Evidently, FINRA’s investigation concerned Johnson possibly working with a partner who forged client signatures on account documents. Supposedly, a client complaint which alleged the forgery spawned FINRA’s investigation into Johnson.
Apparently, pursuant to Rule 8210, FINRA required that Johnson testify or supply documents for its investigation. However, Johnson violated FINRA Rule 8210 and FINRA Rule 2010 because she failed to do so. In fact, FINRA asked Johnson to supply documents and information in 2018. Supposedly, Johnson did not respond to the request. FINRA says it made another request which Johnson also did not respond to. It appears that Johnson additionally declined to testify for FINRA. Johnson basically told FINRA that she would not show up. For this reason, FINRA barred her.
Northwestern Mutual Client Files Complaint Indicating Meaghan Johnson Made Unsuitable Mutual Fund Trades
First of all, a client of Northwestern Mutual disputed Johnson’s sales practices on August 10, 2018. Mainly, the client alleged that Johnson sold unreasonable or inappropriate insurance and mutual fund products. Allegedly, Johnson failed to properly allocate the client’s assets. Not only that, but the client suggested that Johnson may have forged a client’s signature on a loan document. Apparently, Johnson agreed on November 6, 2018 to pay the client $33,383.27 to settle this matter.
Meaghan Johnson Allegedly Makes Unauthorized Insurance Policy Changes, Forges Client Signature
Secondly, Northwestern Mutual reports that a client brought a dispute about Johnson on November 28, 2017. Allegedly, Johnson made changes to a life insurance policy that the client purchased. Supposedly, Johnson altered or forged the client’s signature to make the changes. To resolve these allegations, Johnson compensated the client to the tune of $290,635.40. Accordingly, this matter closed on April 26, 2018.
Northwestern Client Claims Meaghan Johnson Signed Clients’ Names To Make Unauthorized Transactions
Thirdly, on November 15, 2017, clients of Northwestern Mutual brought a dispute about Johnson’s changes to the client’s life insurance policies. Supposedly, Johnson signed their signatures on forms to make changes or even loans on their policies. Allegedly, the clients did not consent to Johnson changing their policies or effectuating any loans. All things considered, Northwestern Mutual opted to settle this matter on August 2, 2018 through paying the client $123,313.46.
2017 Complaint Indicates Johnson Made Bad Recommendations
Also, a Northwestern Mutual client took issue with Johnson’s actions in a April 21, 2017 complaint. Supposedly, Johnson and her partner told the client to make an IRA withdrawal and use the proceeds to pay for whole life insurance premiums. The client indicated that her policies later lapsed. Apparently, Northwestern Mutual settled this dispute on October 10, 2017 by paying the client $102,511.19.
Investment Loss Lawyers
Have you experienced losses from Northwestern Mutual Investment Services representative Meaghan Johnson? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have suffered losses due to misconduct of brokers and brokerage firms.