South Florida Arbitration & Litigation Lawyer Blog
Broker/Dealer and Registered Representative Fraud, Mismanagement and Misrepresentation Lawyer, Russell L. Forkey, Esq.
January, 2012:
Robert Allen Pierce (CRD #363323, Registered Principal, Battle Ground, Washington) submitted a Letter of Acceptance, Waiver and Consent in which he was suspended from association with any FINRA member in any capacity for four months. In light of Pierce’s financial status, no monetary sanctions have been imposed. Without admitting or denying the findings, Pierce consented to the described sanction and to the entry of findings that he effected, or caused to be effected, securities transactions in customers’ accounts without their knowledge or consent, and in the absence of written or oral authorization to exercise discretion in those accounts. The transactions included purchases totaling approximately $10,328.37 and sales totaling approximately $54,733.15. The findings stated that Pierce failed to timely amend his Form U4 to disclose that he had received written complaints from a customer. The suspension is in effect from December 19, 2011, through April 18, 2012. (FINRA Case #2009020245901).