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Texas Securities Attorney Who Sues Stockbrokers for Their Negligence

Texas 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 fail to use reasonable care or commit negligence in speaking with you, making recommendations, failing to follow your instructions and to engage in many other kinds of negligent stockbroker misconduct which violates Federal and Texas securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures.

For example, Fox Financial Management Corporation (Fox Financial) of Carrollton, Texas, Brian Murphy of Frisco, Texas and James Rooney of Carrolton, Texas were all fined and suspended by the Department of Enforcement for the Financial Industry Regulatory Authority for alleged failure to supervise a registered representative and failure to establish, maintain and enforce written supervisory procedures.

FINRA’s allegations are that in July 2008, a Registered Representative of Fox Financial completed a Fox-prepared form entitled “Outside Activity Approval.” When the form is received, the firm (Fox Financial) approves or disapproves the requested activity and then tracks all outside business activities. The form specified that his business was as a Registered Investment Advisor and that he was compensated for “client’s fees and money managers’ fees.”

FINRA found that Murphy and Rooney failed to conduct an independent investigation into the types of compensation, the representative’s customers, and failed to ascertain the nature of the business beyond what was on the “Outside Activity Approval Form.” FINRA also found that Fox, Rooney, and Murphy violated FINRA Rule 2010 by not supervising a registered representative’s private securities transactions and failing to record the transactions on the firm’s books and records. Additionally, FINRA determined that the Respondents violated FINRA Rule 2110 by failing to establish, maintain, and enforce written supervisory systems and procedures.

Consequently, Fox Financial Management Corporation was expelled from FINRA membership and fined $100,000. Murphy was fined $25,000 and suspended from association with any FINRA member in any capacity for three months. Rooney was fined $50,000 and suspended from association with any FINRA member in any capacity for a period of six months.

Experienced Securities Lawyers Who Arbitrate Stockbroker Negligence Claims In FINRA Arbitrations Throughout Texas and Nationwide

Are you a Texas investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Texas stockbroker or investment advisor commit negligence by failing to use due care in representing facts about the securities, investments or strategies? Did they recommend unsuitable securities transactions or strategies? Were they negligent in the management of your securities account? Under common law, every stockbroker owes one or more of the following duties of reasonable care in dealing with you and your securities account, including the duty to: not misrepresent facts; disclose all relevant and material facts; execute your orders promptly; follow your instructions; only recommend suitable investments and strategies; and manage your account reasonably when they take control of your account. If you believe that your stockbroker or investment advisor acted in breach of their duty of reasonable care, you will need an attorney who knows the law and exactly what duties are owed by the stockbroker and/or investment advisor.

More importantly, you will need the representation of an experienced, highly rated and nationally recognized FINRA arbitration attorney — an attorney who knows 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 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 negligence and all types of stockbroker misconduct in FINRA arbitration proceedings!

At The Law Offices of Robert Wayne Pearce, P.A., we represent investors with stockbroker negligence 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 stockbroker negligence, such as claims involving securities misrepresentation and stockbroker fraud, breach of fiduciary duty, failure to supervise, and unsuitable recommendations by stockbrokers and investment advisors. Attorney Pearce and his staff represent investors throughout Texas, 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.

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Free Initial Consultation With An Experienced Securities Attorney Serving Texas Residents in FINRA Arbitrations Involving Stockbroker Negligence Claims

The Law Offices of Robert Wayne Pearce, P.A. are highly experienced lawyers who successfully handle stockbroker negligence claims 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 Texas citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Client Reviews
★★★★★
Robert Pearce is part of that unusual breed of lawyers that are able to create empathy with clients and thoroughly adopt their cause. No half efforts here. He and his group of professionals are outstanding strategists that can execute with precise fervor and unyielding determination. Theirs is a huge wave of facts, research, precedents and preparation, that has impressed me in its thoroughness and creativity, and most importantly with the results. No stone goes unturned and no effort is ever spared. In my book, he and they are those of a very rare kind that one wants to keep for a very long time. Ramon F.
★★★★★
This law firm is the real deal. We were so lucky that they took our case as they have so much experience in securities and all the wrongdoing that happens in these investment companies where they mislead you and your money (as in our case) into schemes that are not what you think they are. Mr. Robert Pearce is one of the best lawyers around, a truly professional who will fight for you and will tell you as it is all the time. Astrid M.
★★★★★
Mr. Pearce is a great professional and attorney. He led me through every step of the process in a clear, direct and straightforward manner. I highly recommend him as a securities attorney. Rey S.
★★★★★
Just like the song from HAMILTON, it's so nice to have Bob Pearce on your side. He is the consumate plaintiff's lawyer: smart. dedicated, fully able to try a case but a great negotiator in a mediation. He did a wonderful job for us, fully supporting us through the process and more than holding his own against a large national law firm. Maurice Z.
★★★★★
No lawyer except Bob said I had a chance of winning. When Ubs lawyers laughingly offered me zero to settle the dispute, Bob became even more determined to prove everybody wrong. Bob was extremely prepared, and always a step ahead of the opposing attorneys throughout the arbitration. In the end, Bob and I had the last laugh when the arbitrators awarded me almost 6 million dollars. J. Blanco