FINRA Complaint Filed Against FREDERICK DAVID HOLLOWAY of HOLLOWAY & ASSOCIATES, INC.

On April 2, 2018, FREDERICK DAVID HOLLOWAY (CRD#: 248814) was named a respondent in a FINRA complaint alleging that as the sole registered representative and owner of his member firm, Holloway & Associates Inc., he allegedly recommended that his clients exchange one deferred variable annuity contract (VA) for another without having a reasonable basis for the recommendations.
The Financial Industry Regulatory Authority Inc. (FINRA) has instituted disciplinary proceedings against Frederick David Holloway, whose firm is based in Easton, Md.
It is alleged that between January 2013 and June 2016, Holloway convinced his clients to make 43 transactions in which they exchanged their lower-cost VAs for higher-cost VAs without making an adequate effort to ensure that the exchanges were suitable for his clients. According to FINRA, Holloway obtained 70% of his income from VA sales.
FINRA states that between January 2010 and September 2016, Holloway allegedly falsified or altered VA transaction paperwork. It is alleged that he had his clients sign uncompleted paperwork, which he and his assistant filled in later and/or photocopied for use in other transactions. FINRA has charged him with forging, or directing his assistant to forge, client initials to make changes to the paperwork. The FINRA complaint further alleges that Holloway allegedly directed his assistant to impersonate clients and employees of an insurance company in telephone conversations regarding VA transactions. The FINRA complaint alleges Holloway pretended to be an insurance company employee to obtain information from his clients' medical providers in connection with life insurance sales.
Also, the FINRA complaint alleges that FREDERICK DAVID HOLLOWAY directed his assistant to complete insurance continuing education classes for him so that he could meet his Maryland insurance licensing requirement. Allegedly, Holloway was able to retain his state insurance license and sell variable annuities because his assistant completed continuing education courses. The complaint alleges that Holloway filed a Uniform Application for Investment Adviser Registration (Form ADV) in which he allegedly willfully made false statements, creating the false appearance that he maintained an active business of providing financial planning services.
The FINRA complaint alleges that Holloway deliberately withheld documents requested by FINRA until it learned of their existence and confronted Holloway about them, and he then allegedly altered documents before they were produced to FINRA.
According to FINRA’s BrokerCheck, which is available to the public on FINRA’s website, FREDERICK DAVID HOLLOWAY has been in the securities industry for 44 years and has been listed with 7 firms.  He has been with his current firm since 2/15/1982:
HOLLOWAY & ASSOCIATES, INC.
ONE MILL PLACE, SUITE 101
EASTON, MD 21601 
If you were/are a client of FREDERICK DAVID HOLLOWAY, of HOLLOWAY & ASSOCIATES, INC. and experienced investment losses due to his actions or recommendations, call Soreide Law Group and speak to an experienced securities lawyer regarding the possible recovery of your financial losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group represents clients nationally before FINRA.  We operate on a contingency fee basis.  No fee to you if no recovery.