Did you lose money investing with Megan Weakland (a/k/a Megan Arnold) (CRD# 4678321)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Megan Weakland (a/k/a Megan Arnold). If you suffered losses investing with Megan Weakland (a/k/a Megan Arnold), 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 9, 2020, Megan Weakland (a/k/a Megan Arnold)’s FINRA BrokerCheck Report contains the following:
Disclosure Events
2 Regulatory Event(s)
See FINRA Letter of Acceptance, Waiver and Consent No. 2016051302001
1 Employment Separation After Allegations
UPDATE 10/08/2020: According to FINRA’s March 2019 Disciplinary Actions: “Megan Nina Weakland (CRD #4678321, Tigard, Oregon) January 2, 2019 – An AWC was issued in which Weakland was fined $3,500 and suspended from association with any FINRA member in all capacities for two months. Without admitting or denying the findings, Weakland consented to the sanctions and to the entry of findings that she falsified her member firm’s documents when she shared a common password with a registered financial advisor for whom she worked. The findings stated that Weakland, with the advisor’s authorization, used the common password to log into his system worklist to evidence his approval of new accounts by affixing his electronic signature when, in fact, he had neither seen nor reviewed the account documents for those accounts. The findings also stated that Weakland caused the firm to create and maintain inaccurate books and records. The new account approvals that Weakland made were books and records of the firm, and these books and records were inaccurate because the signatures evidencing the advisor’s review and approval were not genuine and because the documents falsely represented that he had reviewed and approved them. The suspension is in effect from February 4, 2019, through April 3, 2019. (FINRA Case #2016051302001)
Current and Previous Registrations
08/12/2016 – PRESENT RAYMOND JAMES & ASSOCIATES, INC. (CRD#:705) LAKE OSWEGO, OR
07/21/2006 – 09/09/2016 WELLS FARGO ADVISORS, LLC (CRD#:19616) LAKE OSWEGO, OR
11/09/2004 – 07/25/2006 PIPER JAFFRAY & CO. (CRD#:665) LAKE OSWEGO, OR
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 Megan Weakland (a/k/a Megan Arnold) 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.