Did you lose money investing with Thomas Barton (CRD# 6908590)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Thomas Barton. If you suffered losses investing with Thomas Barton, 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 18, 2023, Thomas Barton’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
1 Employment Separation After Allegations
December 10, 2021 – An AWC was issued in which Barton was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Barton consented to the sanction and to the entry of findings that he electronically signed the names of individuals on five fictitious insurance policy applications without their prior permission and submitted the forged applications to an insurance company. The findings stated that on each application, Barton designated his own bank account for the automatic premium payments. None of the individuals authorized Barton to sign their names on the applications, and none of them had discussed purchasing insurance through him. After one of the individuals contacted the insurance company and inquired about why she and her spouse had been issued policies, Barton claimed that the policies had been issued by mistake. He did not disclose a third unauthorized application. Several weeks later, Barton created two additional fictious policy applications. (FINRA Case #2021071289801)
Current and Previous Registrations
08/13/2020 – 04/28/2021 MUTUAL OF OMAHA INVESTOR SERVICES, INC. (CRD#:611) PITTSBURGH, PA
11/15/2019 – 08/05/2020 CAMBRIDGE INVESTMENT RESEARCH, INC. (CRD#:39543) VALENCIA, PA
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 Thomas Barton 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.
