Did you lose money investing with Blair Olsen (CRD# 1545765)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Blair Olsen. If you suffered losses investing with Blair Olsen, then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
As of January 24, 2023, Blair Olsen’s FINRA BrokerCheck Report contains the following:
BARRED: FINRA has barred this individual from acting as a broker or otherwise associating with a broker-dealer firm.
Disclosure Events
2 Regulatory Events
1 Employment Separation After Allegations
1 Criminal Disclosure
1 Judgment(s)/Lien
November 26, 2021 – An OHO decision became final in which Olsen was barred from association with any FINRA member in all capacities. In light of the bar, no additional sanctions are imposed. The sanction was based on findings that Olsen willfully failed to make timely disclosures of criminal charges by amending his Uniform Application for Securities Industry Registration or Transfer (Form U4). The findings stated that Olsen was indicted on seven charges of felony aggravated assault but did not amend his Form U4 to disclose that he had been charged with a felony. Subsequently, Olsen’s member firm learned of the arrest and filed an amended Form U4 on his behalf to disclose that he had been charged with a felony. However, Olsen represented falsely on the form that the indictment consisted of only a single count. Later, the firm again amended Olsen’s Form U4 to reflect accurately that the indictment contained seven counts. In the meantime, Olsen was indicted a second time. This indictment charged him with a single count of felony aggravated harassment. Olsen appeared in court in connection with this indictment on multiple occasions but did not amend his Form U4 to disclose it. The findings also stated that Olsen failed to provide information and documents or provide on-the-record testimony requested by FINRA in connection with these indictments. In response to FINRA, Olsen initially provided a late partial response to its requested information about the indictments but failed to fully respond or provide requested testimony. (FINRA Case #2018058798802)
Current and Previous Registrations
01/03/2017 – 07/18/2019 LINCOLN INVESTMENT (CRD#:519) CAREFREE, AZ
04/22/2004 – 01/03/2017 LEGEND EQUITIES CORPORATION (CRD#:30999) CAREFREE, AZ
01/01/1994 – 03/29/2004 LEGEND EQUITIES CORPORATION (CRD#:30999) PALM BEACH GARDENS, FL
04/16/1990 – 01/01/1994 LEGEND CAPITAL CORPORATION (CRD#:4149) PALM BEACH GARDENS, FL
11/13/1986 – 05/04/1990 THE VARIABLE ANNUITY MARKETING COMPANY (CRD#:5081) HOUSTON, TX
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Due Diligence Requirement
FINRA requires broker’s to conduct due diligence on investments and to conduct a suitability analysis when recommending securities to a customer that takes into account the customer’s knowledge and experience. FINRA Rule 2111(a) states that “a member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile. A customer’s investment profile includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance, and any other information the customer may disclose to the member or associated person in connection with such recommendation.”
Rule 2111 is composed of three main obligations: reasonable-basis suitability, customer-specific suitability, and quantitative suitability. Brokers and the brokerage firms they work for that fail to conduct adequate due diligence on investments they recommend or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Request a Free Consultation with a Securities Attorney
If you suffered losses investing with Blair Olsen and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
This information is all publicly available and is being provided to you by Galvin Legal, PLLC.
Galvin Legal, PLLC is a national securities arbitration, securities mediation, securities litigation, securities fraud, securities regulation and compliance, and investor protection law practice. For more information on Galvin Legal, PLLC and its representation of investors, please visit www.galvinlegal.com or call 1-800-405-5117.
