South Florida Arbitration & Litigation Lawyer Blog
Account Executive and Broker/Dealer Fraud and Misrepresentation FINRA Arbitration and Litigation Lawyer, Russell L. Forkey, Esq.
December, 2010:
Tracy Marie Lamoreaux (CRD #4578811, Registered Rep., Phoenix, Arizona) submitted a Letter of Acceptance, Waiver and Consent in which she was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Lamoreaux consented to the described sanction and to the entry of findings that she borrowed money from her member firm’s customer without seeking the firm’s permission to borrow the funds and against the firm’s borrowing procedures, which required its registered representatives to request and obtain the firm’s approval before borrowing money from or lending money to a customer. The findings stated that the firm repaid the customer the loan amount plus interest. The findings also stated that Lamoreaux failed to respond to FINRA requests for documents and information, and to provide testimony. (FINRA Case #2009019285301).