Financial Advisor Perry De Leeuw, of Duluth, GA, Barred for Selling Away
Have you suffered losses investing with former financial advisor Perry De Leeuw? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim.
According to the Financial Industry Regulatory Authority (FINRA), the regulator reportedly barred De Leeuw from association with any FINRA member in any capacity after he purportedly failed to request termination of his suspension within three months of the date of the Notice of Suspension; He is automatically barred from association with any FINRA member in any capacity.
FINRA was investigating De Leeuw after he was reportedly discharged from his member firm, PFS Investments, because he allegedly “engaged in an unapproved outside business activity” and he reportedly “failed to adequately cooperate during a review of a related complaint.”
According to his FINRA BrokerCheck report, De Leeuw was registered with PFS Investments in Duluth, GA from September 2004 through May 2016. He has 8 disclosure events listed on his record.
De Leeuw has 5 customer complaints filed against him since 2016, according to his broker profile. Allegations include misrepresentation and investing in outside businesses that were not related to his member firm, including an investment in a company called Waterbos.
The White Law Group is investigating the liability that De Leeuw’s former employer, PFS Investments, may have for his actions in regards to his alleged outside business activities.
When a FINRA registered representative conducts business outside the scope of the brokerage firm where they are registered, the act can be considered “selling away.”
Some brokers, looking to supplement their income, will go outside the traditional market, trying to find other products to push.
If a registered broker “sells away” from their firm, the brokerage firm may still be liable for negligent supervision of their broker representative and may be responsible for investment losses in a FINRA dispute resolution claim.
If you have invested with Perry De Leeuw and are concerned about your investments, the securities attorneys at The White Law Group may be able to help you. For a free consultation with a securities attorney, please call our offices at 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, please visit our website at https://www.whitesecuritieslaw.com.