Did you lose money investing with John Nicholson (CRD# 2661099)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with John Nicholson. If you suffered losses investing with John Nicholson, 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 October 17, 2020, John Nicholson’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
1 Customer Dispute(s)
1 Regulatory Event(s)
See FINRA Letter of Acceptance, Waiver and Consent No. 2016052411501
1 Employment Separation After Allegations
2 Financial Disclosure(s)
1 Judgment(s)/Lien(s)
UPDATE 10/17/2020: According to FINRA’s January 2019 Disciplinary Actions: “John Robert Nicholson (CRD #2661099, Alpharetta, Georgia) November 19, 2018 – An AWC was issued in which Nicholson was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Nicholson consented to the sanction and to the entry of findings that he converted $1,959.80 from his member firm by submitting false expense reports. The findings stated that while Nicholson was a complex manager at the firm, he was permitted to request and obtain reimbursement for car mileage expenses that he incurred. Nicholson intentionally submitted false expense reports to the firm overstating the miles he actually traveled and claiming that he incurred fictitious mileage expenses in order to obtain funds from the firm that he was not entitled to receive. (FINRA Case #2016052411501)”
Current and Previous Registrations
01/06/2017 – 08/18/2017 SUNTRUST INVESTMENT SERVICES, INC. (CRD#:17499) FORT LAUDERDALE, FL
11/08/1995 – 12/09/2016 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED (CRD#:7691) CINCINNATI, OH
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 John Nicholson 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.
