Illinois Attorney Who Sues For Failure to Supervise Stockbroker
Illinois has thousands of stock brokerage firms and investment advisory offices. With so many stock brokerage firms comes the potential for a stock brokerage firm to fail to supervise its stockbrokers, financial advisors and investment advisors from engaging in misconduct which violates Federal and Illinois securities laws and Financial Industry Regulatory Authority (FINRA) rules and the stock brokerage firm’s policies and procedures.
For example, Matthew Maberry, a Registered Principal with the Alton, Illinois branch of Alton Securities Group, Inc. submitted a AWC in which he was fined and suspended by FINRA for failing to adequately supervise the exchange-traded fund (ETF) and mutual fund recommendations and sales by registered representatives under his supervision. Matthew Dale Maberry, was the Chief Executive Officer and Chief Compliance Officer with Alton Securities and was responsible for the design and implementation of the firm’s supervisory system. FINRA found that Mr. Maberry failed to ensure that this supervisory system was implemented to supervise the sales activity of its registered representatives. Specifically, FINRA stated that the supervisory system was not reasonably designed to ensure that employees made suitable recommendations of complex investment products such as non-traditional ETFs and non-traditional mutual funds. FINRA also found that Mr. Maberry recommended and sold non-traditional ETFs and mutual funds to customers without fully understanding the risks associated with these securities and, therefore, not having a reasonable basis for recommending them. According to FINRA, Mr. Maberry recommended and executed 50 unsuitable purchases of non-traditional mutual funds for 14 customer accounts which resulted in losses of $38,445 for the 14 customers.Experienced Lawyers Who Handle Failure to Supervise Stockbroker Claims In FINRA Arbitrations Throughout Illinois and Nationwide
Are you an Illinois investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Illinois stockbrokerage or investment advisory firm where you do business fail to supervise the stockbroker who recommended bad investments and otherwise mismanage your investment account? If so, you will need to hire an experienced, highly-rated and nationally recognized FINRA securities arbitration lawyer— an attorney who knows how to handle these failure to supervise cases as well as other complex legal issues.
By hiring a top rated attorney like Robert Wayne Pearce with over 40 years of experience with failure to supervise 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 cases—he aggressively represents investors and is one of the best lawyers to recover your investment losses due to a stockbrokerage or investment advisory firm’s failure to supervises its registered representatives in FINRA arbitration proceedings!
At The Law Offices of Robert Wayne Pearce, P.A., we represent investors with failure to supervise claims and all kinds of 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, churning, theft, forgery, margin account abuse and unsuitable recommendations to purchase, sell or hold securities or recommend unsuitable investments strategies. Attorney Pearce and his staff represent investors throughout Illinois, 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.
The Law Offices of Robert Wayne Pearce, P.A. are highly experienced lawyers who successfully handle failure to supervise claims and other securities law matters and investment disputes in Illinois, 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 failure to supervise and all kinds of securities law and investment disputes serving Illinois citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.