FINRA reportedly bars Herbert Voss Jr. for failure to provide testimony.
According to the Financial Industry Regulatory Authority (FINRA), the regulator has barred financial advisor Herbert Voss, Jr. from the securities industry.
According to the Letter of Acceptance, Waiver and Consent posted on FINRA’s site today, on April 25, 2018, FINRA staff sent a letter to Voss requesting that he appear for on-the-record testimony on May 9, concerning a customer complaint alleging that Voss had engaged in unauthorized trading in the customer’s account.
On April 25, 2018, Voss’ counsel reportedly acknowledged receipt of FINRA’s request and indicated via e-mail that Voss will not appear to provide testimony on May 9, 2018 or at any other time in the future.
By refusing to cooperate with FINRA’s request for on-the-record testimony, the regulator has barred Voss from association with any FINRA member in all capacities.
According to his FINRA BrokerCheck report, Voss has been registered with StockCross Financial Services in Beverly Hills, California since 2009. He has 8 customer disputes listed on his broker report. Allegations include failure to supervise, suitability, breach of fiduciary duty, and misrepresentation, among others.
For FINRA’s full findings see FINRA case # No. 2017053435501.
Failure to Supervise
The White Law Group is investigating potential claims regarding the liability that his employers may have for failure to properly supervise Herbert Voss Jr.
Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.
Brokers have a fiduciary duty to make investment recommendations that are consistent with the clients net worth, investment experience and objectives. Risk tolerance, age, and liquidity needs also need to be considered.
When brokers abuse client accounts and conduct transactions that violate securities laws, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration.
Are you concerned about your investments with Herbert Voss Jr.? If so, the securities attorneys of The White Law Group may be able to help. For a free consultation with a securities attorney, please call 888-637-5510.
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, visit www.WhiteSecurtiesLaw.com.