Financial Advisor Allegedly Violates FINRA Rules


Financial Expert WitnessThis case takes place in New York and involves an individual who bought a variety of financial products through through the defendant. They never bought or invested in an individual stock, and had explicitly instructed the defendant as to their desire to minimize risks in their investment strategy. In spite of these explicit instructions, the defendant make multiple high-risk investments on behalf of his clients, including a highly speculative investment in a small start-up company.

Question(s) For Expert Witness

  • 1. Do you have experience working on fraud and unsuitability claims? Please explain.
  • 2. Do you have extensive knowledge of FINRA rules and regulations?
  • 3. Do know the proper steps and protocols when making recommendations based on clients current/future needs? Please explain.
  • 4. Please explain your qualifications to review this case.

Expert Witness Response E-000635

I have extensive experience working on fraud and unsuitability claims. I have worked on approximately 250 such matters. Likewise, I have extensive knowledge of FINRA rules and regulations, having over 40 years of experience in the industry. In addition, I currently serve and have served as a FINRA arbitrator (Chairman-qualified). I know the proper steps and protocols when making recommendations based on client’s needs, including important NASD and FINRA Rules and Notices-to-Members. I am highly qualified to review this case and glad to assist. I have set standards for suitable investments, having served as a Member of the Financial Products Standards Board of the Institute of Certified Financial Planners. I am an accredited Certified Fraud Examiner (CFE) and am an Accredited Investment Fiduciary Analyst.

Expert Witness Response E-007912

Expert-ID: E-007912

I have worked on unsuitability claims in the hedge fund sector. I have worked on a number of cases where investors with low risk profiles were allowed/encouraged to invest in improperly risky investments. I have extensive knowledge of FINRA rules and regulations and related ethical standards. My Chartered Financial Analyst designation revolves around portfolio management, suitability and proper assessment of risk. I have extensive knowledge of differing investments and have made recommendations to investors regarding proper investments and risk management for over 30 years. I am happy to help with this case review and discuss further.

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