Des Moines is a city in Polk County, Iowa with scores of registered stock and commodities brokerage firms and investment advisory offices. With so many brokerage firms comes the potential for stockbrokers, financial advisors, and representatives who may engage in conduct which violates securities and commodities industry rules and procedures.
For example, Voya Financial Advisors, Inc. of Des Moines, Iowa submitted a AWC to FINRA for failing to adequately supervise the sales of variable annuity L-shares. FINRA found that from July 2012 to August 2014, Voya failed to identify red flags in the sale of variable annuity L-shares. Further, FINRA found that Voya failed to provide its registered representatives with adequate training and guidance on suitability considerations for these multi-share class variable annuities. According to FINRA, the L-share annuities are a complex investment product that is only suitable for a narrow class of investors and that Voya allegedly failed to provide its advisors with reasonable guidance to discern this class of investor. FINRA noted that during the relevant time period, Voya approved 1,315 L-share variable annuity contracts with a long-term income rider, an investment which has conflicting time horizons. In 70% of Voya’s 1,315 L-share contracts sold, the customer purchasing it had a long-term investment horizon of over seven years. This fact was a red flag that a different investment with lower fees would be more suitable for the customer. FINRA alleges that Voya failed to identify and investigate these red flags. Without admitting or denying the FINRA findings, Voya Financial was ordered to pay a $2.75 million fine.Representing Clients in Des Moines, Throughout Indiana and Nationwide
Are you a Des Moines-based investor who has had significant losses in your investment accounts? Did your Des Moines investment advisor make unsuitable recommendations or otherwise mismanage your investment account? Are you a stockbroker, commodities broker, financial advisor or individual from the Des Moines area who is the subject of a government or industry regulatory investigation or lawsuit? If so, you will need to have representation from an experienced, highly rated and nationally recognized securities and commodities law attorney—an attorney who knows how to handle these complex legal issues. By hiring an attorney with over 40 years of experience practicing securities and commodities law on both sides of the table, you will clearly see that Attorney Pearce doesn’t just handle cases—he represents clients!
At The Law Offices of Robert Wayne Pearce, P.A., we represent clients on all sides of securities and commodities law and investment disputes in courtroom litigation, arbitration and mediation proceedings, and in a wide range of practice areas such as fraud and misrepresentation, breach of fiduciary duty, failure to supervise, and unsuitable recommendations. Attorney Pearce and his staff represent clients in Des Moines, throughout Indiana, and across the United States.
Attorney Pearce is a highly respected Des Moines investors rights advocate, known as a fierce and tireless litigator throughout Indiana and nationwide. Read his Investors Rights Blog and see the knowledge that can only be gained from over 40 years of legal experience. As your stockbroker, commodities broker, and investment fraud dispute lawyer, Mr. Pearce knows all of the available options for your case and will pursue them vigorously to secure the best possible outcome for you and your case. He has earned the distinguished AV Preeminent peer rating through Martindale-Hubbell, the highest rating possible, and he is one of Thomson Reuters Florida Super Lawyers for Securities Litigation. Attorney Pearce has won numerous million-dollar awards and settlements for his clients, earning him membership in The Million Dollar Advocates Forum and The Multi-Million Dollar Advocates Forum as one of the Top Trial Lawyers in America TM.Experienced SEC, CFTC, FINRA and FL-OFR Defense Trial Lawyer Serving All of Indiana
The United States Securities and Exchange Commission (SEC), the United States Commodity Futures Trading Commission (CFTC), the Financial Industry Regulatory Authority (FINRA), and Florida Office of Financial Regulation (FL-OFR) have filed many disciplinary actions and/or complaints against Des Moines-based stockbrokers, financial advisors and/or representatives.
Attorney Pearce’s trial lawyer defense skills are highly regarded in Des Moines, throughout Indiana and across the nation. He began his career with the United States Securities and Exchange Commission (SEC) in 1980. Thereafter he moved to Fort Lauderdale and has expanded his nationwide SEC defense law practice to include commodities law and the defense of United States Commodity Futures Trading Commission (CFTC) and Florida Office of Financial Regulation (FL-OFR) investigations and enforcement proceedings, including registration issues, expungement proceedings, and Form U-5 abuses and defamation.
Attorney Pearce is one of the few attorneys who has not only single handedly beat the SEC's team of lawyers, but recovered his clients' attorney fees and litigation costs incurred in the defense of the government's flawed investigation and enforcement action.Free Initial Consultation With Securities, Commodities and Investment Dispute Lawyers Serving Des Moines Indiana Residents
The Law Offices of Robert Wayne Pearce, P.A. understands what is at stake in securities and commodities law matters and investment disputes, and works tirelessly to secure the best possible result for you and your case. Mr. Pearce provides a complete case review, identifies the strengths and weaknesses of your case, and fully explains all of your legal options. The entire law firm works to ensure that you completely understand the ins and outs of the legal process to give you complete peace of mind knowing that you have chosen the best possible representation for your case.
For dedicated representation by a law firm with over 40 years of experience and success in all kinds of securities and commodities law and investment disputes serving Des Moines citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.