annuity investment or make an unsuitable recommendation that you invest in a Variable Annuity or otherwise mismanage your investment account? If so, you need representation by an experienced, highly-rated, and nationally recognized FINRA securities arbitration law attorney — an attorney who understands these highly complex and risky Variable Annuity investments. Free Initial Consultation With Experienced Variable Annuities Investment Lawyers Serving Portland, Oregon 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 Oregon, 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 Oregon citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

May 4, 2021

Portland, Oregon Securities Account Forgery Lawyer

Did Nicholas Gregory Baecker Cause You Investment Losses? Nicholas Gregory Baecker submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) for allegedly forging the signatures of customers in violation of FINRA Rules 4511 and 2010. Due to the alleged misconduct, Mr. Baecker was assessed a fine of $5,000 and suspended from association with any FINRA member in all capacities for four months. The suspension is in effect from December 21, 2020, through April 20, 2021. In December 2008, Nicholas Gregory Baecker joined Thrivent Investment Management, Inc., and became registered as an Investment Company and Variable Contracts Products Representative. The firm later filed a Uniform Termination Notice (Form U5), disclosing that he had been terminated due to his alleged misconduct. According to the FINRA findings, Baecker allegedly violated the firm’s written supervisory procedures by electronically forging sixteen customers signatures on life insurance applications. The findings state that Baecker was aware of the firm’s procedures and caused his firm to maintain inaccurate books and records because some of the forged applications were securities sold by prospectus through the firm. Although Nicholas Gregory Baecker is no longer associated with any FINRA member firm, he remains subject to FINRA’s jurisdiction. During the relevant period, the firm’s written supervisory procedures required that client signatures on firm documents always be authentic and expressly prohibited representatives from forging a customer’s signature. FINRA Rule 4511 requires members and associated persons to “make and preserve books and records as required under the FINRA rules, the [Securities Exchange Act of 1934 (the “Exchange Act”)], and the applicable Exchange Act rules.” Customer account opening documents are records required to be made and preserved under Section 17(a)(1) of the Exchange Act and Rule 17a-3(a)(17)(i)(A) thereunder. Implicit in the requirement to make and preserve books and records is the requirement that the information in those books and records be true and accurate. A violation of FINRA Rule 4511 also constitutes a violation of FINRA Rule 2010. Do You Need an Oregon FINRA Securities Arbitration Attorney? Are you a Portland, Oregon investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Oregon stockbroker or investment advisor forge your signature or alter information on account opening documents about your investment objectives, risk tolerance, or financial condition to make unsuitable recommendations or otherwise mismanage your investment account? If so, you will need to have representation from an experienced, highly rated, and nationally recognized FINRA arbitration securities forgery law attorney—an attorney who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration forgery cases and other complex legal issues. Free Initial Consultation With Experienced Securities Account Forgery Lawyers Serving Portland, Oregon 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 Oregon, 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 Oregon citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Feb 5, 2021

Shady Cove, Oregon Securities Misrepresentation Attorney

Did Mark Brian Degner Cause You Investment Losses? Mark Brian Degner of Shady Cove, Oregon, submitted a Letter of Acceptance, Waiver, and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) for negligently making material misstatements pertaining to the sale of 20-year CDs to elderly customers. According to FINRA’s complaint, the customers sustained losses of approximately $75,000 as a result of the misrepresented CDs. FINRA’s findings alleged that Mark Degner, while employed by LPL Financial LLC, misrepresented 20-year interest rate-linked CDs to his customers by claiming that the CDs were not subject to any survivor benefit limitations when, in fact, they were. The survivor benefits of the CDs were actually subject to a limitation that restricted the amount of early redemptions among purchasers. While the issuer’s disclosure statement revealed this information, Mr. Degner did not review this information and made recommendations that his customers purchase CDs totaling $685,000. As a result of the survivor benefit limitation, the estates of two of the customers were not able to fully redeem their CDs and incurred substantial losses of approximately $75,000. Mark Degner, without admitting or denying FINRA’s allegations, was fined $7,500 and received a suspension for 20 business days. Do You Need A Securities Misrepresentation Attorney? Oregon has hundreds 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 make misrepresentations about investing in securities (stocks, bonds, options, mutual funds, REITs, Junk Bonds, Hedge Funds, Structured Products, etc.) they are selling, the strategies they are recommending (margin, short selling, option) and to engage in many other kinds of stockbroker fraud and stockbroker misconduct which violates Federal and Oregon securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures. Experienced Securities Lawyers Who Represent Investors With Misrepresentation Claims In FINRA Arbitrations Throughout Oregon and Nationwide. Are you an Oregon investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Oregon stockbroker or investment advisor, misrepresent facts about the securities, investments or strategies they were recommending or otherwise mismanage your investment account? If so, you need representation by experienced, highly-rated and nationally recognized FINRA arbitration attorneys who know FINRA rules and procedures and how to handle these FINRA arbitration cases and other complex legal issues. By hiring a top rated securities attorney like Robert Wayne Pearce with over 40 years of experience with investment misrepresentation claims 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 one of the best securities attorneys to recover your investment losses for all types of stockbroker fraud and stockbroker misconduct in FINRA arbitration proceedings! At The Law Offices of Robert Wayne Pearce, P.A., we represent investors with securities misrepresentation claims and many other kinds of securities law and investment disputes in FINRA arbitration and mediation proceedings. We handle a wide range of practice areas besides securities misrepresentation and stockbroker fraud claims such as stockbroker breach of fiduciary duty, stockbroker negligence, failure to supervise stockbrokers, and unsuitable recommendations by stockbrokers. Attorney Pearce and his staff represent investors throughout Oregon, 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 Securities Misrepresentation and Stockbroker Fraud Lawyers Serving Oregon Residents in FINRA Arbitrations The Law Offices of Robert Wayne Pearce, P.A. are highly experienced lawyers who successfully handle securities misrepresentation, stockbroker fraud, stockbroker misconduct and other 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 Oregon citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Feb 5, 2021

