Wisconsin Broker Barred by FINRA

The following information was obtained on FINRA’s website under “Disciplinary and Other FINRA Actions, July, 2013,” by Soreide Law Group, a Securities Arbitration Law Firm, (888) 760-6552.

Robert John Beihoff (CRD #2986562, Registered Representative, Brookfield, Wisconsin)

was barred from association with any FINRA member in any capacity. Without admitting or denying the allegations, Beihoff consented to the described sanction and to the entry of findings that while holding himself out as an exempt unregistered investment adviser, he effected securities transactions totaling $27,845,000 in customers’ securities accounts that were held away from, and owned by, non-customers of his member firms, and received at least $81,413 in compensation.

The findings stated that Beihoff utilized discretion, with customer authorization, while effecting securities transactions in some of the customers’ accounts. Beihoff’s firms and the executing broker-dealers where the accounts were held never accepted the accounts as discretionary.

FINRA's findings also stated that Beihoff failed to notify his firms and the executing broker-dealers where the accounts were located, of his association with such member firms prior to effecting transactions using discretion in customer accounts. The findings also included that Beihoff provided incorrect responses to his firms on outside business activity disclosure forms that he knew or should have known were false and/or misleading.

Also, Beihoff incorrectly reported on annual compliance questionnaires that he had reported all sources of income to his broker-dealer, that he had ensured that all advisory fees had been paid through his broker-dealer, that he was complying with his broker¬dealer’s requirement that he not collect advisory fees while not registered as an investment adviser, that he did not have any discretionary accounts, and that he was not engaged in any consulting activity or investment advisory services. (FINRA Case #2010025512301)

According to FINRA's BrokerCheck, this broker was previously registered with FINRA at the following brokerage firms:

H. BECK, INC
CRD# 1763
BROOKFIELD, WI
12/2009 - 12/2010

SII INVESTMENTS, INC.
CRD# 2225
BROOKFIELD, WI
01/1998 - 12/2009

This ends the information obtained on FINRA's website.

If you or a family member have experienced losses through your broker/financial advisor's recommendations, call a Securities Arbitration Lawyer for a free consultation on how to potentially recover your losses at 888-760-6552.