Virginia Securities Attorney for Variable Annuities Investment Disputes
Virginia 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 unsuitable recommendations and misrepresent and/or mislead investors about the risks of owning variable annuities, their features including surrender fees before investing in Variable Annuities and engage in all kinds of stockbroker misconduct which violates Federal and Virginia securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures.
For example, John Hongkeun Pak aka Hong Gown Pak, a former broker employed at New York City, New York-based MetLife Securities Inc., submitted a Letter of Acceptance, Waiver and Consent in which he agreed to the entry of the Financial Industry Regulatory Authority’s (FINRA) findings that he utilized discretionary power in a customer’s account without the customer’s written consent or his firm’s acceptance of the discretionary account. FINRA’s findings stated that Mr. Pak reallocated about $240,000 of the customer’s investment in a variable annuity from a fixed income subaccount to equity subaccounts. The value of the customer’s investments in the equity subaccounts decreased, and Mr. Pak again utilized discretionary power by reallocating the customer’s investments in the equity subaccounts back into the fixed income subaccount. FINRA found that Mr. Pak’s firm barred discretionary trading in variable annuity subaccounts. Subsequently, the firm settled with the customer by reimbursing the losses she sustained due to Mr. Pak’s discretionary transactions in her account. Mr. Pak of Centreville, Virginia was fined $5,000 and suspended from association with any FINRA member in any capacity for one month. The fine must be paid immediately upon Mr. Pak’s reassociation with a FINRA member firm following his suspension or prior to the filing of an application or relief request from any statutory disqualification, whichever is earlier. The suspension was effective from July 1, 2013 through July 31, 2013.Experienced Lawyers With Claims by Investors Who Purchased Variable Annuities In FINRA Arbitrations Throughout Virginia and Nationwide
Are you a Virginia investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Virginia 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 lawyer — an attorney who understands these highly complex and risky Variable Annuity investments.
You will also need an experienced lawyer who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases and other complex legal issues. By hiring a top rated and highly successful attorney like Robert Wayne Pearce with over 40 years of experience with variable annuities 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 attorneys to recover your Variable Annuity investment losses and all types of stockbroker misconduct in FINRA arbitration proceedings!
At The Law Offices of Robert Wayne Pearce, P.A., we represent investors in all kinds of Variable Annuities and 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, failure to supervise, and unsuitable recommendations of Index Annuities. Attorney Pearce and his staff represent investors throughout Virginia, 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 attorneys who successfully handle Variable Annuities cases and other securities law matters and 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 a lawyer with over 40 years of experience and success representing investors who were sold Variable Annuities and all kinds of securities and investments serving Virginia citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.