Soreide Law Group, a Securities Arbitration Law Firm, (888) 760-6552, obtained the following information on FINRA’s website under “Disciplinary and Other FINRA Actions, July, 2013.”
Timothy Ruben Ward (CRD #2600718, Registered Representative, Dexter, Missouri)
was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Ward consented to the described sanction and to the entry of findings that he solicited customers to buy a mutual fund. The customers gave Ward $10,000 in cash to invest in the mutual fund. Instead of investing the funds, Ward converted the funds for his own personal use and then provided the customers with false quarterly account statements that showed that the money had been invested in the mutual fund.
FINRA's findings stated that Ward borrowed at least $10,000 in total from firm customers in violation of the firm’s written policy prohibiting lending arrangements with customers. Ward did not give written notice to, nor obtain prior written approval from, the firm for any of the loans he received from the customers.
Also, FINRA's findings included that Ward settled a customer complaint without notifying the firm. FINRA found that a firm customer purchased a variable annuity contract in the amount of $52,000. Due to a misunderstanding between the customer and Ward regarding the product, the customer decided to terminate the contract. The customer was beyond the free look period and thus subject to surrender charges in the amount of $4,454.54. Ward settled the complaint by paying the customer the full amount of the surrender charges via cashier’s checks without notifying the firm.
(FINRA Case #2013036640801)
According to FINRA's BrokerCheck, Tim Ward was previously registered with FINRA at the following brokerage firms:
INVESTMENT PROFESSIONALS, INC.
CRD# 30184
SIKESTON, MO
07/2008 - 04/2013
U.S. BANCORP INVESTMENTS, INC.
CRD# 17868
BLOOMFIELD, MO
12/2001 - 07/2008
FIRSTAR INVESTMENT SERVICES,INC.
CRD# 14536
MORRIS PLAINS, NJ
01/2000 - 12/2001
This ends the information obtained on FINRA’s website.
Call Soreide Law Group for a free consultation with an attorney on how to potentially recover your losses: 888-760-6552.
Investors potentially experienced sales practice violations by securities broker Matthew R. Carbray [CRD: 4565811, Northampton, Massachusetts], based on public information on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Carbray has worked for Kestra Investment Services LLC since July 21, 2006, and Kestra Advisory Services LLC since April 19, 2016. Continue reading to learn more about Carbray’s […]
Investors apparently complained about securities broker Juan Pablo Benavides [CRD: 4288007, Miami, Florida], given the public information found on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Benavides has worked for Merrill Lynch as a securities broker since November 22, 2000, and as a financial advisor since March 15, 2004. See below to find out more about […]
Investors potentially incurred losses because of securities broker Sandy Meyer Leff [CRD: 1796695, Atlanta, Georgia], according to information disclosed through Financial Industry Regulatory Authority (FINRA) BrokerCheck. Leff has worked for Carter Terry Company Inc. as a securities broker since October 6, 2016, and as a financial advisor since October 21, 2016. Keep reading to discover […]
Phone:
Fax: 1-954-760-6553
Email: info@securitieslawyer.com