The Financial Industry Regulatory Authority (FINRA) licenses and regulates the stock brokerage industry. It requires stock brokerage firms and their stock brokers to be qualified, registered, and approved by the agency before they may offer and sell securities to the public. FINRA also requires its registrants to immediately report regulatory events, such as suspensions, fines, and customer complaints, against the firm and broker. FINRA maintains a database of investor complaints and disciplinary and employment history for registered representatives and publishes some of this information on its BrokerCheck website, www.brokercheck.finra.org. The FINRA BrokerCheck is purportedly useful for predicting future broker misconduct. Unfortunately, not all customer complaints are accurately or completely reported on the website. We are seeking investors with information about Westpark Capital Inc. broker Lawrence J. Fawcett Jr. to determine whether the reported information on the FINRA BrokerCheck website is accurate and complete.
FINRA reports that Mr. Fawcett has only been registered in the securities industry since 2012. Yet in that short time, he has been registered with 6 brokerage firms: EKN Financial Services Inc., Rockwell Global Capital LLC, John Thomas Financial, Salomon Whitney Financial and most recently Westpark Capital Inc. During that period, the FINRA BrokerCheck Report indicates that Mr. Fawcett has been the subject of 3 Customer Disputes, one of which was pending as of August 18, 2016.
There was one customer dispute with allegations of unauthorized trading in violation of FINRA rules, and failure to supervise that supposedly settled for $75,000. One customer dispute was rejected by the brokerage firm and supposedly no further action was taken by the customer. There was one pending arbitration reportedly filed involving Mr. Fawcett for alleged unauthorized trading while he was employed at Salomon Whitney. We believe that Mr. Fawcett's employers may have not accurately or completely reported all of the Customer Disputes involving him and request that all investors with complaints against Mr. Fawcett contact our office immediately.
The most important of investors' rights is the right to be informed! We intend to notify FINRA of any and all unreported or inaccurate customer complaints against this firm and/or broker. This blog post is by the Law Offices of Robert Wayne Pearce, P.A., located in Boca Raton, Florida. For over 35 years, Attorney Pearce has tried, arbitrated, and mediated hundreds of disputes involving complex securities, commodities and investment law issues. The lawyers at our law firm are devoted to protecting investors' rights throughout the United States and internationally! Please visit our website, www.secatty.com, post a comment, call (800) 732-2889, or email Mr. Pearce at email@example.com for answers to any of your questions about this blog post and/or any related matter.