Did you lose money investing with Robert Forsyth (a/k/a Bob Forsyth) (CRD# 1425529)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Robert Forsyth (a/k/a Bob Forsyth). If you suffered losses investing with Robert Forsyth (a/k/a Bob Forsyth), 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 22, 2020, Robert Forsyth (a/k/a Bob Forsyth)’s FINRA BrokerCheck Report contains the following:
Disclosure Events
1 Regulatory Event(s)
See FINRA Letter of Acceptance, Waiver and Consent No. 2018059155701
UPDATE 9/22/2020: According to FINRA’s September 2019 Disciplinary Actions: “Robert Henry Forsyth (CRD #1425529, Charlottesville, Virginia) July 30, 2019 – An AWC was issued in which Forsyth was fined $2,500 and suspended from association with any FINRA member in all capacities for 15 business days. Without admitting or denying the findings, Forsyth consented to the sanctions and to the entry of findings that he executed discretionary transactions in customer accounts without prior written authorization from the customers and without his member firm having approved any of the accounts for discretionary trading. The findings stated that some of the customers gave Forsyth express or implied authority to exercise discretion in their accounts. The suspension was in effect from August 19, 2019, through September 9, 2019. (FINRA Case #2018059155701)
Current and Previous Registrations
02/02/1990 – PRESENT DAVENPORT & COMPANY LLC (CRD#:1588) CHARLOTTESVILLE, VA
11/08/1985 – 02/09/1990 ANDERSON & STRUDWICK, INCORPORATED (CRD#:48) RICHMOND, VA
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 Robert Forsyth (a/k/a Bob Forsyth) 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.
