Investor Alert: Robert Charles McNamara was fined $10,000, suspended for failing to disclose brokerage accounts
/FINRA Sanctions & Allegations of Misconduct
FINRA fined $10,000, suspended Robert Charles McNamara (CRD #2265046) located in Rye, New York for failing to disclose to his member firm brokerage accounts held at another FINRA member firm. He also improperly purchased equity initial public offering (IPO) shares in an account held at the other firm and provided inaccurate information to that firm in order to purchase those shares. The suspension was in effect from September 16, 2019, through October 25, 2019.
firm brokerage accounts held at another FINRA member firmInvestors Have the Right to Recover Their Losses
When investments are sold by brokerage firms licensed by FINRA, they are subject to the laws that FINRA enforces. The brokerage firms are responsible for ensuring that their brokers are trading fairly, ethically and in the best interest of their clients. Ideally, they would accomplish this through careful supervision. Unfortunately, too often this supervision has been inadequate to fully protect investors. If you purchased any investments through a representative of a registered brokerage firm and suffered losses through negligence or fraud, it immediately puts the brokerage firm at fault for failing to supervise their broker. FINRA law then dictates that you can hold the firm legally liable to recover your damages.
Can I recover my investment losses?
If you lost a substantial portion of your retirement savings or other assets as a result of investments purchased through Advisors Asset Management or Robert Charles McNamara, please contact us immediately. Our investment fraud lawyers have recovered millions of dollars from the largest banks, insurance companies, and brokerage firms in the world on behalf of investment fraud victims. You may have certain legal rights that require your immediate attention. Time is of the essence in these claims. The sooner you act, the greater your chances of recovering your investment losses. Don't wait. Contact us TODAY for a FREE Consultation and case evaluation. We will tell you if you have a viable claim worth pursuing.