FINRA Bars Cetera Advisor Donna Hines after Allegations of “Selling Away”
According to the Financial Industry Authority (FINRA) on November 9, the regulator has barred Donna Jean Hines (CRD #4275524) from the securities industry after she allegedly refused to appear for on-the-record testimony in connection with FINRA’s investigation into whether she facilitated a customer’s bitcoin investment for compensation. The investigation reportedly stems from a customer complaint alleging that Hines “engaged in constructive fraud/common law fraud, made misrepresentations, committed negligence and breached fiduciary duties related to his purported investment in Bitcoin.”
According to her FINRA broker report, Hines was affiliated with the following firms during her career in the securities industry:
10/18/2013 – 05/04/2021, CETERA ADVISORS LLC (CRD#:10299), CLARKSBURG, WV
3/24/2005 – 10/23/2013, INVESTMENT PLANNERS, INC. (CRD#:18557), WESTON, WV
11/05/2003 – 03/24/2005, SAMMONS SECURITIES COMPANY, LLC (CRD#:115368), ANN ARBOR, MI
11/21/2000 – 11/03/2003, EDWARD JONES (CRD#:250), ST. LOUIS, MO
Since 2015, Hines has had five customer complaints filed against her, according to FINRA. She reportedly filed bankruptcy in 2019.
Recovery of Investment Losses
The White Law Group is investigating the liability that Hines’ former employer may have for failure to monitor her 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 suffered losses investing with Cetera advisor Donna Jean Hines, the securities attorneys at The White Law Group may be able to help you. For a free consultation with a securities 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 and Seattle, Washington. For more information, please visit our website, www.whitesecuritieslaw.com.