Financial Industry Regulatory Authority (FINRA) BrokerCheck reveals disclosures about securities broker Laura Beth Barnes (CRD#: 4482198, Winterset, Iowa). Barnes previously worked for Moloney Securities Co. Inc. from July 2012 to December 2024 and for Eagle One Investments LLC from July 2005 to July 2012.
Recent disclosures highlight regulatory actions against Barnes concerning violations of Regulation Best Interest (Reg BI) in connection with the sale of L Bonds issued by GWG Holdings Inc.
On September 27, 2024, the United States Securities and Exchange Commission (SEC) initiated regulatory proceedings against Moloney Securities Co. Inc., along with Donald R. Hancock, David F. La Grange, and Laura B. Barnes (SEC Case No. 3-22217). Barnes and her colleagues allegedly failed to comply with Reg BI when recommending L Bonds to retail clients between June 30, 2020, and January 15, 2022.
SEC found that during this period, GWG Holdings Inc. disclosed that L Bonds carried a high degree of risk, could be considered speculative, and were only suitable for investors with substantial financial resources who did not require liquidity. Despite these warnings, Barnes and other representatives allegedly failed to exercise reasonable diligence, care, and skill in understanding the associated risks and did not have a reasonable basis to believe the recommendations were in the clients’ best interests.
SEC determined that Barnes violated the Care Obligation and the General Obligation of Reg BI, which requires brokers to act in the best interests of their clients. In addition, the regulatory action noted that Moloney Securities failed to establish and enforce adequate policies and procedures to mitigate conflicts of interest associated with the sale of L Bonds.
On September 27, 2024, SEC issued a cease-and-desist order against Barnes. She was sanctioned with a fine of $12,500 and disgorgement of $12,744. Barnes and the involved parties have accepted the sanctions as part of a settlement agreement with the SEC.
Barnes was most recently registered with Moloney Securities Co. Inc. from July 2012 until December 2024.
As of 2025, Barnes is no longer registered as a securities broker or investment adviser.
Looking for more information about Laura Barnes? If so, reach out to Soreide Law Group online or at (888) 760-6552 to consult with a securities attorney. Soreide Law Group works on a contingency basis, advances all costs, and assists investors across the country with recovering losses from sales practice misconduct. Barnes and the firms she worked for deny accusations of sales practice violations.
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