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November 6, 2018 Comments (0) Blog, Current Investigations, Securities Fraud

Ronald Klebba – LPL Financial – Investigation

Ronald Klebba

Ronald Klebba – Cease & Desist Order

Have you suffered losses investing with Ronald Klebba? If so, the securities attorneys at The White Law Group may be able to help you recover your losses through FINRA Arbitration.

According to the Florida Department of Financial Services on October 17, 2017, a cease & desist order was filed against former financial advisor Ronald Klebba for acting as a variable annuity agent while unlicensed.

According to the Financial Industry Regulatory Authority (FINRA), Klebba was barred from the securities industry in 2010.

FINRA further alleged that Klebba financially exploited elderly women by convincing them to grant him general power of- attorney and to sign a document waiving any conflict of interest that Klebba might have, name him as beneficiary on assets, name him as a joint owner on bank accounts, name him as joint tenant on a warranty deed for real estate and to give him a $50,000 gift from the proceeds of the sale of a condominium.

For FINRA’s full findings see FINRA Case #2008014974201.

Failure to Supervise

Brokerage firms are required to adequately supervise their advisors. They must ensure they are complying with FINRA rules.

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. 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.

The brokerage firms can be held responsible for any losses in a FINRA arbitration claim if it is determined that they failed to properly supervise their agent.

If you have questions about investments you made with Ronald Klebba, the securities attorneys of The White Law Group may be able to help you.  To speak 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 Vero Beach, Florida.

For more information on The White Law Group, and its representation of investors, please visit our website at https://www.whitesecuritieslaw.com.