FINRA Reportedly Bars Adam K. Veron for Private Securities Transactions
According to the Financial Industry Regulatory Authority, Adam K. Veron (CRD #4508315, Lake Charles, Louisiana) was issued an AWC on August 22, 2017 in which Veron was barred from association with any FINRA member in all capacities.
Veron reportedly consented to the sanction and to the entry of findings that he participated in private securities transactions totaling nearly $1.8 million, without first providing notice to his member firm or obtaining its approval, and in violation of the firm’s WSPs.
FINRA stated that In July 2015, Veron formed Contract Funding and Corporate Management, LLC (“CFCM”) and served as its President. Shortly after forming the company, Veron began selling shares in the company, including approximately $1.74 million worth of shares to firm customers and another $50,000 worth of shares to a non-customer.
The findings state that Veron has since repaid two investors the amount of their investment plus interest. In response to the firm’s annual compliance attestations, Veron allegedly provided false answers regarding his participation in private securities transactions and outside business activities.
According to his FINRA BrokerCheck report, Veron was registered with Questar Capital Corp. in Lake Charles, LA from September 2013 until February 2017 when he was discharged for failing to “report an outside business activity on a timely basis in violation of firm policies and procedures for an affiliated firm of the RIA.” Prior to that, he was associated with LPL Financial in Lake Charles, LA from September 2009 until October 2013.
For FINRA’s full findings see FINRA Case #2017053237601.
Recover your investment losses
The White Law Group is investigating the liability that Adam K. Veron’s employers may have for losses sustained by his clients. Brokerage firms are required to adequately supervise their agents to ensure they are complying with FINRA rules. If it is determined that the broker dealer failed to supervise their agent, they can be held responsible for losses in a FINRA arbitration claim.
Are you concerned about investment losses with Adam K. Veron? The attorneys at The White Law Group may be able to help you. For a free consultation with a securities attorney, please call (888) 637-5510.
The foregoing information, which is all publicly available on FINRA’s website, is being provided by The White Law Group. The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.
For more information on The White Law Group, please visit www.whitesecuritieslaw.com.