Did you lose money investing with Patrick Sutherland (CRD# 3042322)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Patrick Sutherland. If you suffered losses investing with Patrick Sutherland, 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 September 15, 2020, Patrick Sutherland’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 Regulatory Event(s)
See FINRA Letter of Acceptance, Waiver and Consent No. 2016050957901
1 Criminal Disclosure(s)
UPDATE 9/15/2020: According to FINRA’s October 2019 Disciplinary Actions: “Patrick Emanuel Sutherland (CRD #3042322, Charlotte, North Carolina) August 26, 2019 – An Offer of Settlement was issued in which Sutherland was barred from association with any FINRA member in all capacities. Without admitting or denying the allegations, Sutherland consented to the sanction and to the entry of findings that while he was statutorily disqualified as a result of felony convictions, and while his FINRA registrations were terminated, he actively engaged in the management of his FINRA member firm, and engaged in activities on behalf of it which required securities registration. The findings stated that, among other things, Sutherland communicated with firm associated persons regarding securities-related matters, including sending and receiving email from his firm email address, as well as another email address, and supervised and directed firm associated persons regarding its securities business, including commissions, outside business activities and advertising. In addition, Sutherland participated in the firm’s financial reporting, including the preparation of Financial and Operational Combined Uniform Single (FOCUS) reports, responding to firm auditors and directing the financial and operations principal (FINOP). Sutherland engaged in clerical and managerial functions on behalf of the firm, including arranging for branch office examinations, communicating with firm vendors and recruiting registered representatives and participated in personnel decisions on behalf of the firm, including negotiating terms of employment with the firm’s co-chief compliance officer (CCO) and directing its chief executive officer (CEO) regarding compensation of the firm’s staff. (FINRA Case #2016050957901)
Current and Previous Registrations
06/24/2008 – 10/28/2016 INNOVATION PARTNERS LLC (CRD#:146344) Charlotte, NC
04/13/2000 – 12/21/2007 UNITED SECURITIES ALLIANCE, INC. (CRD#:36487) GREENWOOD VILLAGE, CO
06/08/1998 – 08/23/1999 AMERICAN GENERAL SECURITIES INCORPORATED (CRD#:13626) PHOENIX, AZ
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 Patrick Sutherland 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.
