The following summation of information was found on FINRA's website under "Disciplinary and Other FINRA Actions, February, 2014."
Robert Lee Bateman (CRD #1459540, Registered Representative, Ogden, Utah)
was fined $25,000 and suspended by FINRA for 18 months. Robert Bateman consented to the sanctions and findings that he accepted gifts from clients totaling $151,000 and borrowed $80,000 from his firm's clients, both of which violate the policies and proper procedures of his firm.
According to FINRA, Robert Bateman composed a promissory note which stated the time the loan would be repaid and the interest amount. Additionally, FINRA's findings reported that Bateman did not report this on the firm's compliance questionnaires. The clients who gave the gifts to Robert Bateman refused repayment for their gifts.
The loans were repaid to the customers who loaned Robert Bateman money in full. The suspension is in effect from January 6, 2014, through July 5, 2015.
(FINRA Case #2012034066901)
Robert L. Bateman was previously registered with the following FINRA firm(s) according to FINRA's BrokerCheck:
LINCOLN FINANCIAL ADVISORS CORPORATION (CRD# 3978) - OGDEN, UT
02/1986 - 09/2012
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY (CRD# 2580) - FORT WAYNE, IN
02/1986 - 05/2006
LINCOLN NATIONAL PENSION INSURANCE COMPANY (CRD# 10293) 02/1986 - 01/1989
The information available on FINRA's website ends here.
The Soreide Law Group represents clients nationwide in arbitrations before FINRA. Call an attorney for a free consultation on how to potentially recover your investment losses at 888-760-6552.
Soreide Law Group is investigating potential investor claims involving DCM US Multi-Family Homes PLC notes sold or recommended through Andbanc Brokerage LLC. They are also investigating sales or recommendations through Andbanc Advisory LLC. Additionally, they are reviewing sales or recommendations through BCI Securities, Inc., Boreal Capital Securities, LLC (also known as Mora Capital Securities), and […]
Soreide Law Group está investigando posibles reclamaciones de inversionistas relacionadas con los bonos de DCM US Multi-Family Homes PLC vendidos o recomendados a través de Andbanc Brokerage LLC, Andbanc Advisory LLC, BCI Securities, Inc., Boreal Capital Securities, LLC (también conocida como Mora Capital Securities). Por otro lado, Mora WM Securities, LLC también estuvo involucrada. Si […]
Contact Soreide Law Group for a Free Review of Your Potential Investment Loss Claim If your financial advisor recommended Creative Media & Community Trust (NASDAQ: CMCT) and you suffered substantial losses, you may have legal rights. A CMCT investment loss attorney can help you understand your options and pursue recovery. Many investors purchased CMCT believing […]
Phone:
Fax: 1-954-760-6553
Email: info@securitieslawyer.com