Robert Francis Leis, Former Raymond James Broker, Fined and Suspended by FINRA

Soreide Law Group obtained the following information on FINRA’s website under, “Disciplinary and Other FINRA Actions, January 2018.” 
Robert Francis Leis (CRD #2396271, Louisville, Kentucky) 
was assessed a deferred fine of $5,000 and suspended by FINRA for 20 business days for allegedly effecting securities transactions in the accounts of clients on a discretionary basis without having obtained prior written authorization from the clients to exercise discretion on their behalf, and without prior written acceptance of the accounts as discretionary from his member firm.
FINRA’s findings stated that, although Robert Francis Leis had discussed making these purchases with his clients prior to the day he executed each transaction, he failed to contact his clients to obtain their authorization to go forward with each transaction on the same days the transactions took place.
The suspension was in effect from November 20, 2017, through December 18, 2017. (FINRA Case #2017053370801)
According to FINRA’s BrokerCheck, Robert Francis Leis has 4 “Disclosures” on his report.  The report lists an “employment separation after allegations” from Raymond James Financial in January of 2017. The report states that the financial advisor, “was terminated after the Firm learned that he was exercising discretion in client accounts without consent of the clients.
Leis has been in the securities industry for 23 years and was listed with 6 firms, the two most recent listed below:
01/24/2017 - 08/03/2017  J.J.B. HILLIARD, W.L. LYONS, LLC - LOUISVILLE, KY
12/18/2006 - 02/23/2017  RAYMOND JAMES FINANCIAL SERVICES, INC. - LOUISVILLE, KY
If you were a client of former Raymond James and/or Hilliard Lyons broker, Robert Francis Leis of Louisville, Kentucky, and experienced losses due to his actions or recommendations, call Soreide Law Group and speak to a lawyer regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group represents clients nationwide before FINRA.  We operate on a contingency fee basis.  Let our years of experience work for you.