Robert Halldin Reportedly Barred after Allegations of Selling Securities away from Member Firm
The Financial Industry Regulatory Authority has reportedly barred broker Robert Halldin from the securities industry.
According to a Letter of Acceptance, Waiver and Consent (AWC) on December 3, Halldin reportedly refused to appear for on-the-record testimony requested by FINRA as a part of an investigation in connection with a series of Form U5 amendments filed by his former member firm. FINRA stated that the Form U5s disclosed complaints and arbitrations filed against Halldin alleging that he traded securities in individuals’ brokerage accounts held away from the firm.
According to his FINRA BrokerCheck report, Halldin was most recently registered with American Portfolios Financial Services Advisors in Newington, CT from 2012 until 2017. His broker report indicates that he has 3 customer complaints for allegations of unsuitable investments, overconcentration and unauthorized trading, among others. He also reportedly has 2 judgment/liens and 6 financial disclosures including a bankruptcy from August 2020, according to FINRA. .
Filing a Complaint against your Brokerage Firm
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 are concerned about investments with Robert Halldin, the securities attorneys at The White Law Group may be able to help you. For a free consultation with an attorney, please call (888) 637-5510.
The foregoing information, which is all publicly available, 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. For more information, please visit our website, www.whitesecuritieslaw.com.