Salem, Oregon Stockbroker Fraud Attorney

Did Michael B. Winegar Cause You Investment Losses? Michael B. Winegar, a former representative with Wedbush Securities, Inc. (Wedbush) submitted an AWC in which he was permanently barred by FINRA. According to FINRA, Michael Winegar, of Salem Oregon, converted $100,000 from an elderly customer and used the money to repay his family and personal debts and trade securities. FINRA stated Mr. Winegar enticed an 85-year-old elderly customer into paying him $100,000. Mr. Winegar allegedly told the customer that he intended to use the money to establish an independent investment advisory firm and would supposedly pay back the $100,000 debt by providing the customer with free investment advice for the next four years. FINRA found that soon after Mr. Winegar had received the $100,000, he did not establish an independent advisory firm but instead sold his securities business to another Wedbush registered representative and left the securities industry. Part of the sale involved Mr. Winegar entering into a non-compete agreement that prevented him from providing the elderly customer the investment advice that he had intended to provide in order to obtain the money for the business. Without admitting or denying FINRAs findings, Michael Bruce Winegar was barred from association with any FINRA member in any capacity. Do You Need A Stockbroker Fraud Attorney? Oregon has hundreds 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 engage in one or more kinds of stockbroker fraud. They could make misrepresentations about investing in securities (stocks, bonds, options, mutual funds, REITs, Junk Bonds, Hedge Funds, Structured Products, etc.) they are selling. Unsuitable recommendations of the strategies they recommend (margin, short selling, option) is another kind of stockbroker fraud. They can engage in many other kinds of stockbroker fraud and stockbroker misconduct which violates Federal and Oregon securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures. Experienced Stockbroker Fraud Lawyers Who Handle FINRA Arbitrations Throughout Oregon and Nationwide. Are you an Oregon investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Oregon stockbroker or investment advisor, misrepresent facts about the securities, investments or strategies they were recommending or otherwise mismanage your investment account? If so, you need representation by an experienced, highly-rated and nationally recognized FINRA arbitration lawyer — an attorney who knows FINRA rules and procedures and how to handle these FINRA arbitration cases as well as other complex legal issues. By hiring a top rated stockbroker fraud attorney like Robert Wayne Pearce with over 40 years of experience 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 securities attorneys to recover your investment losses for all types of stockbroker fraud and stockbroker misconduct in FINRA arbitration proceedings! At The Law Offices of Robert Wayne Pearce, P.A., we represent investors with securities misrepresentation claims and many other kinds of securities law and investment disputes in FINRA arbitration and mediation proceedings. We handle a wide range of practice areas besides securities misrepresentation and stockbroker fraud claims such as stockbroker breach of fiduciary duty, stockbroker negligence, failure to supervise stockbrokers, and unsuitable recommendations by stockbrokers. Attorney Pearce and his staff represent investors throughout Oregon, 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 Stockbroker Fraud Lawyer Serving Oregon Residents in FINRA Arbitrations The Law Offices of Robert Wayne Pearce, P.A. are highly experienced lawyers who successfully handle securities misrepresentation, stockbroker fraud, stockbroker misconduct and other 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 Oregon citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.