FINRA Bars Royal Alliance Broker John Swon IV after allegations of Misappropriated Funds

According to public records on FINRA’s website, the regulator reportedly barred financial advisor John Swon IV from the securities industry after he purportedly failed to provide information and documents requested by FINRA in connection with its investigation concerning allegations in a customer complaint that he misappropriated funds. 

According to the complaint that prompted the investigation, the client alleges that Swon “misappropriated or otherwise mismanaged funds entrusted to him” as an investment advisory representative of Focus Financial Network, Inc. 

According to Swon’s FINRA broker report, he was registered with Royal Alliance in Bloomington, MN from October 2012 until April 2021 when he was reportedly discharged for allegations that he “violated the firm’s policies regarding disclosure and approval of outside business activities.”

Filing a Complaint against your Brokerage Firm

The White Law Group is investigating FINRA arbitration cases involving financial advisor John Swon IV and the liability Royal Alliance may have for failure to properly supervise him.

When brokers abuse client accounts and conduct transactions that violate securities laws, such as making unsuitable investment recommendations, 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.

For more information on the firm’s investigations, please see:

Royal Alliance Associates Fined $500,000 for Unsuitable Investments

Royal Alliance to pay $400,000 for Failure to Supervise

If you suffered losses investing with John Swon IV, the securities attorneys at The White Law Group may be able to help you. Please call 888-637-5510 for a free consultation, or visit us on the web at www.whitesecuritieslaw.com.

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.