Robert A Lax Barred by FINRA

The following information was obtained on FINRA’s website, available to the public, under “Disciplinary and Other FINRA Actions - August 2021.”
Robert A Lax (CRD #1985758, Warwick, New York)
On June 14, 2021, an Acceptance, Waiver and Consent (AWC) was issued in which Robert A Lax was barred from association with any FINRA member in all capacities.
Without admitting or denying FINRA’s findings, Robert A Lax consented to the sanction and to the entry of findings that he allegedly refused to provide information and documents requested by FINRA regarding his OBAs (outside business activities).
FINRA’s findings stated that Robert A Lax responded to portions of the request but did not provide certain categories of the information and documents requested. Lax acknowledges that he received FINRA’s request and will not produce the outstanding information and documents at any time.
(FINRA Case #2020069019701)
According to FINRA Rule 3270 (Outside Business Activities of Registered Persons), FINRA requires all registered representatives to notify their firms in writing of proposed outside business activities (OBAs), so firms can determine whether to limit or allow those activities.
FINRA Rule 3270 states, “No registered person may be an employee, independent contractor, sole proprietor, officer, director or partner of another person, or be compensated, or have the reasonable expectation of compensation, from any other person as a result of any business activity outside the scope of the relationship with his or her member firm, unless he or she has provided prior written notice to the member, in such form as specified by the member. Passive investments and activities subject to the requirements of Rule 3280 shall be exempted from this requirement.”
According to FINRA’s BrokerCheck, Robert A Lax was in the securities industry for 31 years.  Lax has three disclosures on his FINRA CRD report.  Lax had been listed with two firms, the most recent listed below:
05/03/1999 - 05/24/2021  PARK AVENUE SECURITIES LLC - PARAMUS, NJ 
If you have experienced financial losses due to the actions or recommendations of former Park Avenue Securities of Paramus, New Jersey, broker Robert A. Lax, contact Soreide Law Group and speak to an experienced securities lawyer at no cost  regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group works on a contingency fee basis, and represents clients nationwide before FINRA.